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Jason Alan Jankovsky is a full-time trader and does a daily live wrap-up of the US dollar at
ProEdgeFX.com. He is also the author of
Trading Rules That Work
. In this show, we talk about how most traders think about the markets in the opposite way that they should. We also talk about how technical analysis alone is not what Jason Alan feels will make a successful trader. More important than technical analysis, according to Jason Alan, is a solid understanding of the bedrock underlying structure of the market and what other traders are thinking and doing. Listen in to understand what he means!
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Monster Stock Trader is the moniker of this trader who uses the CAN-SLIM method to find fundamentally sound companies to trade. He then uses technical analysis to find good entry points and profitable trades in those solid companies. In this interview, we talk about his favorite setups, how he uses "tight" and "loose" screens to find trades in the evenings and how he handles good and bad trades.
The setup looks great. Most of your indicators are signalling it is time to enter. Perhaps one or two don't look perfect, but enough things are the chart do that you know it's time to trade. But you just can't seem to pull the trigger. That's what today's special episode is all about. In this interview, I talk to three separate "trading shrinks" who talk about how to overcome the fear of getting into a trade. Dr. Brett Steenbarger, Dr. Doug Hirschhorn and Dr. Gary Dayton each give their takes on the problem and their views on things you can do to overcome the fear of losing in a trade. In each segment, my interviewees discuss the causes of the problem and what you can do to move past it and make those trades - and make that profit!
Charles Kirk is a well known blogger and trader who uses stock screening software to find great trades. In this detailed interview, I ask Charles what information he uses on both the technical and fundamental side, which patterns he watches for and how he sets price alerts at specific levels. We also discuss why he enters and exits his trades at important technical levels and he uses a specific stock trade to explain his strategies. Finally, we discuss indicators he favors to give him a read on the market and why "reversion to the mean" plays such a critical role in his decision-making. You can find more about Charles at TheKirkReport.com.
The more I talk to truly successful traders, the more I realize that finding a simple strategy and executing your plan with strict rules is the fastest way to trading profits. In this interview, I speak with a full-time, at-home trader who happens to be a former market maker for NYSE stocks. Does his experience as a market maker help him as a trader? No doubt - but you'll be surprised at what he thinks is the most important part of his success. Although he has unique insight into the workings of the stock market, it's his ability to short-term trends in supply and demand that has helped him become the trader he is today. Here he talks about how watches for opportunities in the market, why he mostly trades at very specific times of the day, and how he decides when it's time to exit. It's a terrific look into the thought processes of a wealthy trader.
Sponsored Interview. Ken Calhoun is a full-time trader and entrepreneur of Daytrading University. In this interview we discuss Ken's trading strategies and how he finds opportunities in the market by keeping multiple small positions open at all times. Ken's unique style of trading was developed when he realized he needed a speedy low-risk way to enter and exit positions that had made higher highs. Listen in as we discuss his strategies and methods in detail
In this detail-packed interview, I speak with successful private trader David Buffalo. We discuss how he uses Fibonacci ratios to establish price levels the one extension level he uses to find profitable trades over and over again. We discuss why a "complete price leg" is a critical signal for him and how he uses neural net software to find patterns he can recognize to find explosive moves. David talks about the one indicator he uses and how he has adjusted it slightly to include another indicator to draw a complete picture of the index, ETF or stock he is trading. Finally, we discuss his very specific way of setting his stop losses and how he adjusts them if needed. We finish by discussing how he sets goals for himself and measures his personal success in the markets.
Options trader Mike Cavanaugh worked on the floor of the Chicago Board of Trade as a broker and floor trader from 1997 to 2003. In this interview, I talk with Mike about how he trades put and call spreads, why he favors selling puts and calls instead of buying puts and calls, and which month and strike price he typically chooses to sell. We also discuss how he looks at the underlying security to determine which options to sell and which options trading strategies to employ. Mike then talks about the "Greeks" he monitors and how the price of the spread and volatility affect his trading decisions. You can find out more about Mike at: www.KnowYourOptionsInc.com.
