As a professional stock trader it is important to learn when the conditions suit trading aggressively. To profit consistently at day trading or even swing trading, you need to “wait for money to be lying in the corner” as Jim Rogers said in Market Wizards. This roughly translates into being patient for your set ups [...]
Archive for June, 2007
22 Jun
Day Trading and tape reading
Day trading or full time online stock trading is a business of waiting for the probabilities to be in sync. Today so far is a day to be sitting on your hands. New stock traders have a hard time grasping the fact that some days there is very little to do. They are in the [...]
15 Jun
Day Trading lesson: perspective on price action
Stock trading to many new traders can seem like there is no rhyme or reason to price fluctuations during the day. Online stock traders do not have the same information of order flow that a NYSE specialist or a NASDAQ market maker has. “Screen” traders need to interpret action in a different way.
To do this [...]
13 Jun
Swing trade of the week
A part of successful stock trading is being disciplined. It is much easier to be consistent when you have structure to what you are trying to do. Having the discipline to do your homework every day at the same time without fail is a must for any aspiring trader.
Every night I scan roughly 400-500 stocks [...]
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