0Posted by Michael Glass on September 30, 2012 at 1:34 pm
#1 Mistake All Day Traders
Make in the Stock Market
Have you ever been in a trade and been stopped out just to have the market reverse and go back in the original direction you thought. Have you ever been in a position you thought would take 1 day and instead sat in a pullback for 3-5 days before making a profit. I bet it’s because you made the #1 mistake all day traders make in the stock market.
The oldest mantra in the stock market is The Trend is Your Friend. Even before all of these fancy dancy technical indicators were creators, investors used to chart and draw their own price levels of support and resistance. Watch the video to learn how these two key factors can help you avoid making the #1 mistake all day traders make in the stock market.
0Posted by Michael Glass on September 15, 2012 at 10:39 am
How to Trade the
Opening Range Breakout
The Opening Range Breakout Strategy is a very popular concept that was first introduced by Toby Crabel in his book “Day trading with short term price patterns and opening range breakout” (Crabel). Many view the opening range as the discovery period for traders. The opening range can be defined in two ways. The first way to look at the opening range is by time. We look at a specified period of time from market open. The second way to look at the opening range is by price. We want to denote the high and low price levels of the opening range.
If price action is above the opening range, we want to have a bullish bias for our trades. If price action is below the opening range, we want to have a bearish bias for our trade. In other words, we use the Opening Range as a filter for the sentiment of the market. We only look for trading setups that work in conjunction with the relationship of price action to the opening range.
There are several factors that play into the success of trading the Opening Range Breakout Strategy
We want to see some momentum in the price action bias. We identify this by understanding the type of trading day is present: Trending, Trend Expansion or Consolidation
We want to see volume increase as price action breaks out of the opening range
0Posted by Michael Glass on September 1, 2012 at 2:18 pm
Understanding Forex
What are the Advantages
of Trading Forex?
The Foreign Exchange Market (Forex) is market where currencies are actively bought and sold by banks, funds and investors. The Forex Market facilitates the conversion of one currency for another. It is the relative value of the base currency vs the value of the quote currency.
Today we are going to discuss the advantages of Trading Forex
Forex market is open 24 hours – Most brokers actually close for 30 minutes to reset their backend systems.
High Volume provides Liquidity – Liquidity is important when it comes to entering and exiting your trades. Remember, there has to be someone else on the other side of your trades.
Leverage – In states, regulations states we can have up to 50:1 leverage. International, I’ve seen up to 1000:1 leverage.
Ability to Scale in and out of positions – When you trade a stock, you have to sell the whole share; however, with Forex, you can sell off portions at a time.
Profits from moves in any direction
Low Transaction Cost – Most brokers offer a no commission plan for clients.
Market Transparency – The market is 100% electronic. No market makers to manipulate the market.
0Posted by Michael Glass on August 11, 2012 at 10:43 am
Understanding Forex Series
What is a Standard Lot
The Foreign Exchange Market (Forex) is market where currencies are actively bought and sold by banks, funds and investors. The Forex Market facilitates the conversion of one currency for another. It is the relative value of the base currency vs the value of the quote currency.
Today we are going to talk about what is a standard lot. A Standard Lot is the standard unit size of a forex transaction. Typically, one standard lot is equal to 100,000 units of the base currency. In other words, 1 standard lot controls $100,000 of the base currency. Many brokers allow you to break your transaction into smaller sized lots. For example, you might consider a Mini Lot which represents $10,000 or even a Micro Lot which represents $1,000.
100 Micro Lots = 10 Mini Lots = 1 Standard Lot
The lot size you choose primarily deals with position sizing. It also is one major advantage of Forex. When you attend to example a stock position, you cannot sell 1/2 a share. The same can be said for a futures contract; however, you can sell 1/2 a position in forex. Which makes your position size decisions very important. Watch the video above fore more information about the importance of understanding what is a standard lot in Forex.
0Posted by Michael Glass on July 25, 2012 at 12:42 pm
Understanding Forex Series
Interesting Facts About Forex
The Foreign Exchange Market (Forex) is the market where currencies are actively bought and sold by banks, funds and investors. The Forex Market facilitates the conversion of one currency for another. It is the relative value of the base currency vs the value of the quote currency.
To start our video series on Understanding Forex, we have compiled a list of Interesting Facts about Forex.
* Forex market is open 24 hours a day 5.5 days a week
* The forex market is the largest market in the world
* There is no floor in the forex market. Most trades are executed electronically
* There are no commission in Forex
* Leverage in forex starts @ 50:1
0Posted by Michael Glass on June 2, 2012 at 3:21 pm
Why Hire an
Investing Coach
Investing coach, money coaches, financial coaches, etc; there are so many words to describe an expert who will help you make sensible financial and investment choices. Sure, you may think “Why should anyone tell me what I can do with my money?” This is what most people think of each time they are offered investing or financial help. Others may even say” I am doing fine, why do I need help with my finances?” It is common to feel secure when you are having a great time spending your hard earned cash but what about tomorrow, what about your family or how about the economy?
An investing coach will not just be there when you have money to spend on investments and businesses; he is an expert who will help you live your dream. Just think about this, the money you spend today may double or even triple when you make efficient financial choices and this is only through the help of an expert investment professional. Here are more reasons why an investment coach is the best investment opportunity you will ever make:
If you have recently acquired a large sum of money and you would like to spend it wisely, then an investment or financial coach can help plan for the right steps to reach financial freedom. Do not waste time spending, start investing to reap larger profits in the future!
