Trading Wisdom Lessons

Chart Pattern Trading Advice From a 20+ Year Professional

Chart pattern trading falls under the category of technical analysis and represents one of the more popular approaches to making buy and sell decisions using charts. We as humans love forming patterns in all areas of our lives and analyzing price charts is no different. I don’t personally consider myself a chart pattern trader, but…

Commissions and Taxes Are Destroying Your Trading Profits

Eighteen thousand three hundred and sixty-four dollars. That was the total cost of commissions I paid to Scottrade when I just started trading. My trading account was around twenty-five thousand.

Do You Have What it Takes to be a Trader?

Do you have what it takes to be a trader? Better yet, are you sure you want to be a trader? Actively trading public markets, and consistently profiting, is extremely difficult. The stock market is dominated by sophisticated players, with access to information, computational power, and speed far greater than any of us small retail…

Trading Mistakes and Bad Habits to Avoid

I was recently asked about some of the trading mistakes new traders fall into when starting out. It was easy to come up with a lengthy list, mainly because I’ve personally made all of these mistakes myself, and in most cases, more than once. I thought it would be fun to put together a bulleted…

How to Emerge From a Trading Drawdown

Trading can really suck sometimes. Especially during those times where everything you touch turns out to be wrong. Those dark periods are part of the business, and unfortunately, it’s just a matter of time before you find yourself in the next trading drawdown. Recently I found myself in a very challenging environment. Choppy price action and quick shakeouts with…

How I Took my Trading to the Next Level

It’s that time of year again: going to ugly sweater Christmas parties, planning for the new year, and looking back over the accomplishments and mistakes of the year. This is my favorite time of the year, and, no, it’s not for the Christmas parties. It’s because it’s a time I take a detailed look at…