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Have you ever felt as if the more you know, the less you know, and the more you become confused? Why is this? People have the tendency to believe that the accuracy of their forecasts increases with more information. This is the illusion of knowledge - that more information increases your...

Do you ever sit there looking at your screen hour after hour, a little tired and bored? You feel like you need some action, but nothing much is happening. You think to yourself, "I might as well get long, it's likely to go up before the Close." So you place your order, even though you have no...

You must be disciplined in following the plan of your trade. Once you have closed your position, you should record everything about the trade. Write down where you wanted to enter the trade, what you expected out of the trade, and what you actually did get out of the trade. Make sure to include...

Trading preparation demands you know how you are going to trade the market the next day before it opens. It means that you are mentally prepared to adjust your trading strategies intraday, and even go so far as to reverse trend after the market opens when necessary. Three basic steps to...

One week ago I received a couple of emails questioning whether or not I believe in support and resistance. In fact, one subscriber said if I didn't believe in support and resistance, then I couldn't possibly believe in trend! Why? Because in all cases the situation ends. Here's what I...

My approach to trading is not based on breakouts. The isssue was how can you tell when a breakout will occur. This is a question I receive at least several times every month.

Here are two ways to know when prices are getting ready to break out from a trading range. When prices are in a trading range, count the number of closes above or below a specific price near the vertical mid-level of the trading range. If 70% of the closes are above the mid-level price, and...

I post here in an effort help others. If you don't see it that way, then that's your problem, not mine.

Before you go off judging other people you need to find out the facts. We have had a long-standing, over 20-year relationship with Jerry Toepke and MRCI. We have sent them more customers than anyone on earth. We do not steal anything from them. Sure we use some of their seasonal trades...

Yes! Seasonal transitions create workable Spread strategies. I'll let my friend Jerry Toepke, an expert in seasonal fundamentals, answer. Jerry! You have the floor: "Change gives birth to risk - but also creates opportunity. Seasonal transitions create workable spread strategies because...

Yes, that's Andy's trading advisory, not mine.

What trading advisory might that be? I have no trading advisory!

Do you do an awful lot of research into a market before you attempt to take a trade in it? Do you look at fundamentals and try to glean as much information as you can about the underlying? Do you feel that you are doing a more than adequate job of information seeking, but are still not as much...

Hey Joe! I hate to lose. It seems to me that winning is everything - do you agree? Man do you have a bad case of “have-to-win-at-all-costs.”_ Every business has losses._ Even doctors, but they get to bury their mistakes._ Retail stores lose to shop-lifting and even worse employee waste...

Have you ever wondered how to get your ego out of your trading? Have you wanted to be market-centered, but find yourself consistently being self-centered? One thing I know for sure: your self concept has to be separate from your trading. You began as an individual long before you ever thought...

Hey Joe! I’m looking for consistency. Are the classical chart patterns sufficiently consistent for trading? Can you make a few comments about reliable chart patterns and how to use them? Chart analysis, which some people include in technical analysis, and short-term trading are truly...

Agreed, Trawler. Well said.

Rule #6 is pertinent for short-term and long-term trading. The idea is to be paid to trade. There are two ways to approach it: 1. Scalp--take it all of at once, with few ticks, on very high percentage setups. 2. Scalp out a few ticks, so that you are paid to trade, and then hold on with a...

1. Focus on markets, trading vehicles (i.e., equities, futures, options, spreads), strategies, and time frames that are comfortable for you and that suit your personality. The trades you make have to be “yours,” not mine or those of anyone else. Even when you purchase a method or system, it...

No way! While it is good trading to spread a winning trade if you feel the need to hedge your position, never spread a losing trade. Simply exit the market. The usual net result of spreading a losing trade is that both sides may be taken off at a loss. If you cannot admit you are wrong, or know...