VRTX gapped up over 50% on positive drug news. In this trade review Steven Spencer discusses his basic philosophy on trading very large gaps as well as his executions in VRTX.
[Recording] The Playbook: Earnings Season
If you missed this Webinar by Mike Bellafiore, author of the “trading classic” One Good Trade, on “What You Should Focus on During Earnings Season”, this is your opportunity to watch it. This recording is no longer available.
Forex Trading: When Should You Go Against The Trend?
What makes prices in a financial market system fluctuate the way they do is traders entering and exiting the market for an infinite number of reasons. Some may be getting stopped out while others may be adding to a position. We can never know for sure the reasons why they may be acting a particular way at a specific period … Read More
Rich Trader, Poor Trader
Trading is inextricably linked with money. You are taking risk in the markets because you want to make money. If you trade well over a long period of time, then you will make lots of money. We all know what the results of trading success can look like, and that motivates us—the cushy bank balance, nice house(s), etc. Most traders … Read More
Sometimes Being Contrarian Means Betting on the Trend
A dip against the long-term trend offers a high probability setup for the contrarian trader to adjust options positions that haven’t been working and to put on positions that will take advantage of a possible trend resumption. In this most recent example, we can see that the price traded down to the lower band of the LRC Channel. Regardless of … Read More
How Long is Too Long to Not Be Making Money?
Dear Bella, Thank you for all the great ideas that you share on your blog. It is a great tool for trader improvement all around the world. I see you helping so many beginners, so I’m sending you this e-mail with the hope that you can help me as well. I’ve been trading for the last 10 years of which … Read More
Ten Ideas for Creating a Good Trading Journal
Mike, You’ve mentioned having a journal, and a detailed journal on a number of occasions. It always makes me feel guilty because I haven’t been keeping one and I don’t know what I’m missing. In the Wall Street Warrior video, I think I saw your recruits carrying paper notebooks. So I’ve been wondering: what do you write in the journal? … Read More
Forex Trading: Know Your Time Frame
One of the more common mistakes I see new traders make is executing a trade idea that came from a larger time frame analysis, but justifying the entry from a set up appearing on a smaller time frame and expecting it to reach the greater target. It can be very confusing because the smaller time frame charts can offer refined … Read More