From time to time, we here at the Traders Blog will feature a person or product that stands out in the trading world. Today that trader is Alan Knuckman of the Wizard.com. Alan will be sharing part of his Trend Trade and break out trading strategy. Be sure to comment below with your thoughts and questions.
Hello traders I’m Alan Knuckman, Senior Market Strategist. I can be seen every week on financial television networks such as CNBC, Bloomberg, FOX Business and Reuters. I’m blogging today about my favorite trading strategy and my weekly trend breakouts for the week of November 7th.
With over 20 years plus experience in the markets, it has been proven to me that the real money is made on established trends. Chasing turns and trying to pick tops or bottoms is extremely dangerous and only a gamble at best. Financial success on the other hand is about repeatedly identifying high probability candidates and taking a chunk out of the proven market momentum. Continue reading "The Trend Trade & Breakout Strategy - Two Parts of the Trading Plan"→
Time and again on this blog, Adam has emphasized the need for a game plan (a.k.a.trading plan), but how many traders actually have a written trading plan?
Price Headley of Big Trends would like to share his list of trading plan essentials which lead to profitable trading in general. Comment and let us know what you think goes into a successful trading plan and be sure to visit Price at BigTrends.com
What's nice about the internet is that even buried under 3+ feet of snow we're able to communicate and educate! That's exactly what Todd Brown, from Triple Threat FX, is here to do today. The title says it all, so I'll leave you to enjoy the article, comment below, and invite you to watch a video from Todd here (just click play).
Of course we aren't psychos! Nonetheless, I want to direct your attention to the most powerful technology for producing positive changes in your trading. What’s that? No, this is not a" whiz bang" indicator or new method. Each of us has this, but few invest the time or manage this properly. What is it?
It is our minds!
That 6 inch space that rests between our 2 ears that leads and directs our every action. Everything you do in your trading every day starts as a thought! And I’m here to tell you after working with traders for over 14 years, it is simply a game changer when managed properly. Let’s look first at how we can optimize our minds through Trading State Management.
The response from Bill's blog post from yesterday was so positive, I asked if he would be so kind as to delve deeper into the topics of escaping dependency and dealing with information overload. Please enjoy the article and comment below and feel free to check out Bill's site here.
I want to thank everyone who commented on the previous discussion about the challenges facing traders today, especially forex traders.
In that recent posting I was talking about the Black Hole of dependency that has a strong hold on forex traders right now – but I didn’t really take enough time to delve deeper into that subject and broaden it enough to help struggling traders.
Today I've asked an old friend of Adam and mine, Jim Robinson who writes a fantastic Commodity Newsletter, to give us his breakdown of what it takes to be a successful trader. Please take time to enjoy the article, visit Jim's Commodity Newsletter, and please comment on what YOU think we need to know to be a successful trader.