How many times a day on social media are you shilled a magical stock chart pattern that can instantly make you a consistently profitable trader? While chart patterns are useful for providing information about a stock’s trend, they alone will NOT make you a successful trader. This is one of the biggest misconceptions new traders …
When you commit to trading, you commit to the launch of a small business. And in the beginning, you want to keep expenses low while your ability to be consistently profitable is still unproven. Keep business costs low until consistent revenue is assured, and then scale up and reinvest back into the business. To help …
Despite what you see on social media, trading is a game where over 90% of people fail. So why do most traders fail to become consistently profitable? A primary reason is their belief systems. Most of these traders lose in the long run because they do not have the winning belief systems needed to optimize …
The trades you don’t take are just as important as the trades you do take. Everyone’s been here: You are up nicely on the trading day. You’re hot and in the grove. All of a sudden, you take a losing trade after a series of winners. All good, I’ll take the next setup I see …
Buy Virgin Galactic at the open today expecting it would go to the moon? The stock had great news, why did it tank today? The stock market isn’t that simple. Get familiar with this phrase: “Buy the rumor, sell the news”. This is one of the most counterintuitive aspects for new and inexperienced traders. Today’s …
Trying to time the exact bottom or exact top is one of the BIGGEST mistakes new traders make. We see traders every day on Twitter sharing their bottom tick or top tick prints. But what you do not see is the 5 losses they took on the way down trying to guess the bottom, and …
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