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8 Steps for a Perfect Trading Plan

8 Steps for a Perfect Trading Plan

Everyone talks about having a trading plan, but what should be in it? In the first of two part series, we will be looking into the foundational ingredients of all trading plans. I had to think about this for a long time myself, when I first started out.  I attended all the seminars, and I read all the books, and I was constantly hearing that I needed a trading plan, but no one explained what...

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Trading Psychology: Be a Healthy Trader

Trading Psychology: Be a Healthy Trader

Most people would agree that being healthy is one of the most important things in your life, whatever your profession.  As a trader, you may have already experienced the stress that goes with trading.  In fact, trading is fraught with stress, and stress—especially the kind of chronic stress many traders are familiar with—can be very damaging to one’s health.  Chronic stress has been linked...

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Trading Psychology: Waiting for an Ambush?

Trading Psychology: Waiting for an Ambush?

I have a question for you this week: When you are trading, do you feel like you are waiting to be ambushed? It wouldn’t surprise me if that’s the case because markets are highly random and difficult to predict, so active traders get ambushed all the time. An ‘ambush’ is when the market suddenly does something adverse and costly that you did not expect. It could be news driven or the result...

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Trading Lessons: The Mountain Top Is Lonely

Trading Lessons: The Mountain Top Is Lonely

I've been to the top of what is called 'trading nirvana', a place where I thought I would have plenty of company.  Back in my early trading days, I thought there was nothing bad that could touch me.  As you recall from a previous article where I turned a small sum of 7K into a nice amount over half a million in just a few years.  This was 'it' for me, and while it was far from a fortune I...

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Making Trend Trading Easy: A Dynamic Tactic

Making Trend Trading Easy: A Dynamic Tactic

Trends can be vexing for many traders.  Because trends happen less frequently than congestion, we can easily get lulled into buying and selling the extremes.  In a trend, this can be disastrous.  Many traders who make good money fading short-lived market moves give it all back when a trend gets going.  It can be hard to shift gears. Making Trends Easy: The Right Multiple Time Frame Combo...

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Negative Headlines: The Masses Are Gullible, Don't Get Sucked In

Negative Headlines: The Masses Are Gullible, Don't Get Sucked In

 Surge in negative Headlines usually very good Omen for the Markets Watch out for emergencies. They are your big chance. Fritz Reiner Over the past few weeks, the number of individuals in the neutral camp rose, as did the number of bulls, and only the number of bears experienced a drop.  When we combine the neutrals and the bears, the total is 72%, and that tells us that the sentiment is...

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Trading Psychology: Mindfulness In Trading

Trading Psychology: Mindfulness In Trading

Mindfulness is an ancient mental discipline that arose in the yogic traditions in India and China thousands of years ago. It is a simple presence of mind that can be a bit elusive to maintain because it is so exquisitely focused on the here and now. Interestingly, its benefits for stress reduction, concentration, self-awareness and productivity have been validated by modern research. No...

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The Awesome Power of Belief: 4 Steps to Bring Vital Belief into your Trading

The Awesome Power of Belief: 4 Steps to Bring Vital Belief into your Trading

Everyone knows that belief in oneself contributes immensely to success.   This is true for any endeavor—whether it be in trading, sport, entrepreneurship, the professions, or the arts—and at any level, from novice to expert.  In trading, the best traders have a positive self-belief most of the time.  They weren't born with it; most learned to develop it.  But even the most successful traders...

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Trading Psychology: Moving Beyond Fear

Trading Psychology: Moving Beyond Fear

Fear is a powerful motivator and a 'healthy' emotion. One thing people often don't realize when thinking about fear, however, is that fear is triggered not only by danger, but also by opportunity… the flip side of danger. And in fact, in trading the two are inseparable.  As a result of this split, there are two types of traders, those who are mostly motivated by the fear of missing out… and...

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Should You Invest In The World You Live In Or In A World You Want?

Should You Invest In The World You Live In Or In A World You Want?

Investing has traditionally been seen as an easier way to participate in trends, alas, the question needs to be asked if this is still true in a world that is increasingly entering a state of chaos. This chaos is here to stay for the foreseeable future. I am talking of a time frame of 10 years or more. While we will be seeing tradable trends the environment for longer term investors is going...

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Surfing the Waves of Crude Oil for Swing Trades

Surfing the Waves of Crude Oil for Swing Trades

Recently, I introduced the idea of trading the intraday waves of the markets in a TraderPlanet article.  You can access that article by clicking this link:  Do You Surf the Market Waves?  Here is another article on wave trading, this time in Crude Oil and for swing trading the daily chart. Waves help the astute trader measure the supply and demand (i.e., the selling and the buying) in the...

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Day Trading Support System

Day Trading Support System

What can I say guys, we all need a little help, a little support.  Day trading is a challenging business to say the least and some days we need all the help we can get.  Those losing days can be tough and sometimes we need to seek council from someone we trust, but we need to be careful where we look for support because negative feedback can be devastating if we listen to the wrong people....

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Trading Tactics: How to Deal With a Slump

Trading Tactics: How to Deal With a Slump

Self-realization is a good place to start in breaking a trading slump.  I know it seems obvious that when you're in a slump and trading poorly your results and account balance will reflect it.  Streaks work both ways of course, and when we are winning it is just as notable as when we are losing.  Understanding what is happening to you is awareness that may help you change some habits, which...

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Stock Market Crash: Is The Dow Headed For A 2008 Repeat?

Stock Market Crash: Is The Dow Headed For A 2008 Repeat?

Do not wait for ideal circumstances nor for the best opportunities; they will never come. Anonymous   We could not help ourselves and put the word stock market crash in the title because every Tom, Dick and Harry is now chanting this tune.  Take a look at some of the recent headlines: Is the stock market headed for a repeat of 2008?, On marketwatch.com A stock-market crash of 50%+ would not...

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Do You Know When the News is Wrong And Can You Trade It?

Do You Know When the News is Wrong And Can You Trade It?

Do you trade the news?  Some technical traders ignore the news, but understanding when it gets one-sided can offer extraordinary trading, especially for those who know how to read the markets.  A One-Sided Market Early last Wednesday morning, January 20th, news outlets like CNN were talking gloom and doom before the US markets opened.  The European and Asian markets were selling down hard,...

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