Key Trading Guidelines You Must Follow to Trade Successfully

Today I talk about the 16 key trading guidelines I believe that any successfully trader must have in order to become a long-term consistently successful trader, regardless of the market or time frame you use. So, grab a pen and paper and be prepared to take notes, because this will definitely help you become a better trader IF you methodically follow what I’m going to show you here.

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Time Spreads for Income

Today we’ll look at a Time Spread, AKA a “Calendar Spread.” It has some very different characteristics than the Credit Spreads that we use with our Iron Condors.  

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Watch This Quick 2 Point ES Buy This Morning

Today there was a beautiful buy trade set-up in the ES (at 10:21am ET) where the market was looking like it was going to get killed. I explain the reasons behind the long trade so you can not only learn from it, but potentially add this type of trade set-up to your own trading toolbox.

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A Pause in the SPX, or Something More?

Good morning, Friends. A look at the daily chart of the S&P 500 index (SPX) shows, apart from a decline on the day, price action that has been moving steadily up and to the right. This is obviously very bullish, but it appears that given the current assessment of risk and reward, 1354 or so […]

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Mega-trend approaching?

Once in a while, markets get into a situation where they scream higher in a perfect storm. It would not surprise me to see the NASDAQ composite turn into one of these trends if all the pieces fall into place. There is still a lot of sideline cash looking for a home. 

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See As I Pulled the Plug Too Early On This LIVE ES Trade

Watch as I’m long the ES this morning at two good logical support levels, then watch as I decide to pull the plug early before my first profit objective is hit… a mistake you can learn from. My first profit objective was 1345.50 and I decided to exit my whole position about .50 lower than that, to then see the market immediately rally to 1346.50 within five minutes of exiting early. Learn from my mistake – follow your rules and don’t let emotions get involved. I know better, learn from this!

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Weekly Overview in the ES, EURO & EURJPY

Today I discuss the weeks price action in the ES market and give you good support levels in which I would be looking to buy back into the market for a few bigger trades to the upside. I also discuss potential shorting opportunities in the EURO and EuroYen currency pairs. Have a great weekend!

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Slopes and Shoulders and Trends

The current trend appears to be very strong, but how strong? Is there any way to quantify it (besides indicators like ADX, etc)? Let’s see how strong this trend is via a couple of objective comparisons/measurements.   

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A New Trader Workspace Created for Floor Pivots Numbers

Today I’m excited to show you a new trader workspace I had created in Tradestation specifically for the floor trader pivot numbers. This workspace makes it easier to see all the important floor pivot daily, weekly, monthly and yearly support and resistance numbers at a quick glance. I thought I would show you this new software I had created since it helps so much in my decision making process – it should help you too.

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Using Intraday Channels

Intraday channels can be used to determine if the slope of the advance/decline is changing, tipping you off to a potential change of character in the trend, always a useful thing to know. 

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