Dominate Your Market
by Jim Wyckoff
A day trader is a cross between an extrovert and an introvert, with both characteristics in balance, according to Mark Cook, a veteran trader from East Sparta, Ohio.
“The introvert aspect is depicted by the disciplined workaholic with a reclusive concentration. The extrovert aspect is depicted by an aggressive, competitive, self-motivated individual striving to be the best in a selective profession,” said Cook.
by Jim Wyckoff
The formula for trading success, according to Robert Deel, is: Self-Discipline + Knowledge + Experience + Skill = Success. Success = Profits.
Risk management and money management are key to achieving any success in a market, said Robert Deel, a registered investment adviser and portfolio manager for Strategic Management Decisions, based in Duarte, Calif. He was speaking at the Dow Jones Telerate Technical Analysis Group (TAG XVIII) meeting in New Orleans, held late last week.
by Jim Wyckoff
“My work has gotten better due to simplifying my approach,” John J. Murphy, the veteran technical analyst, author and CNBC resident technical analyst, told a group of equities and futures traders attending the Technical Analysis Group (TAG) XVIII trading conference sponsored by Dow Jones Telerate in New Orleans.
Murphy said he relies heavily on five or six “useful” technical indicators, including relative strength indicators, trendlines, moving averages, Bollinger bands, classic chart patterns such as triangles and double tops, and Fibonacci retracement levels.
[Read more…] about Simplicity Has Sharpened John Murphy’s Skills
There is a risk of financial loss in futures and options trading. Futures trading is neither easy nor an easy way to make money. It takes hard work to have success. Please use sound money management when trading futures. Past performance is not necessarily indicative of future results. Nothing on this website is intended to be a trading recommendation to buy or sell futures or options. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed. Readers are solely responsible for how they use the information on this website.