If you want to formulate an action plan to take care of all your finances or to generate more income, then a financial coach can help develop a concrete plan for you and your family. You can be sure that you are not following a simple generic plan but a plan that is formulated according to your needs.
If you would like to retire early and not work until you are dead as a doornail then you must hire a financial coach to help you make appropriate plans today to be ready for a great retirement in the future.
If you have tried to make financial decisions in the past but was not as successful as you want to be then you may hire an investing coach to help you find the best possible solution to your progress. Together, you can assess what’s hindering your financial progress and start doing something about it as early as you can.
If you want to learn strategies to focus on your goals in investing and financial planning then an investment coach or financial adviser can help you out. Let’s face it, distractions are everywhere and not everyone is resistant to financial distractions; you may learn techniques on how to seriously manage your wealth and learn to fight financial distractions along the way.
If you realize that you want to get off the financial roller coaster and to make steady plans to become financially stable as soon as possible, then an investing coach may help. Together you can plan ways to take care of your finances today and to make sound investments for you and your family’s future.
0Posted by Michael Glass on April 1, 2012 at 11:11 am
Basic Stock Market Trading Strategies:
Breakouts, Pullbacks and Bollinger Bands
The stock market has been known to be the greatest creator of wealth on the planet; however, it is often quoted that 8 out of 10 investors are losing money on a daily basis. How can both these statements be true?
The problem that most investor fall victim to is that they are not prepared to invest in the stock market. They get a tip from a television show or website and throw all their cash in hopes of that wealth untold; however, the usual results is pain like nothing they have felt before. Investing in the stock market takes much more than knowing what to buy. You also have to know when to buy and how to buy. You need to be aware of how much to buy and when to cut your losses. Today, we would like to focus on the How to Buy portion that every trade must learn.
So, we put together a list of basic trading setups that any beginning investor must learn and master before throwing real cash into the market.
Breakouts - A breakout is a stock price that moves outside a defined support or resistance level with increased volume.
Pullbacks - Buying weakness and selling strength is the art of buying pullbacks. Pullbacks offer low risk opportunities to establish a trading position
Bollinger Bands - Many traders use Bollinger bands to determine overbought and oversold levels, selling when price touches the upper Bollinger band and buying when it hits the lower Bollinger band.
Watch the video learn more about these stock market trading strategies
0Posted by Michael Glass on March 2, 2012 at 5:49 pm
Trading Blueprint
for New Traders
If I was at the beginning again at trading, I would emphasize that trading is like a business. Thus, you need to treat as such by creating a business plan or in trading, a trading plan. So here’s my trading blueprint for new traders.
Start off by understanding your strengths and weaknesses. In your contact, you discussed wanting to trade futures. They are great advantages to the futures market. My favorite is leverage, but with the advantage also comes greater risk when mismanaged. So, make sure the market you want to invest in matches your strength and weakness. Make sure you have a firm understanding of how money (capital, commissions, profits, losses, etc.) works just like a business needs to know assets and liabilities.
Then, you need to address the type of trader you want to be. By this I really mean a day trader or end of day trader. Even as a day trader there are different styles based upon the timeframe you want to watch the market. The longer the timeframe, the bigger your stop (the amount of money you can afford to risk) needs to be. This is very important and goes back to understanding the money.
Third, you can look for specific trading rules/strategies. You need to have a specific set of criteria that you follow. Only when those settings are matched will you enter a trade. This is all about being a disciplined trader instead of an emotional trader. If A, then B. If C, then D. Very specific. Make adjustments to the rules only when the market tells you to (which is when you start to see it not working).
Practice, Practice, Practice. Then Document, document, document. See what works. See how it affects cashflow. Document. Remember, it’s a business, not a hobby.
It’s only at this point that you can think about risking live/real money. Start small to get the feel of what it is like to make and lose money. Then go back and really make sure your rules, strategies, cashflow, risk tolerance still are the same.
Of course, I highly recommend getting a coach to help guide you through the process, but if I were at the start all over again, I would definitely treat it more like a business and not just a hope I would be successful.
I hope this helps. Feel free to contact me if any additional questions. Remember, there’s potential to both make and lose money.
Watch the video below to learn if You are Prepared to Trade
0Posted by Michael Glass on December 22, 2011 at 1:21 pm
What are the Advantages
of Futures versus Stocks?
When thinking about how to invest in the stock market, most people immediately think about finding a fast moving stock, Apple, Google, etc. However, it is important to know that the stock market provides investors a multitude of ways to invest their money. A Financially Literate investor takes the time to educate himself on those opportunities in order to find the right investment vehicle for his or her goals and objectives.
One alternative to investing in stocks is Futures Trading. Futures Trading is a form of investment which involves speculating on the price of a commodity going up or down in the future. Futures trading is mainly speculative ‘paper’ investing. In other words, it is rare for an investors to actually hold the physical commodity, just a piece of paper known as a futures contract. The most common commodities are:
gold
steel
cotton
corn
wheat
currency
Investing in futures has several advantages over other investment vehicles:
Leverage – To own a futures contract, the investor only has to have a portion of the value of the contract
Liquidity – It usually easy to get in and out of positions
Commissions – Commissions tend to be cheaper with futures contracts
Speculative – As we mentioned, you do not actually have to own the actual commodity
No Day Trading Rules – The Day Trading rules do not apply to futures contracts
Watch the video to learn more about what are the advantages of trading Futures versus stocks:
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