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A lot of successful traders will tell you exactly what they're doing. There are no big secrets in trading. Here's what I learned over the past few months from other traders and confirmed it myself through screen time and actual trading: Follow the trend: Buy on a show of strength, sell on a...

Although an S Corp's bottom line is distributed among the shareholders, if you pay no salary, that's a big red flag. "FICA tax is imposed only with respect to employee wages and not on distributive shares of shareholders. Although FICA tax is not owed on distributive shares, the IRS and...

Whew! Thanks, Robert, I thought it was just me :eek:

If you run your trading as a business you will pay self-employment tax on top of your regular taxes, though you can deduct your business expenses. Be sure to factor that in to your planning.

PWRD is scheduled to report earnings pre-market Monday. I wouldn't recommend trading pre-market because "great" and "bad" earnings can result in crazy moves outside regular trading hours. Price can gap up in pre-market and sell off on the open, and vice versa. The meat of an earnings...

I saw that price as support and rather than put an order n there, I'd want to see the crowd reaction at that price. If you got your order lifted right at support and support failed to hold, it could be a hard ride down to the trend line or the rising moving average. I personally would watch...

I have an E*Trade account and when I search their symbol it says across the top when earnings are expected as well as the hi/med/lo estimates. It's not always accurate. This site lists expected earnings dates for most stocks, but some companies aren't listed and CRTP is one of them...

I just got a nice article from Pristine's Trading Lesson of the Week: "Take Your Stops or Stop Trading!" "Most traders who don't stick to their stops know they are doing the wrong thing, but, they also won't allow themselves to exit the position, because they are unable to accept a loss. By...

Thank you, 77! I've been trading very 100-200 shares since my dismal April, but just started moving back into 500-share territory especially when a setup has a lot of confirmation behind it. I've found that 500 share positions keep me far more unforgiving with my risk management and I prefer it...

According to the news, NAT beat earnings estimates: (6:24 AM ET) LONDON (MarketWatch) -- Nordic American Tanker Shippingsaid it swung to a second-quarter loss of $137,000, as net voyage revenue dropped to $29.7 million from $63.2 million. It earned $35.5 million in the year-earlier period. It...

Worst case you're assigned, and end up short some SPY. I mean the bulls have to stop to replenish their party supplies at some point, don't they? On the subject of bulls, if you really want to make a killing place a buy stop order on GMCR just above 72.00. Their short interest is off the...

Interesting stock with a nice uptrend and a lot of upside potential, but I'm curious why you would choose 5.60 as an entry price? They're supposed to report earnings on Monday.

Wow, I recognized that spot in the chart immediately and my take on it was the opposite of yours. This is from my journal today:

Today's P/L

+$122 The ES move off the news in pre-market caught me off guard with its speed and since I didn’t have any stop orders bracketed in advance, I missed the trade. I’m hesitant to place bracketed orders pre-news because when I watched the action yesterday on the news it was whipsaw city...

Mike, please keep comments like these off my journal.

Ha! Imagine me, having accessed my IRA account for the first time EVER in February 2008, wanting to buy a stock, unable to find the "Buy" button in E*trade for at least 10 minutes, never having looked at a chart in my life, then reading this book on trading I got from the library a month later...

I think it's a secret Trader IQ Test. "How long did it take you to realize Al Brook's book was shuffled and pasted together in random order?" Or it could be the Coriolis Effect... :D

No, chasing does not comply with my rules at all. The only reason chasing looked good is because today happened to be a day when if I chased my late entries they would've worked out well. The truth is, MOST of the time they leave me, as Hog said, frustrated by a whipsaw trade. It's far better...

Except for Red_Ink :D