A quick edit of a live video. Thanks Pyro for the edit!
This is technically a lesson from the room, but I’m going to type it out rather than just post a screenshot like I do for most of them.
Even if you haven’t been trading for a while, I’m pretty sure you’ve seen “Heat Maps”. Many people look at them like they look at some geological survey of an ancient civilization…a map of what is/what once was.
I treat them differently. If I’m looking for day-trade ideas, I use them as real living and breathing maps; even GPS if you will…
With roads and guides; pathways to the next step.
Here’s how.[Read more…]
If you were scared by the action today on the indices and in the market in general, then don’t worry you were not alone. But also you shouldn’t be worried for another reason and this is one of the dirty little tricks used by the “big money” of markets.
If you were only watching the price action on the chart of $SPY today then you’d see a very harrowing scene, but if you were watching what I call “under the hood action” (or money flow)…the actual buying or selling that was going on, then you would have noticed something quite different.[Read more…]
This is another Quora question that enticed me enough to write a long enough answer that I considered it to be worth sharing.
So where does one get the ‘best’ and ‘most reliable’ financial news?
‘Til next time.
This is a topic I’ve heard spoken of a great deal recently, so I when I saw the question on Quora and decided I’d answer it, I figured I’d share my answer.
Whaaaat? Growing your BitCoin holdings without adding more money into the game.
Yes. That’s what I’ve been doing for the past few months. It has been growing in-terms of the quantity of BTC that I own, not the value of them.
I remain bullish on BitCoin. Why? Well, you can read my last post here on BTC.
So How Can I Get BitCoins without spending anything?[Read more…]
But, this time I’m going to share an article with you guys and include a bit of commentary.
BitCoin and a Global Currency
I’ll be honest here, I’ve remained bullish on BitCoin and other cryptos because I’ve always thought, and BTC in particular, that they’ve been allowed to thrive and will continue to thrive so that we become so accustomed to them that digital fiat currencies would be accepted by the mainstream
I don’t think we’re quite there yet. Which is why I see BitCoin as spiking in the near future to get more people
I just finished a little phone call with a member of my trading room.
He had two phenomenal mornings these past two days. Locked-in gains, then ended up net negative each day.
We spoke actual numbers. For the sakes of this post, let us just use a hypothetical amount of $5,000 and I’ll ratio-adjust it.
So you’ve got a $5,000 TRADING account, and you go into the market into the morning and have the luck of making $2k.
That means your account grew 40% in A DAY! Most people trying to ‘beat the indices’ are looking for on average over 20% A YEAR.
While it is impossible to have such gains every single day (as your portfolio gets larger you face special issues….and beyond those, nobody is right about every trade they take).
So After Those Kind of Numbers
, He’s Back to Where He Was Last Week
The genesis of this post was a few members of my room, as well as others over the years on StockTwits and Twitter, asking about my thoughts on technical analysis.
“What do you use Dros?” “What’s the perfect indicator?” “What indicators should I be using?”
Well. Here you go. Feedback welcome.
So I got a message on StockTwits from, to be frank, someone I’d never heard of before.
His name is Dave.
No, I’m going to do the Fight Club thing. “His name was Dave. His name was Dave….”. If you miss the reference, it’s from the movie “Fight Club” based on the beautiful novel by Chuck Palahniuk of the same name.
His name is Dave. He started off as a clerk running orders in San Francisco to a man in the pit of the CBOE.[Read more…]