Trader Anne-Marie has been trading full-time at home for over three years now. Although educated as a mathematician with an emphasis in bio/behavioral statistics, she is the first to admit that her background didn't prepare her for the life of a trader. She does, however, use her training to spot patterns in the markets and then find ways to capitalize on those repeating patterns with profitable trades. In this interview, we discuss her favorite pattern and how she spots it using candlestick charts, the timeframes she watches and the various indicators she monitors to give her confirmation that it is time to trade. We also discuss her favorite stocks to trade and why. And finally, we discuss how she does her "homework" after market hours - you won't believe the number of hours she puts in! Her blog can be found at AnneMarieTrades.com.
There is always a small part of being a good trader that can't be quantified, explained with numbers or even taught. It's that point in trading where the technical and fundamental analysis is taken into account and then the "intuition" of a trader comes into play. In many interviews I've done with solid, successful traders, my interviewees come to a point where they realize that they "just know it when they see it." In other words, they take all the charts and news and information they have and place their "gut" on top of it all before making a decision to buy or sell. In this interview, trader Jim Gobetz discusses how he developed his intuition using candlestick charing. We discuss the timeframes he watches, and why he changes his chart timeframe at 11:00 am Eastern to something different. We also talk about how he does "forensic analysis" on all his trades to determine why they were profitable or not profitable. We also both come to a conclusion about an action every trader should take after they take a significant loss. Finally, we discuss the specific way he watches volume and price to find great trading opportunities.
The more I talk to truly successful traders, the more I realize that finding a simple strategy and executing your plan with strict rules is the fastest way to trading profits. In this interview, I speak with a full-time, at-home trader who happens to be a former market maker for NYSE stocks. Does his experience as a market maker help him as a trader? No doubt - but you'll be surprised at what he thinks is the most important part of his success. Although he has unique insight into the workings of the stock market, it's his ability to short-term trends in supply and demand that has helped him become the trader he is today. Here he talks about how watches for opportunities in the market, why he mostly trades at very specific times of the day, and how he decides when it's time to exit. It's a terrific look into the thought processes of a weatlthy trader.
In this detail-packed interview, I speak with successful private trader David Buffalo. We discuss how he uses Fibonacci ratios to establish price levels the one extension level he uses to find profitable trades over and over again. We discuss why a "complete price leg" is a critical signal for him and how he uses neural net software to find patterns he can recognize to find explosive moves. David talks about the one indicator he uses and how he has adjusted it slightly to include another indicator to draw a complete picture of the index, ETF or stock he is trading. Finally, we discuss his very specific way of setting his stop losses and how he adjusts them if needed. We finish by discussing how he sets goals for himself and measures his personal success in the markets.
The strategies that top traders use to make money in the markets aren't complex. Most have found simple ways to spot opportunities and continually exploit those patterns to make money each day. In this episode, we talk with a wealthy trader about how he does exactly that. John Gilner describes to me the exact candlestick patterns he is watching for and how he scales in and out of his positions to get the maximum gain possible. His straightforward approach is one any trader can understand and replicate for their own accounts. John uses both short and longer-term timeframes to find stocks that are ready to break through a specific level on volume. He then talks about how he determines his entry points and stop losses. Finally, we discuss his trading discipline and the two things he thinks made all the difference for him when he was working to gain confidence in his trading abilities. A fantastic look inside the mind of a trader who has achieved a high level of success through hard work and common sense.
The strategies that top traders use to make money in the markets aren't complex. Most have found simple ways to spot opportunities and continually exploit those patterns to make money each day. In this episode, we talk with a wealthy trader about how he does exactly that. John Gilner describes to me the exact candlestick patterns he is watching for and how he scales in and out of his positions to get the maximum gain possible. His straightforward approach is one any trader can understand and replicate for their own accounts. John uses both short and longer-term timeframes to find stocks that are ready to break through a specific level on volume. He then talks about how he determines his entry points and stop losses. Finally, we discuss his trading discipline and the two things he thinks made all the difference for him when he was working to gain confidence in his trading abilities. A fantastic look inside the mind of a trader who has achieved a high level of success through hard work and common sense.
Remaining patient while waiting for the right trade setups to come along is not an easy task when those setups occur only 1-3 times per day. But that's exactly what trader John Paul does and does extremely well. As an S&P Emini trader, John tells us the timeframes he works on to find those trades and the "special" number he's watching for during the trading day. I ask him what his "perfect setup" looks like and how he sets his profit target and stops. Speaking of stops, I was floored when he first mentioned where he sets his! We then discuss the software he uses (and raves about) that has helped him become a successful trader and why he never uses indicators. Finally, we discuss how he developed his strategy by listening to his friends who are floor brokers and he tells us the only things that professional floor brokers watch and have faith in as their guides in trading.
