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Weak

Knowing your way around a chart

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple and straight-to-the-point.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

Today he’s going to talk about knowing your way around a chart.
For most traders, charts are like their road maps to potential trades. Technicians see potential patterns, key clues that they interpret for trading opportunities. Fundamentalists see confirmation of news stories or supply and demand dynamics playing out in the price fluctuations. Charts are indispensable to traders

Understanding what a chart is telling you is paramount for traders [Read more...]

Coming Back From a Loss

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

A friend of mine in the pit had been having a rough time of late when he asked me a typical question among us traders - How do I come back from a loss? Since he had been having a "rough patch" and not just one bad trade, I gave him the following advice that is to be used over a period of time.

First I asked him, "What does your trading journal look like - or maybe you don't have one?"

He didn't think it was necessary, which was his first mistake. It is critical to keep a trading journal.

In my journal I ask myself everyday "Did I follow my trading plan properly? Did I do anything wrong and if so, why?" If I did follow my plan correctly but I lost money, I am not hard on myself. Sometimes this happens! If I didn't follow my rules but still made money, however, that's a problem.

I highlight these days so I never repeat this fatal flaw. One of the worst things you can do is ignore your rules and make money, because then you feel that "winging it" is a good plan. It is not.

If this happens, you have to ask yourself; "Why didn't I follow my rules?" Was it lack of confidence in the system? Fear? Or did my ego want to be the hero that sold the high?" [Read more...]

Weekend Lesson: One -Time Framing

Straight from Trading Advantage's virtual lessons, Larry Levin guides viewers through the One-Time Framing Technique. Using a simple 30 minute bar chart, Larry helps define the steps that can help you identify short term trends. Discover Larry's technique - learned early in his trading career - through a series of clear signals on multiple S&P chart examples. Larry even shows viewers how to apply this technique when considering technical stops versus money stops. Step into Larry's world and learn more!

Watch Now: One Time Framing

Every Success,
The INO.com Team

Avoiding Mental Sabotage

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

I have heard that 95% or more of all traders ultimately fail.

Have you ever wondered why?

Most traders will tell you it was the system or method they were using. They'll also tell you they had a few bad trades they couldn't recover from. Or their dog chewed through the telephone cord just as their computer crashed, and they couldn't get out of a losing trade. [Read more...]

Know Your Limits

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

One thing that I see that catches traders up all the time is knowing their limits. There are times when it is probably wiser to step away from a trade or not trade at all.

Sometimes the best favor you can do for yourself is to take a break.

It doesn't matter who you are or what kind of trading you do. There are going to be times when you need to step back and take a break from things. This can happen after a bad trade, a big loss, and even after a really good performance. It can help you get things back into perspective. It also allows for an opportunity for you to review your trades, and learn from any mistakes or plans that you think cost you in the long run.

It is easy for traders to get caught up in the action. [Read more...]

Candlestick Patterns – Harami

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

I've already covered some of the better known patterns like Doji and Engulfing  – now it's time to add Harami to your candlestick chart pattern arsenal. Let's take a look at what this technical signal looks like, and what opportunities might be presenting themselves when you see it.

Harami patterns can be bearish or bullish

Harami, like engulfing patterns, are a two candlestick formation. They are actually often confused with engulfing patterns because they both involve candles where one real body is bigger than the other. The difference is that in harami, the preceding (or first) candle in the pattern is the longer one of the pair; it encompasses the whole body of the second candlestick. [Read more...]

Candlestick Patterns - Engulfing

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

Candlestick charts have all kinds of potential patterns that technicians are watchful for. One of the easiest to spot is an engulfing pattern. This set-up consists of two candlesticks, one of which is “engulfing” the previous one. That means the body of the second candlestick is longer than the first one. It doesn’t have to extend beyond the wicks of that first candlestick, just the real body. period of time. [Read more...]

Candlesticks - Using the Doji

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

On a candlestick chart, there is a pattern that technicians refer to as a doji. A doji has top and bottom shadows like a regular candlestick, but has practically no real body. This happens when the opening and closing price are the same, or so close that they just leave a sliver of a real body. A doji looks like a plus sign or cross. [Read more...]

Candlestick Patterns – Kicking

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple and straight-to-the-point.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

I think it's time for another look at Japanese candlestick analysis. Let's take a closer look at kicking, widely considered a high reliability pattern in candlestick charts.

Kicking patterns are another reversal signal.

Kicking patterns on a candlestick chart are formed when there are two marubozu - one white and one black - with a gap between them. Bullish kicking patterns would present as a black or filled candlestick without any wicks (shadows) followed by a gap higher with a white or hollow candlestick that is also without wicks. These are marubozu. They are formed when the market has a particularly one-sided trading session that closes at the high or low leaving just that real body of the candlestick. [Read more...]

How the open can make or break your day

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple and straight-to-the-point.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

Today he’s going to talk about how the open of the market can make or break your trading day.

The open for any trading session can set the tone for the day’s trade. Barring any major fundamentals, it can signal whether or not traders are going to be primarily bearish or bullish, or neutral and cautious. The start of the day can set the stage for your own trades as well. Starting off with a winning trade or having the market move in your favor at the beginning of the day gives you a confidence level that can propel you to an extremely successful trading day. Having a negative tone or having the market move against your analysis and any open positions will probably color your judgment for the rest of the day. [Read more...]

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