Outline Video on trading the Market

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daytradingradio
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Outline Video on trading the Market

Postby daytradingradio » Sun Jul 14, 2013 12:52 am

I started this post stuck in the airport in Oregon and Finishing it now with a great video which I call a Outline on "How to trade stock in the market". The post and Video are extended but I feel it covers and reviews some important points on how to balance trading and the patience to get the best opportunity in the market.

Here is that Video: http://youtu.be/k3cFzYsS3eI


So i am stranded here in Redmond Oregon The flight has been delayed so far twice and I scheduled to leave in in an hour heading to San Francisco then to NY expected arrival tomorrow morning 8:30 am I should be in the office a little after the open. 9;45-10:00am if the flight goes as scheduled. If not, probably at one point tomorrow. So sitting here I wanted to touch base on some recent observations in the market. I am pretty sure my gentlemen's bet of the market being above 1600 in two week (2 weeks ago) has come to fruition. But taking a step away from the markets was a very positive experience for me. As when your totally immersed in the markets like I am every day you get bombarded everyday from every side. Most traders get caught up on every move be it big or small in the markets. The bears will attack when there is signs of weakness in the market with their repetitive argument that the whole house of cards will come tumble down and the Fed is completely wrong in on how they are dealing with growth and their stimulus program. And then you have the Bulls which might have a more optimistic point of view on the markets or economy but could fall under the same trap as the bears. Believing they are right and the markets are wrong. That has not happened yet and all indications point to a continued upside. I am not here to say the bears are wrong and the bulls are right I am here to say we are wrong as traders when the signals are showing one thing and you refuse to take advantage of it because you have core belief in something else. I know this will fall some deaf ears, there are thousands of traders that will pass through this site over the years. Most won't make it, I am not going to lead you on or tell you this is an easy job. But I can share with you knowledge i have gained over 19 years of trading. When I started out I was starving for knowledge always looking for the perfect strategy or system, Studying charts for hours each night. Following message boards believing things I read on message forums. sometimes it would work but over time it would catch up to me and I would have to take bigger gambles (trades) to mentally get myself back in the game. Most of the time this would put me in a deeper hole. This was what I look back on and call my learning curve. The big change came for me when I was able to see what didn't work most of the time to finding what worked the majority of the time. What was the correlation between why some trades worked the majority of the time and why some trades didn't. I worked hard on statistics of my successful trades and unsuccessful ones. what was the common denominator of them? Over time I found that there was not just one reason why stocks moved up or down but the moves happened to correlate with what I call the arrangement of underlying indicators. Thats was the easy part. The hard part and the reason most traders fail over time is the markets are a big casino open to the public with no age restriction no experience or prior knowledge need to enter. And with the daily temptation of the being able to make money by just pressing a couple of buttons it is easy to see how the lack of discipline and patience will quickly catch a trader and take him down not just monetarily but more importantly mentally. There is always a better way and that way is to slow down and take the trades that fall within the requirements of HPS. Simple as that, Like I say all the time. The correct path is laid out for us, Its in our nature to get distracted or be effected by our emotions. A recent guest to daytradingradio Ray Burchett talked about Intuitive decision making. Taking the emotion out of trading and only reacting to trade. He was spot on in that webinar. It just happens to be exactly what HPS does for me. It controls my emotions and lets be develop the patience and discipline.

Ok I am done talking here. I did a great video outlining a lot of what I always stress on the show and its a fantastic overview to the HPS methodology I higher recommend watching it
[video width=560 height=315]http://www.youtube.com/watch?v=k3cFzYsS3eI&fb_action_ids=10151578744339217&fb_action_types=yt-fb-app%3Aupload_ne&fb_source=other_multiline&action_object_map=%7B%2210151578744339217%22%3A383810211720962%7D&action_type_map=%7B%2210151578744339217%22%3A%22yt-fb-app%3Aupload_ne%22%7D&action_ref_map=%5B%5D[/video][video width=560 height=315]http://youtu.be/k3cFzYsS3eI[/video]

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MightyOne
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Postby MightyOne » Sun Jul 14, 2013 3:03 am

I don't think that I could ever be drunk enough to read your post.

Anyone with that much to say should create a YouTube video =)

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Postby newscalper » Mon Jul 15, 2013 1:02 pm

:lol:

dchappy
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Postby dchappy » Mon Jul 15, 2013 4:46 pm

I started listening to him about a year ago .

Good trader and knows what he is doing .

He covers stocks and the e-mini's .

The radio show is free , and I usually listen for the first hour .

My trading day is usually done by then .

Don't know why he is posting on kreslik .

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