Online trading tips for Forex, Futures, Options. Learn how to improve your trading business.
Exchange-traded products (ETPs) have grown in popularity as more products have become available and more traders have become aware of their benefits. ETPs look like stocks, trade during market hours on stock exchanges, and provide similar trading opportunities including order types (market, limit, stop, etc.), short selling, and options. How are ETF’s different than stocks?… Read more
The Keltner Channel trading strategy uses a volatility based trading indicator to allow us to trade markets that are showing some decent price movement. Indicators are derivative of price meaning that the results that you see via a trading indicator will come via a calculation using the price you see on your… Read more
Trading is all about taking a risk based on incomplete data and becoming an expert at this should lead to profitability. Learn from the mistakes you make but make sure the lessons are the right ones. Using historical charts can lead us astray because in hindsight, everything is obvious. So… Read more
Without using a trading log to log your trading activity, you will have no clue if your trading strategy has a chance of working over the long term. How could you? You need data to back up the probability of your trading strategy and a trading log is the best… Read more
We recently did a video outlining the 3 essential keys to determining if a chart is worth trading and now let’s see if the Russell e-Mini is a market worth day trading and if so what chart. Let’s first review the 3 essential questions: Are there enough trades in our session? Are… Read more
“There’s no such thing as support and resistance levels” When I first heard that I thought “What kind of rubbish is this guy talking?” What are support and resistance levels? “support is a level or area on the chart under the market where buying interest is sufficiently strong to overcome… Read more
In this short video I want to give you 3 tips to finding which charts to day trade. This is a topic that comes up a lot in our day trade rooms. We get this question all the time and it is a daunting task or at least on the… Read more
It’s the biggest time of the year for hockey fans as the playoffs are now in session. During this types of “do or die” moments, I get thinking about motivation in sport and the similarities of the issues traders face. Potentially one of the biggest issues a retail trader faces… Read more
The E- Mini futures markets are both seductive and treacherous. On any given session a trader can find numerous opportunities. But along with opportunities come many hazards. In fact, navigating your way through an eMini session, without losing your hard earned capital, let alone your shirt, is much tougher than… Read more
You don’t have to be a programmer to build your own automated trading strategy. If you use TradeStation you can create a custom strategy using a slew of built in strategies and trading indicators that you can mix and match. In this article we’ll show you how to put together… Read more
Use A Trading Indicator With Price Action
Trading indicators as a form of technical analysis are an important part of the trading system and strategy of many traders. Whether traders are looking for a way to determine a trend or a buy/sell signal, technical indicators are the first line of offense that they use. I know we… Read more
Your Fake Motivation Will Hold You Back
You know what people are great at? Talk. I know you’ve had conversations with someone who rattled on about doing this…doing that…….and they actually were pretty convincing. You know what people are not great at? Taking action. I’m talking about the hundreds of hours (10,000??) spent diving headfirst into accomplishing… Read more
Trades of Opportunity | Spotlight Power Trader
You have a trade plan but after years of experience you learn that trades of opportunity do present themselves. These are trades that set up outside of the parameters of your trading plan and may violate some of your rules: You have completed your “Power of Quitting” trading goals for… Read more
2 Minute Crude Oil Trade – Power Of Rules
Traders in our trade room took part in a rare Friday session trading Crude Oil futures on Friday July 7, to make up for my “fun in the sun”, earlier in the week. That brings up one of the major benefits of trading for a living: I didn’t have to… Read more
Trading Crude Oil Futures can can be a challenge for sure but this is one tradeplan I will never miss, so long as I have my computer and an internet connection. There are many wrong ways to trade crude oil futures but one of the right ways, one of the… Read more
Trading The MACD Indicator Like A Pro
One of the first indicators I ever experimented with was one developed by Gerald Appel in the late 1970s called the MACD indicator, otherwise defined as the moving average convergence divergence indicator. The MACD histogram was added in 1986. Right from the start I used it as a technical analysis tool,… Read more
Worst Time To Day Trade Most Markets
One of the worst times to day trade is during the time when many traders take lunch and this is a good time for you to stand aside. To go on further and elaborate a little on why I say this and to make the point, I wanted to focus… Read more
You Are Wasting Time Asking These Types Of Trading Questions
Ever hear that if you want a meaningful answer, you need to ask the right question? Asking questions in a general way will give you an answer that is not actionable. That is what you are looking for though. You want an answer that will give you a way to… Read more
Being Average Is Easy
The hard truth is that people are prone to mediocrity. They talk a good game but in the end, they fail to move forward with any plan on attaining what they dream of the most. Even worse, they tend to criticize those that have the guts to take a giant… Read more
Add This Variable To Your Trade Plan
Let’s be honest….we would all be better day traders if we only knew when to stop trading each session. Before I discovered NetPicks, I wound up giving back a lot of my trade profits. It actually felt worse giving back hard won profits than it did just losing outright. The… Read more
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