Tips and trick from traders on how to become a better trader.
Dear Trader,
I believe that the more you know about the markets, the better off you are in the long run. With this in mind we are going to post on a regular basis, words and terms that will help you expand your own personal knowledge of the markets and the marketplace.
A better informed trader … is a smarter trader.
It's up to you.
Cheers,
On Friday I posted a seminar by Joe Ross on Stops. I am very curious about stops like so many other members of Marketclub and the guests that visit our blog. I was looking at the selection of trading books that we have at our office as well as searching the internet for more insights on stops and money management... here's what I found.
The Stock Bandit had a review on a book called "Pit Bull" by Marty
Schwartz. Jeff White, President of Stock Bandit, listed quotes from the book... particularly noted the portion of "Pit Bull" entitled "Honor Thy Stop."
I found this quote very powerful, "... a stop is an investment in self-preservation because if you're wrong, it saves you those extra dollars that you'd lose by hanging onto a losing position. It keeps you from digging the hole deeper and makes it easier for you to climb back out."
I also ran into another piece by Mr. Joe Ross. Trading Educators had this book reviewed as a "must see." They say that Ross "emphasizes the how, why, and when of stop loss and profit protecting stop placement." In the book he also explains hedging positions, identifies his methods for identifying trends and sites ways to breakout from congestion. See all of Trading Educators book reviews.
It is also a rare known fact that MarketClub (parent company INO.com) has a plethora of trading books by various gurus. We don't make a point of advertising our collection, however we do sometimes sell these books to make room for future inventory. These prices are the lowest price you are likely to find over the net... be please keep in mind we have a limited quantity.
Contact Melissa at 1-800-538-7424 or
me*****@in*.com
for purchase inquiries
"Starting Out In Futures Trading (5th Edition) " By - Mark J. Powers
"The Day Trader - From The Pit to The PC" By - Lewis J. Boresellino
"The New Market Wizards: Conversations with America's Top Traders" By- Jack D. Swchwager
"The New Options Secret: Volatility" By - David L. Caplan
"Trading 101 -
How To Trade Like A Pro" By- Sunny J. Harris
Hi Adam.
Congratulations on your fantastic new MarketClub applet which is a great improvement over the good one you already had. It contains a wealth of information, is simple to use and is much faster . As an active trader making 10 to 20 trades per day in stocks, futures and forex, MarketClub has become my Number One source for analysis and forecasting. Over the past year of using the MarketClub +100 Giant Footprints as the basis for my trading, my portfolio is up +100% with an over 80% win ratio. I am very pleased to be a subscriber.
The major difference is that I am staying in the trade much longer than before. I was always quick to take my profits in fear of losing them. Now I have verified the validity of your buy and sell signals and have the confidence to stay with the trend. By simple one button clicking between time frames on the MarketClub charts, I can quickly observe if the trend is still intact. What used to be a labor intensive, time consuming process now takes 30 seconds. Since you leave all buy/sell signals on the charts, I can analyse your past recommendations for the position to determine the likelihood of staying with the position. No more rummaging through past emails from newsletters, or scanning long lists to see what the recommendation was back when I put on the trade. And the Footprints give me a quick picture of why I am still in the trade, or when it is time to exit.
Another big difference is that I am no longer just guessing what positions to trade. By using the SmartScan feature for +100% Giant Footprints of stocks, I am only trading strong stocks in a strong uptrend with a high probability of continuing. My win ratio confirms this is a good strategy for me. I don't mind shorting futures or forex, but prefer to trade positively on stocks. Ok, I may miss some bottoms and tops, but staying in the trend is a much more productive trading technique. With 300 possibilities on each scan, there is always something good to trade.
Also I greatly appreciate your nightly email with the MarketClub Chart Analysis Report of my complete portfolio. In less than five minutes , I can quickly scan my positions to note any changes. Now I am spending my analysis time on what needs to be looked at rather than going over all the positions. This is a much more more productive use of my time, and leaves a great deal of time available for searching for new opportunites.
You may consider me a loyal and constant user of your MarketClub Program. I love it for the expanded capabilities I have as a trader, my Portfolio loves it for big boost it has received, my Wife loves it for the extra time I have available. Keep up the good work.
Sincerely,
Gene Simmons
Fla
Step 1: A move begins with the sponsors (smart traders) who have insider knowledge as it relates to a particular stock or market. This information will move a market up or down depending on the insiders' information. These buyers are smart, very smart, and recognize trading/investment opportunities very early in the markup cycle.
Step 2: Days, weeks, or sometimes months after a move has started, there is a brief mention in the electronic media (radio, cable, TV) or on one of the internet chat boards that a market has moved. The public hears for the first time and begins to get interested, but does not buy.
Step 3: A blurb of information appears in print media. The move also begins getting more exposure on blogs and internet message boards. The public starts paying a little more attention, and will buy a little bit.
Step 4: Wall Street and LaSalle Street brokers go into full hype mode and hawk the market to their customers. The public begins buying in greater volume.
Step 5: A full-blown front-page article appears about the particular stock or market in one of the major financial newspapers, magazines, or financial websites. This is often six months after the fact and after a market has shown its greatest appreciation. There is often heavy public buying, even a possible frenzy, as all media, brokers, and so-called "gurus" start to tout the market.
Step 6: As step 5 gets underway, the sponsors or smart traders begin to move out of the market and take their profits off the table.
The finale Step: The move ends, the market falls, and investors lose money.
Does any of this sound familiar to you? If it does then you know the key rules of engagement in the market. If none of this is familiar to you then learn to recognize these six step asap. Your financial life depends on it!!
The news is out and so is Terry Semel as CEO.
Jerry Yang, one of the original co-founders is taking over the leadership of this faded internet star.
Yesterdays almost 8% rise did not turn around any of our "Trade Triangles" into a positive mode.
Would we buy this stock?
NO .... not at the moment.
We would only buy Yahoo when all our "Trade Triangles" are green for go. We are happy to be on the sidelines watching this drama play out.
Watch the "Trade Triangles" for a buy point as they will tell you what the smart money is doing.
The MarketClub Team.
Yahoo is a registered trademark of Yahoo, Inc.
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