I was standing in front of a crowd of 330 traders and not one hand went up when I asked the question, “Who here watches your time and sales window when you trade? In other words, who here knows how to read the tape”? A rush of emotions went through me starting with shock and […]
Its’ not a competition, so don’t try to beat the market. I expect to lose, in fact, I expect 3 out of 10 trades to lose, just because. No reason in particular. Nothing I did wrong, simply because that is the odds. Do you enter into every trade thinking that you have to win? If […]
Sitting in the million dollar room at Schoenfeld Securities, I was taught not to think about money. I was taught only to think about trading correctly. If I followed the rules, the money would come. They were right! Over the past 20 years, I watched many traders burn out for various reasons, but the one […]
Today is the Beatles 50th anniversary in the U.S. Can it really be 50 years since we first heard those British Accents singing repetitive catchy hooks that you just couldn’t get out of your head? What made the Beatles so popular? Was it the simplicity of their lyrics? Or perhaps because they were so darn […]
That is the question that is mostly asked around the dinner table. Maybe you’re bullish, expecting the market to go up perhaps on an exuberant wild rally or maybe you’re bearish expecting it to go down perhaps on a steep 7-10% correctional decline? Expectations are a belief that is centered on the future. It’s widely […]
Suicide is the 3rd leading cause of death for ages 12-18 in the United States. More teenagers and youth die from suicide than from cancer, heart disease, AIDS, birth defects, stroke, pneumonia, influenza and chronic lung disease, COMBINED. Each day in our nation there is an average of over 5,400 suicide attempts by young people […]
When Catastrophe’s happen, there are three kinds of traders. The first kind becomes very religious, chanting “Oh my God, Jesus , Oh my God, Jesus, Oh my, Oh my God”. The second kind becomes paralyzed with fear, like a deer in headlights. The third kind of trader simply trades it, by yelling out Sell short […]
Whenever I tell people that I trade for a living, they always say the same thing. ” That’s gambling”. Well they’re right. It is gambling if you are not educated. Most people try to teach themselves how to trade by just jumping in to a trade they think might work, instead of taking the time […]
It’s the moment that I see my student’s eyes get wide, followed by a grin that creeps across their face. This is what I call the “AHA” moment. It’s the magical moment when all the pieces come together. It’s as if you had all the pieces in your head but they were backwards and upside […]
Is the road ahead paved with good intentions? We can’t just erase our debt, can we? Printing money to bail us out will have consequences down the road. This euphoric consumer confidence high we are on is a nice walk temporarily, but eventually the eraser will run out. Our children will suffer our overzealous lifestyles […]
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