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To Trade During Lunch or Not As a follow up to the “Netpicks 2012 Market Predictions” webinar, I thought I’d elaborate a little on why I said I wanted to focus more on specific time periods within the primary day trading session. Before I explain my reasoning I’d just point out that this probably applies to intraday traders more than anyone else, although when anyone enters or exits a trade, they are acting on an intraday basis. So why do I think lunchtime trading is something to avoid? Well like everything in trading, it has to be determined based on your strategy and your personality. If it works for you, do it. But for me, the difficulties with trading over lunch are many. As I trade the ES, I will focus on that. I have put together some basic average stats from the past 3 years which illustrate my point …
Troy “TJ” Noonan 2012 Market Predictions Our NetPicks Coaching Team put together their market predictions for 2012. Listen as NetPicks Coach Troy “TJ” Noonan discusses his predictions for the year in trading to come.
Mark Soberman 2012 Market Predictions Our NetPicks Coaching Team put together their market predictions for 2012. Listen as NetPicks President Mark Soberman discusses his predictions for the year in trading to come.
When people find out you are a trader, the first question usually asked is “what market do you trade? Stocks?” When I reply “Forex”, a puzzled expression crosses their brow and I am almost always forced to tell them that it simply means currency trading – trading one currency for another. I tell them that it is no different than when they exchange their home currency for a trip to another country that uses a different denomination. Again, more questions about how you make money doing that and the topic of “pips” comes up in relation to account size and risk. By then, their eyes gloss over and the topic changes to sports. Rarely am I ever asked why I chose currency trading over other vehicles. For the budding trader that comes across this post, I’d like to share my reasons for choosing currency trading and why I believe you …
Ever notice when you start something new that people always say to you “make sure you have a backup plan!” It is usually said with a dismissive attitude and usually from those people that have never broken out of their own comfort zone. I don’t know about you but I’d rather listen to those that have been there…done that….and consider their input. Backup plans are fine but usually, if you have one, you will fall back into it. Odd how that happens isn’t it? However, this is about a different type of backup plan. This backup plan will help ensure you don’t lose money when the inevitable happens and the lifeline to your trading account, the internet, goes down. This week is my first week back at trading. I started off with a decent swing trade that was carrying over into Tuesday. I booted up the computer and could not …
We continue our 2012 Market Predictions with a presentation from Coach Shane Daly. Follow along in this video as he recaps his year trading in 2011, whether he stuck to his list, what he thinks personally will be happening in the markets in the year to come, and tried and true methods that will stand the test of time for 2012. Good trading.
NetPicks Educational Webinar The new year has begun and you know what that means… new market movement, opportunities and chances to profit! In this free educational webinar, you’re going to hear all about our market predictions for the coming year. What’s going to be white-hot in 2012, what trends are going to grow ice-cold and which 2011 trading techniques are going to stick around and make the long haul throughout 2012. Hear from myself, Mark, along with my co-pilot Brian as well as other members of the NetPicks Coaching Team (TJ, Ron, Will – we’re all going to be there in full force). If you’ve been wondering what’s going to change this new year, don’t hesitate to sign up for this FREE educational discussion and we’ll see you on Tuesday.
What Traders Need to Know to Assess their Trade Plans and Track Their Trading Progress I recently ran into a neighbor at the local grocery store who knows that I have been trading full time for a number of years now. He has a full time job at the Pentagon, but like a lot of people, also has a stock portfolio that he manages for himself. He often asks me what I think about particular stocks, or what direction I think the market is going, but this time the first question he asked me was “what is your win rate”? Now, I usually tell him that my opinion about particular stocks or the direction of the market is of little importance (even to me), and that no one should be taking stock trading advice or tips from anyone without first having their own solid back tested trading plan. But this …
NetPicks Authors Series Tuesday, February 7, 2012 12:00 PM – 1:00 PM EST http://netpicks.com/denise When it comes to investing, we’re usually taught to “conquer” our emotions. But our next special guest in our NetPicks Author Interview Series actually sees it in reverse: We can use our emotions as an edge. Join us as we sit down with Denise Shull, author of ‘Market Mind Games‘ – a fascinating book that weaves the story of contemporary neuroscience into a compelling argument for rethinking how we think about RISK. (Everyone’s favorite demon!) Combining her expertise in neuroscience with her extensive trading experience, Denise and I will give you actionable tips on how to improve your decision making by navigating the shifting relationships among reason, analysis, emotion, and intuition. This is your “psychological capital” — and it’s the key to making your best judgment calls in the midst of any market. Learn more on …
Identifying Chop with the ADX The last few articles in this series have focused on identifying chop in the market. We started out with an overview, listing several technical analysis indicators that can help in the process, next we focused on the Bollinger Band Squeeze to identify consolidations, and finally we looked at a noise filter to highlight noise, or choppy price action, in the market. In this article we’ll take a look at the ADX (Average Directional Index). What Is It? The ADX was developed by Welles Wilder to identify periods of trending price action. The calculations for the indicator are based on changes in consecutive bar highs (+DI) and consecutive lows (-DI). DI stands for Directional Indicator. These values are combined and smoothed to yield the ADX. The exact calculations are too complex for this article, but you can find the details on line. As originally designed by …
