The Clock Is Always Ticking
I’ve got only two action items for the day as I head into my self imposed EOY mini vacation until Jan 4th: #1: Wish everyone a happy new year.
All Posts by Mike
Size Matters
If either your spouse, your girlfriend, or your broker ever tell you that “size doesn’t matter” then rest assured that you are being lied to. And yes it does matter ‘how you use it’ but it comes with some caveats.
Being Right Will Make Being Broke A Certainty
If you’d ask me to pick the #1 reason why a majority of new traders end up being shaken out sooner or later, I would point without hesitation at the compulsive need of wanting to be proven right. No contest. Nothing even comes close. A stubborn insistence on being proven right continues to wreak havoc on trading accounts all over the world year after year.
All Traders Should Be Trading Volatility Products
In the world of trading and financial blogs it’s easy to get overrun with useless and outright false information. Over the years I have had many brushes with the turbulent world of prop trading, so I can tell you some secrets that pros know and retail traders only wish they knew. Until now!
Merry Christmas!
It’s a sunny 60F (15C) here in the upper regions of the Pyrenees with exactly zero possibility of a white Christmas. However that hasn’t kept Mrs. Evil and I from kicking our Christmas celebrations into high gear. Unfortunately Spain is one of the worst countries on the planet right after Indochina or the Sahara desert to observe Christmas. So as someone who grew up in beautiful and snowy Austria one has to go the extra mile to get into the spirit of things.
We All Suffer From Cognitive Bias
One thing all traders have in common is that we are all human. Which means we are all subject to the whims and flows of our emotions in our logical decision making process. If you think you are the one exception, think again. Let me explain.
Algos Account For The Majority Of All Trading Volume
In the world of trading and financial blogs it’s easy to get overrun with useless and outright false information.Over the years I have had many brushes with the turbulent world of prop trading, so I can tell you some secrets that pros know and retail traders only wish they knew. Until now!
Trading is not stressful, losing money is stressful
If you’re trading correctly, sticking to your trading plan and following the black & white rules of your systems then life as a trader isn’t stressful. In fact, it’s actually kind of boring after you become good at it. And boring is the way it should be.
Spoiler Alert: There Is No Magic Indicator
If you are using any modern trading platform such as ThinkOrSwim, TastyWorks, TradeStation, Etrade, Charles Schwab, Multicharts or NinjaTrader, they come loaded with HUNDREDS of built in indicators.
Technical Analysis Is Highly Subjective
In the world of trading and financial blogs it’s easy to get overrun with useless and outright false information. Over the years I have had many brushes with the turbulent world of prop trading, so I can tell you some secrets that pros know and retail traders only wish they knew. Until now!