Today was the cleanest setup for pyramiding futures that I have seen and traded. (Typically I see them after the fact.) It resulted in $300 profit, never risking more than $20 at a time, trading on 1-minute and 5-minute charts. Today’s S&P opened with a slight gap up. This week my outlook has been neutral…
How to Trade an Edge Like a Casino
I’m working on this exercise to see if I can earn profits with a price-based mechanical trading setup. I’ll be coldly unemotional, like Mr. Spock. I’ll also share the setup for a system I back tested for profitability, and will follow my progress and results here in adapting Mark Douglas’s exercise called “Learning to Trade…
Why Trading? Behind the Desire to Trade For a Living
I can’t describe it any better than John F. Carter does in Chapter 1 of his excellent book, Mastering the Trade. The rest of what follows on this page is directly from his book, which I hope you will read among others. Excerpt From Mastering the Trade, Chapter 1, by John F. Carter Reasons for…
My Learning Library for Trading
These books have been helpful to me as I learn to trade. The New Trading for a Living by Dr. Alexander Elder | Here is the book that started it all for me. This is a reference standard for people who are serious about getting into trading full- or part-time, detailing trading psychology, methods, and…