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Trading Secret 1
The market is open 24 hours a day. Learn to take advantage of it.
It is a firm belief at DTI that in order to be successful you have to have a global perspective on the 24 -hour market. Those who focus solely on the US market are only seeing a part of the puzzle as the world markets unfold. We believe that what happens in Asia will impact Europe and the US. Some recent examples of this include the Japanese Tsunami, Interest Rate Announcements in China and debt woes in Greece. It is important that a trader understands how to take action in the overnight futures markets to help them protect their portfolio, take advantage of trading opportunities and also prepare them for the next day's trading in the US.
Trading Secret 2
When a stock crosses the $100 price, there is a good chance it will go to $110. This also works with the $200 line with an objective of $220.
This is an old rule of mine that was learned from shorting stocks as they approached $100 thinking the $100 mark would prove as major resistance. After watching those trades go against me, I noticed that many times the break of $100 provided a sharp move higher. A great example from 2011 year is CAT. Remember when you see stocks approaching the $100 area to not simply look at it as resistance but ask yourself, why is this stock continuing to trade higher, and is there an opportunity for a sharp move once $100 is broken?
Trading Secret 3
Like your stock choices, but do not marry them. When they stop paying, it is time to split.
Many traders make the mistake of selling their good trades and riding out the bad ones. A dangerous thought in the market is, "well I can't sell it down here," when many times that is exactly what a trader should do. Remember that as traders, we are all equal opportunity investors, and we want to have our money working for us in the best and brightest so as not to tie it up in non-performers. The best insight I have found to avoiding this trap is to always focus on the numbers (price) of the stock as opposed to the dollar amount you are up or down. The market does not care where the entry price is or where your target is, TRADE THE NUMBERS!
Trading Secret 4
Stocks that have been the most bullish typically fall the fastest in a down trending market.
This is a very important insight to remember when things have been going well because too many traders have seen large profits evaporate before their eyes, and a good way to guard against this it to continually update stop prices or use options to hedge. Fast moving momentum stocks drive the market higher, but when the market turns think about it in the sense that they have the furthest to drop. It is an old analogy that the market can take the stairs up but the elevator down. Always use stops and take profits along the way to reduce risks.
Trading Secret 5
Take losses more quickly than profits
As mentioned in insight #3, many traders fall in love with losing stocks in the sense that they do not want to "take a loss". Think about it this way, the profit and loss color can be one of your best indicators. If it is green, that affirms that you are on the right side and if it is red it tells you to be cautious and think about what you are doing. Too many people see a quick pop and take profits but see a large drop and either double down or just stay to wait it out. There are too many stocks out there in the stock graveyard that people are waiting out when they could have their money working for them on strong companies that are making money and moving higher. Set a realistic stop loss, keep track of your trades and if the market tells you that you are on the wrong side, LISTEN!
Trading Secret 6
Do not worry about the direction of the market; instead, just go with the direction
Too many investors have focused on a buy and hold mentality and the mindset that the market has to go up to make money. Do you know that if you had bought forever stamps 5 years ago, that you would have outperformed the S&P 500? Now I am not saying to put your savings in US Postal Service Stamps, but I do want to point out that if you only looked that the market as trended up, you missed several years of potential down moves. With inverse ETF's and options there are more ways than ever to play a long or short market, so get educated and take advantage of it!
Trading Secret 7
Remember to be open-minded and continue to learn
One thing I know with 100% certainty is that I do not know everything and will not ever know everything there is to know about trading. The markets are dynamic and always changing, and in a way you have to be nimble enough to change with the market. That being said, the things I have found to hold up in any market are the following: discipline, proper risk management, and reading the tape of the 24 hour market. There is no better indicator than price, and if you can understand how to read the tape and discipline yourself and manage your risk, you will be a few steps ahead of the trading world.
Thought will be helpful... Found it from the following site...
http://72.52.138.239/?lsid=631
The market is open 24 hours a day. Learn to take advantage of it.
It is a firm belief at DTI that in order to be successful you have to have a global perspective on the 24 -hour market. Those who focus solely on the US market are only seeing a part of the puzzle as the world markets unfold. We believe that what happens in Asia will impact Europe and the US. Some recent examples of this include the Japanese Tsunami, Interest Rate Announcements in China and debt woes in Greece. It is important that a trader understands how to take action in the overnight futures markets to help them protect their portfolio, take advantage of trading opportunities and also prepare them for the next day's trading in the US.
Trading Secret 2
When a stock crosses the $100 price, there is a good chance it will go to $110. This also works with the $200 line with an objective of $220.
This is an old rule of mine that was learned from shorting stocks as they approached $100 thinking the $100 mark would prove as major resistance. After watching those trades go against me, I noticed that many times the break of $100 provided a sharp move higher. A great example from 2011 year is CAT. Remember when you see stocks approaching the $100 area to not simply look at it as resistance but ask yourself, why is this stock continuing to trade higher, and is there an opportunity for a sharp move once $100 is broken?
Trading Secret 3
Like your stock choices, but do not marry them. When they stop paying, it is time to split.
Many traders make the mistake of selling their good trades and riding out the bad ones. A dangerous thought in the market is, "well I can't sell it down here," when many times that is exactly what a trader should do. Remember that as traders, we are all equal opportunity investors, and we want to have our money working for us in the best and brightest so as not to tie it up in non-performers. The best insight I have found to avoiding this trap is to always focus on the numbers (price) of the stock as opposed to the dollar amount you are up or down. The market does not care where the entry price is or where your target is, TRADE THE NUMBERS!
Trading Secret 4
Stocks that have been the most bullish typically fall the fastest in a down trending market.
This is a very important insight to remember when things have been going well because too many traders have seen large profits evaporate before their eyes, and a good way to guard against this it to continually update stop prices or use options to hedge. Fast moving momentum stocks drive the market higher, but when the market turns think about it in the sense that they have the furthest to drop. It is an old analogy that the market can take the stairs up but the elevator down. Always use stops and take profits along the way to reduce risks.
Trading Secret 5
Take losses more quickly than profits
As mentioned in insight #3, many traders fall in love with losing stocks in the sense that they do not want to "take a loss". Think about it this way, the profit and loss color can be one of your best indicators. If it is green, that affirms that you are on the right side and if it is red it tells you to be cautious and think about what you are doing. Too many people see a quick pop and take profits but see a large drop and either double down or just stay to wait it out. There are too many stocks out there in the stock graveyard that people are waiting out when they could have their money working for them on strong companies that are making money and moving higher. Set a realistic stop loss, keep track of your trades and if the market tells you that you are on the wrong side, LISTEN!
Trading Secret 6
Do not worry about the direction of the market; instead, just go with the direction
Too many investors have focused on a buy and hold mentality and the mindset that the market has to go up to make money. Do you know that if you had bought forever stamps 5 years ago, that you would have outperformed the S&P 500? Now I am not saying to put your savings in US Postal Service Stamps, but I do want to point out that if you only looked that the market as trended up, you missed several years of potential down moves. With inverse ETF's and options there are more ways than ever to play a long or short market, so get educated and take advantage of it!
Trading Secret 7
Remember to be open-minded and continue to learn
One thing I know with 100% certainty is that I do not know everything and will not ever know everything there is to know about trading. The markets are dynamic and always changing, and in a way you have to be nimble enough to change with the market. That being said, the things I have found to hold up in any market are the following: discipline, proper risk management, and reading the tape of the 24 hour market. There is no better indicator than price, and if you can understand how to read the tape and discipline yourself and manage your risk, you will be a few steps ahead of the trading world.
Thought will be helpful... Found it from the following site...
http://72.52.138.239/?lsid=631
