One of the things I have always enjoyed, is sharing what I know with others. I have to thank my parents for teaching me the joy of sharing.
So it is in their memory, that I am excited to share with you, what I hope will be an informative, interesting and helpful series of trading lessons.
Video Link on next page
I think we've all been there...we've made a trade, we're happy with that trade, and yet our reasoning behind the trade was wrong! Today I'd like everyone to welcome Bob Iaccino from TraderOutlook.com. Some of you might reconognize the name, and that's because Bob is a frequent contributor on CNBC, CNBC Asia, Bloomberg Television, Bloomberg Radio, CNN, CNN International, Fox News, and several other media outlets as a special guest analyst. Yeah he's all over the place and he knows what he's talking about.
Enjoy the special Sunday guest blog, please post comments to Bob or about the article, and spend a few minutes on TraderOutlook.com and watch his forex videos!
====================================================================
I remember one of the smartest human beings I’ve ever mentored, in my 15 years in the markets, explaining a trade he wanted to place. Let’s call him “Neal.” Neal told me that the Fed needed to raise rates immediately and he was piling up long USD. Well, the rate rise never came, but he made $1oK on his position anyway. The market was pricing in a larger rate rise in the future. He then prances around my trading room like a show horse, talking about how he was right for taking such a large long position. I walked over to him and proceeded to tell him that we were taking the money out of his account. “What?! Why?!” exclaimed Neal. “Because you were wrong. You said the Fed was going to raise rates immediately and they didn’t,” I told him, “so you have to give the money back.”
Continue reading "Good Trades, Bad Trades and the Trap of Being "Right""
Larry has been trading the markets for over three decades and has a unique insight into the futures markets.
It is the battle of the tech titans as both RIMM and AAPL battle for the smartphone market share. Although Research In Motion is a well established tech giant as the creator of the BlackBerry, they may have hit a wall with Apple, Inc.'s launch of the phenomenally popular iPhone.
This tech battle may create a way to trade these markets with a lower risk. During this latest rally, RIMM did not perform well, nor were the changes in price as exuberant as the shares for AAPL.
Video on next page
Continue reading "AAPL vs RIMM ... battle of the tech titans (New video)"
Today I'd like everyone to welcome David Waring from InformedTrades.com to come and teach us a bit about the all important trailing stop loss method! It's always a top question among members and David makes it clear the best methods to use. Enjoy and feel free to comment!
=====================================================================
In all my years one of the most frequent topic I discuss is the psychological difficulties people have with letting their profits run, and how the concept of the trailing stop is one way traders can overcome these difficulties that are the downfall of so many traders.
Once a position has begun to move in a traders favor many successful trader’s will manage that position through the use of what is known as a trailing stop. The simplest type of trailing stop is what is known as a fixed trailing stop which simply moves along behind a position as that position begins to move in the traders favor. The beauty of the fixed trailing stop, is that while it will move up behind a long position or down behind a short position as the position moves in the traders favor, if at any time the position begins to move against the trader, the stop does not move, essentially locking in a large portion of the gains the trader has made up to that point.
Continue reading "How to Lock in Profits with Trailing Stops"
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.