Knowing when to take your profits is always a difficult decision, even for veteran traders. In this interview, we talk with stock trader Andy Lindloff about a very specific way he decides how much of his profits to take out of a trade, while still leaving room for more upside should his position continue to run. We also discuss how he scans the market in the morning and ways he finds individual stocks to trade that day in hot sectors. Andy also describes the charts he uses and the simple moving average that, when combined with a certain behavior in volume, has provided great trades for him time after time. Finally, I ask Andy to describe his ideal trade - one that he would have to take if he saw this setup. He describes what that setup would look like on a chart and how often it occurs.
Most traders believe that in order to make a living as a full-time trader, they have to be trading all day every day in order to make the big bucks. This interview proves that's not the case. Dave Floyd is a successful full-time independent currency trader and money manager who makes just 5-7 trades per month. His strategy is an interesting combination of watching both Elliott Wave and simple price action to determine where his entry and exit points will be. He admits he is an extremely patient trader, waiting until just the right moment to enter a position. We talk about his "ideal trade" and why he trades using three very specific timeframes. We also discuss why he thinks looking at Fibonacci applied to time is just as important as applying it to price. We also discuss the one odd currency pair he trades almost exclusively, and the advantages that particular currency affords him.
Nearly all of the successful traders I have spoken with this year have mentioned they were forced by the market to make changes to their base strategies in order to stay on track for their profit goals. Jeff White is an experienced full-time trader who tells us here the types of changes he made in order to keep up with current market conditions. He tells us his number one focus as a trader, the ways in which he finds where buyers and sellers have placed their orders using simple charts, and why he has a core and secondary watch list. Jeff also names his favorite patterns and describes exactly what they look like in his favorite timeframes. We also talk about where he sets his stop losses and why he is perfectly satisfied getting stopped-out frequently in his trading. Finally, we discuss his monetary goals and how he pays himself during the year.
Daniel Jackson aka @AtticManTrader on Twitter, is a trader in the UK who focuses on UK stocks and occasionally other country equities as well. First thing you'll notice is that traders anywhere in the world all have the same challenges, learning curves and wins when it comes to trading - regardless of what security, exchange or market on which they focus. Daniel talks about the foundation of his swing trading strategies and why he watches longer-term charts for trends and shorter-term charts for execution. We also discusses how he finds stocks that are over-extended or bottoming and the types of candlesticks he looks for that indicate a trading opportunity is nearing. Daniel candidly discusses he weaknesses and strengths and how he has learned to use both to find success in the markets. Finally, we discuss the types of support and resistance indicators he uses and why he had to make a quick change to his strategy late last year. Find out more about Daniel at: http://atticman.blogspot.com
In this detail-packed interview, I speak with successful private trader David Buffalo. We discuss how he uses Fibonacci ratios to establish price levels the one extension level he uses to find profitable trades over and over again. We discuss why a "complete price leg" is a critical signal for him and how he uses neural net software to find patterns he can recognize to find explosive moves. David talks about the one indicator he uses and how he has adjusted it slightly to include another indicator to draw a complete picture of the index, ETF or stock he is trading. Finally, we discuss his very specific way of setting his stop losses and how he adjusts them if needed. We finish by discussing how he sets goals for himself and measures his personal success in the markets.
Many experienced traders watch just price action and volume to get a read on the markets and find trading opportunities. Trader Stewie is especially adept and using price and volume to find profitable trades. In this interview, Trader Stewie talks about the chart timeframes that are his favorites and how he watches them to find the optimal entry and exit points. We then discuss his trading size and why he has adjusted it since January. The inverse ETFs allow traders to capture two or three times the market volatility and Trader Stewie talks about how he trades these securities and the financial / banking stocks. We also talk about the homework he does in the evening and how he prepares for the next day's action.
