Most new traders out there want to spend the least amount of money possible on trading related expenses. They want free scanners, free charting software, free education, and commission-free trading. You don’t need to go crazy with expenses, and don’t need to be spending more than $400 per month on software. But it is a …
It is almost impossible to consistently make money from the stock market without technical analysis. I know there are traders that think they can trade off pure fundamentals. But making money from the stock market is the result from being able to time the markets. Fundamentals help bring conviction to a trade, but they will …
I get dozens of emails and requests everyday asking me about how I make my watchlist. My routine is simple. Every trader needs to take the time to prepare and make trading plans before the market opens. You cannot consistently make money by following others’ alerts. You don’t have to do exactly what I do …
Big egos are the #1 cause of account blow ups. No one likes to admit they are wrong. But unlike in life, the consequences of stubbornness are much more severe in trading. Getting attached to your opinions is the worst possible thing for your trading career. Trading education everywhere talks about the importance of keeping …
Scared money does not make money in the stock market. Traders who trade with fear will never be able to consistently extract income from the markets. Fear manifests itself in many different forms in trading. We discussed one of the forms yesterday in our article about FOMO. Today we will talk about the other ways …
FOMO haunts traders of all experience levels. Fear of missing out on a big market move causes traders to make rash decisions, and costs them big money. It was one of my biggest obstacles on my path to becoming a successful trader. For some people, missing out on a big move is worse than taking …