Posts Tagged ‘ trader training ’

What statement are you making with your trading?

Apr 21st, 2014 | By | Category: General Comments, Guest Blog, John Locke, Options Education, Trader Development, Trading Ideas, Trading Lesson, Trading Psychology, Trading Theory
I talk to traders all over the world and it surprises me how many “high probability” or “market neutral” traders don’t realize that they are making a statement with their position. By making a statement I mean whenever you enter a position, you are defining the conditions under which you will win and which you will lose. For example, when a trader buys a stock he’s saying that if the market moves up he is going to make money and if the market goes down he is going to lose money. He’s essentially betting on the market going up and he understands that if the market comes down then he’s going to lose money. That’s Read more [...]


Greed Is Good? How to Handle It

Feb 12th, 2014 | By | Category: Marc Principato, SMB Forex
One of the most iconic images people have of Wall Street is the scene from the first Wall Street film where Gordon Gecko delivers his infamous monologue that begins like this, “Greed, for the lack of a better word, is good”. Since greed and its first cousin fear still drive markets, it does serve a purpose in terms of creating opportunities for those who understand its nature. When it comes to short-term speculation on the other hand, it can be very counterproductive to your performance. How many of you can relate to the following situation? You enter a trade based on your plan. Everything has lined up. It is an intraday Read more [...]


Trade Review: Using Volume on S&P 500 Scalp

Feb 7th, 2014 | By | Category: Marc Principato, SMB Forex
Marc Principato, CMT explains how traders at SMB use our proprietary volume analysis tool to initiate scalp trades. This example shows an actual trade taken in the S&P futures, but can be applied to forex also. Subscribe: http://bit.ly/utraderyt 
Help me write my book: http://www.unconventionaltrader.com Training Info: http://www.bit.ly/smbhome My analysis on TradingView.com: http://bit.ly/tviewprfle Twitter: http://www.twitter.com/marcpmarkets Webinar and Trade Review Archive: http://bit.ly/archpge -- Marc Principato, CMT Risk Disclaimer *No Relevant Positions Read more [...]


Addressing the Trader’s Fear of Missing Out

Feb 5th, 2014 | By | Category: Marc Principato, SMB Forex
One of the more entertaining things I hear out of forex traders that I talk to is, “I can’t believe I missed that 40-pip move! I left so much money on the table!”. My question is whose table did you leave that money on? What's even funnier is when traders claim they're losing money because they're missing nice moves. This is the expression of a flawed mentality that usually leads these traders to getting too aggressive at the wrong times. As I have mentioned in other articles, trading is a very psychological game. You must be on top of the crowd mentality while managing your own emotions within constantly changing market Read more [...]


Trading: Less Fighting, More Fishing

Jan 29th, 2014 | By | Category: General Comments, Marc Principato, SMB Forex
Much of the time when you read about trading, many use metaphors that refer to competition or war. You will often hear phrases like, “the forex arena”, “bulls battling the bears”, “you compete with the best and brightest minds in the world”. This is convenient and filled to the brim with conflict (we love drama just watch the news). What the general perception of market speculation tends to ignore is the passive and perhaps less entertaining side of the trading equation: the waiting game. As newer traders enter the market and begin to “inform” themselves as to the inner workings of their particular instrument, Read more [...]


Trade Review: EURUSD with Price Action Confirmation

Jan 24th, 2014 | By | Category: Marc Principato, SMB Forex
In this segment, Marc Principato, CMT, reviews a real EUR/USD day trade that is based on two price patterns and candlestick analysis. He uses price action as confirmation to enter the trade. Subscribe: http://bit.ly/utraderyt Help me write my book: http://www.unconventionaltrader.com Training Info: http://www.bit.ly/smbhome My analysis on TradingView.com: http://bit.ly/tviewprfle Twitter: http://www.twitter.com/marcpmarkets Webinar and Trade Review Archive: http://bit.ly/archpge -- Marc Principato, CMT, Risk Disclaimer *No Relevant Positions Read more [...]


What is Your Trading Process?

Jan 22nd, 2014 | By | Category: Marc Principato, SMB Forex
Recently I sat through an excellent presentation about trading psychology. One thing that I learned about the best of the best traders is that their most common trait is something called “process”. Process is just another name for routine. It took me a very long time to realize how important this one concept is for the developing trader. The main lesson to take away from this is that these routines are what drive your trading plan. It all makes so much sense when explained to me in this context. This concept is all around us. For example, I know of grade school teachers who use routines not only to lead children through their Read more [...]


Price Action Techniques For Consistency Part 2 Webinar

Jan 20th, 2014 | By | Category: Marc Principato, SMB Forex
My 4 week online class begins on 1/21.  Register before space runs out. This webinar provides an idea of the topics I will be covering.  In particular: How I project support and resistance levels How I use candlesticks to validate trades And how to question the market for context Any questions, make sure to email me.  Once the class begins, registration will close. -- Marc Principato, CMT, Risk Disclaimer *No Relevant Positions Read more [...]