Full-time trader Joey Massarelli has found several patterns that over time he is able to recognize as profitable opportunities. Here we talk about how he uses moving averages over several key timeframes to trade within channels. He talks about how he looks for breakdowns and breakups within a chart, how he uses Gann theory to find pivot points, and how Fibonnaci levels help him find exit and entry points. He trades very large size in SDS (UltraShort S&P500 ETF) and SSO (Ultra S&P500 ETF long) almost exclusively. Listen to our discussion about timeframes and what he's looking for in terms of probabilities before he will enter a trade.
Trading around market cycle theory is something more day traders are watching and implementing. Once the exclusive realm of long term investors, tracking market cycles on a variety of timeframes, including 10 minute charts, is becoming more commonplace among traders looking for quick moves in a chaotic market. In this interview, full-time trader Nick Santiago talks about how he looks for inside bars and breakout and breakdown patters within multiple timeframes to find trading opportunities each day. He also utilizes "time count" to help determine what an ETF or individual stock will do next. Listen in as we discuss his approach to the markets and why he thinks he was able to call the current downtrend in the market before most other traders.
Trading around market cycle theory is something more day traders are watching and implementing. Once the exclusive rhealm of long term investors, tracking market cycles on a variety of timeframes, including 10 minute charts, is becoming more commonplace among traders looking for quick moves in a chaotic market. In this interview, full-time trader Nick Santiago talks about how he looks for inside bars and breakout and breakdown patters within multiple timeframes to find trading opportunities each day. He also untilizes "time count" to help determine what an ETF or individual stock will do next. Listen in as we discuss his approach to the markets and why he thinks he was able to call the current downtrend in the market before most other traders.
Wayne McDonell specializes in online currency trading and recently authored a book on the subject called The FX Bootcamp Guide to Strategic and Tactical Forex Trading. Here we discuss which currency pairs he watches when trading around big economic announcements such as the Non-Farm Payrolls report. He also discusses futures trading and how he trades the 10-year T-Notes and stock indices using the futures market. We then talk about how a trader can prepare to trade for a living, and how he manages his risk by increasing or decreasing his position size based on the total dollar amount in his trading account. Finally, we talk about why traders should create a three year business plan for their trading and how it helps traders of all experience levels to remain disciplined even in highly volatile markets.
Wayne McDonell specializes in online currency trading and recently authored a book on the subject called The FX Bootcamp Guide to Strategic and Tactical Forex Trading. Here we discuss which currency pairs he watches when trading around big economic announcements such as the Non-Farm Payrolls report. He also discusses futures trading and how he trades the 10-year T-Notes and stock indices using the futures market. We then talk about how a trader can prepare to trade for a living, and how he manages his risk by increasing or decreasing his position size based on the total dollar amount in his trading account. Finally, we talk about why traders should create a three year business plan for their trading and how it helps traders of all experience levels to remain disciplined even in highly volatile markets.
Vincent Bagnato is a full-time trader who uses various moving averages and other technical analysis tools to find trading opportunities in exchange-traded funds (ETFs). In this interview, we talk about how he transitioned from trading by "feel" to relying on reading charts and trends for his trading strategy. We also discuss why he things 15-minute charts are unreliable and why he trades failures in the "cup and handle" chart setup. Finally, we discuss how he sets goals for himself and how becoming a proficient poker player has helped him determine his trade size and read of the markets more consistently. Find out more about Vincent's trades at: FINZ.tv.
Vincent Bagnato is a full-time trader who uses various moving averages and other technical analysis tools to find trading opportunities in exchange-traded funds (ETFs). In this interview, we talk about how he transitioned from trading by "feel" to relying on reading charts and trends for his trading strategy. We also discuss why he things 15-minute charts are unreliable and why he trades failures in the "cup and handle" chart setup. Finally, we discuss how he sets goals for himself and how becoming a proficient poker player has helped him determine his trade size and read of the markets more consistently. Find out more about Vincent's trades at: FINZ.tv.
Trader Mike Toma discusses how he uses a simple spreadsheet to measure the success of his trading setups and promotes or dumps them based on specific numbers. Mike Toma started out trading during the "SOES Bandits" era before and during the .com craze. He then stepped away from trading and returned a few years ago to trade full-time. Here we talk about his 10 trading setups and how he uses them and tracks their success to gauge how well he is doing in the markets. We also talk about how he developed his confidence as a trader and the things he feels are most important aspects of his trading success. Mike and his trading partner post about their trading strategies and setups at: TWCFutures.com.
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