0Posted by Michael Glass on February 26, 2012 at 12:02 pm
Why do 90%
of all
Day Traders Fail?
It is often quotes that over 90% of all Day Traders Fail. The obvious question is WHY? Why do 90% of all Day Traders Fail? Well to start, you have to look at what exactly brought the investor to the stock market. Was it a sound plan with achievable objectives? Or was it a hot tip they received from a friend or saw on TV. My p oint is that many traders have their fingers burnt because they did not take the time to define why it is exactly that they are investing in the stock market.
That same trader will unrealistic goals now heads to Google to look for the Legend of the Holy Grail. They search day after day looking for some magical indicator or trading system that will remove all risk from traders. Of course, their are trading gurus promising just that. Buy my system and I’ll show you a cant miss trading strategy that anyone can replicate. If it is truly this easy, again I ask, Why do over 90% of all investors fail?
The answer? Consistent and profitable traders are aware that the key to success in trading is NOT found in a technical indicator or trading system. Instead they understand to be successful in the stock market that you must develop a trader’s mindset. You must be able to handle the emotions o both winning and losing trades.
0Posted by Michael Glass on November 22, 2011 at 7:05 pm
How to Develop
Your Premarket
Routines for Trading
In our previous post, we discussed the importance of developing trading routines. A Trading Routine could be considered a checklists you create to help you become more productive and more organized. Trading routines can also help you maximize your Return On Investment on each trade. In the end, we hope the routines outcome will produce habits of success.
We also described the three important routines every trader should develop: PreMarket, Intraday and AfterMarket. Today, we are going to focus in on how to develop a PreMarket Routine for Trading. Your routine should help you accomplish the following tasks:
Getting yourself up to date on the market; • Assessing your portfolio;
Getting ideas as to what stocks might be ‘hot’ that day;
Knowing if your positions have any new news that could cause volatility;
Being ready to trade when the market opens at 9:30 AM EST
Developing your pre-market routine is crucial to your success as a trader. Pre-Market routines help you locate new trading opportunities and plan your day so that you are not spending market hours devising new strategies but rather using your resources properly and following through with trading plan. Watch the video below for more resources on how to develop your premarket trading routine.
0Posted by Michael Glass on November 17, 2011 at 8:50 pm
How to Develop Your
Own Trading Routines
Intraday Trading Routines
A trading routine help to search out potential trades and get the information that is critical and/or important to that potential trade. Developing a trading routine goes hand in hand with being a focused and disciplined trader. We use these checklists to help you become more productive and more organized. Trading routines can help you maximize your ROI on each trade. Their outcome is to produce habits of success.
There are three types of routines every trader should consider:
PreMarket Routine – Preparing for the current market day
Intraday Routine – Adjusting for the current market climate while looking for new trades
AfterMarket Routine – Summarizing the events of the day and begin to prepare for the next trading session
Here are somethings you should consider including in your intraday trading routine:
Be aware of daily Economic Releases
Be aware of daily Earning Releases
How are the sectors of the stocks you hold or are watching performing, any changes?
0Posted by Michael Glass on August 6, 2011 at 4:22 pm
Weekend Stock Market
Technical Analysis
Trading Plan
Here is our Weekend Stock Market Technical Analysis Trading Plan for Saturday, August 6th. In each video update , we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including recently signed US Debt Ceiling deal and renewed debt concerns for Spain and Italy. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Netflix and Priceline). We also try gain insight to the market’s future direction by looking at the charts for The Dollar, Gold and Crude Oil. Finally, in our education spotlight, we begin our book study using the book The Intelligent Investor by Benjamin Graham. Today we talk about what is NOT required to be an Intelligent Investor.
0Posted by Michael Glass on July 30, 2011 at 3:24 pm
Weekend Stock Market
Technical Analysis
Trading Plan
Here is our Weekend Stock Market Technical Analysis Trading Plan for Saturday, July 30th. In each video update, we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including the stock market pricing in the possibility of a debt ceiling increase. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Netflix and Priceline). We also try gain insight to the market’s future direction by looking at the charts for The Dollar, Gold and Crude Oil. Finally, in our education spotlight, we continue to look at what separates winning and losing traders. Today we look at the importance of being able to distinguish between high and low risk trades.
