Step 1: A move begins with the sponsors (smart traders) who have insider knowledge as it relates to a particular stock or market. This information will move a market up or down depending on the insiders' information. These buyers are smart, very smart, and recognize trading/investment opportunities very early in the markup cycle.
Today I'd like to welcome Lawrence Korbus, Chief Forex Educator and Professional Trader at Tsunami-Trade.com to the Trader's Blog! Today Lawrence teaches us a little about how he enters trades and analyzes the markets. Please enjoy the article below, comment to Lawrence with your thoughts and insights, and check out Tsunami-Trade.com to see what he does!
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I was sitting as an invited “expert trader” on a panel with 4 other traders at the 2009 Las Vegas TradersExpo last week. They called the standing room only panel discussion: “Successful Strategies for Profiting from Forex Trading.”
They asked the question of all of us, “How do you make money trading the Forex markets?” The panelists said some things about using their decades of experience to get a “feel for the market”, and then they each in turn cited several different methodologies such as trading breakouts, and using proprietary sentiment and Elliott Wave analysis to come up with “an area to trade”. They were not more specific than that on how they entered trades. Although they all differed in how they entered trades, what I found most interesting that they all had one thing in common. They all said that they would scale out of the trade as the trade hopefully went in their direction.
Continue reading "An objective method of trading in any market and any time frame"
At MarketClub, our mission is to help you become a better trader. Our passion is creating superior trading tools to help you achieve your goals—no matter which way the markets move—we promise objective and unbiased recommendations not available from brokers.
Here's great news from a member...
"I've been using MarketClub for several months now, and my experience has been phenomenal. After trying and choosing for some of the web-sites I've been using, MarketClub for me is not just different is the best.
Talking about all the services that I can find once I log in, there is plenty of things I am able to do using my tools for the traders in MarketClub. One of those tools is the Trade Triangles which gives valuable points of views on what direction the market or one of my favorite stocks is heading to. Giving an example of a good performance using the talking charts which are awesome by the way and the Trade Triangles, for me could be (QSII) Quality Sys Inc. A weekly buy signal was posted on March 10, 2009 and this stock is been moving in positive way since then for almost 50%, I believe this talks a lot of how good and comfortable I feel knowing that MarketClub is here with me to help. Thank you MarketClub." ~ Manuel R., Florida
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Today's Guest blogger is Norman Hallett from The Disciplined Trader, and today he's challenged us to answer two very tough questions that ALL traders should sit down and think about. They have to do with our mental approach and Norman's one of the best at helping traders.
These are the first two questions of a 10 question quiz. If you want to see where you stand as a disciplined trader (or lack of it!) then take the whole 10-question quiz. It won't take much time and it's free. He's looking forward to your answers and comments!
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The following 2 questions will conjure up different visions for each person. The idea is to relate to certain trading experiences and what actually happened in such situations-not what sounds like the best answer. Moreover, if a described situation has not yet been experienced, try to make an honest appraisal of how you would act. Again, not what sounds correct but how you think you would actually correct. Remember, being a successful trader requires continuous and almost brutal self-appraisal.
There are no “perfectly disciplined” traders. But there are many traders who come close. This quiz is meant to help you assess where you are in your quest to be The Disciplined Trader and help you to identify areas that you may want to improve upon… because the way to maximize your potential as a trader is BE The Disciplined Trader, and adhere to your tested trading plan without hesitation.
The following are the first 2 questions (and answers).
Continue reading "Be Honest With Your Answers To These Two Questions..."
Attention all MarketClub Members:
A daily Trade Triangle flashed an exit signal on spot gold this morning at $1,161.94
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