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Today we are going to talk about the proper use of safety stops. One of my biggest obstacles to successful trading was, and still is, not using my safety stops in a proper manner. Most importantly, this means I would break my rule of placing my safety stop one or two ticks below the signal…...
This day trading lesson comes after many multiple requests. I have had this lesson on the “to do” list for a while, but after continued requests for a lesson on short term trend lines, I am finally getting a chance to make it a reality. Short term trend lines really can help to keep you…...
As I discussed in a recent YouTube video, the long road to day trading success is very real. Another trader sent me these 38 steps to becoming a successful commodity trader, and as I promised, I am posting them for your perusal. I had personally never seen this before, but after reading it, I know…...
This lesson is going to talk about breakouts and why most breakouts fail. Occasionally you will indeed see a breakout take off and look like a great missed opportunity, but the majority of the time, prices will break out of strong support or resistance and immediately reverse, trapping everyone that entered on the wrong side…...
Often, I am asked about first entries or when is it OK to take one-legged pull backs to the EMA or trend line. The answer to this is rather simple, although it is a complex decision all the same. What I mean by that statement is that in most cases, we are looking for second entry…...
I get a lot of questions about this type of trap, and rightfully so, as it is a very powerful pattern. So powerful in fact that it alone could allow you to make a great living as a day trader. The problem with failed second entries is that many traders start trying to concentrate on the…...
I have received many requests to do another chart lesson on how I start my trading day in the ES, and to spend some additional time on the bar-by-bar analysis that I did in that previous lesson. So, today’s chart lesson will cover just that; How I start my trading day, and some bar by…...
Today’s lesson is going to discuss resting orders and how they affect the price action. One of the best things about learning price action is the ability to truly understand why things happen in the market. Have you ever watched prices trend down strongly only to suddenly reverse on a dime and then trend straight…...
I am a bit of a fitness buff, as well as, a trading buff, and recently I was watching a motivational workout video that was discussing skill versus talent. While the video is mostly about fitness or physical skills, the message relates very well to day trading and what we do as traders learning to…...
One of the biggest mistakes traders make is not entering at the proper time during pullbacks. Our goal is to always enter on corrections during pullbacks, and while many of our students understand this, they do not understand the importance of “entering at the lows” of the swing in up trends, or the “highs of…...