Bad Habits Die Hard!

Ym 17 Sep 14
Do any of you know any traders that have eliminated 100% of their bad trading habits; maybe 100% is unrealistic, how about 80%? If so, please direct he or she to me so I can learn their secret!

The below chart is a day old but I felt it was worth sharing; the price action that is circled in red is where I got long, some where around the 17075 range. As soon as I entered I was up over 20 points, I knew I f***up as soon as I entered this position


StockCharts Vs Finviz

Not really a competition between charts, it comes down to how a chart is used. I have been guilty of indicator overload numerous times before. But I am a fan of using some sort of a moving average in combination with an indicator that can depict momentum. Below stockchart is using  Percentage Price Oscillator (PPO) MA 50, 200 and EMA 60, the same Finviz chart below is without indicators but is showing the same information; it may be of use to some to have a reminder of where significant price points are located on their charts, these areas of significance may be the difference between entering a winning or losing position or deciding to sit it out until price moves and trends in a specific direction.

I'm a firm believer that more money can be made if it is saved first by not trading in areas that have lease probable success for your method. Easier said than done... yes. By nature we look at our charts to find a trade to make money, most retail traders are unable to make money in multiple types of markets for a consistent amount of time. 

Find your nich, the best trades possible to take and only the best trades. 



Euro Area Factory Activity Slows More than Expected

Final Eurozone Markit Manufacturing PMI came in at 50.7 in August, down from 51.8 in July and a flash 50.8. Manufacturing activity in Germany expanded at its slowest rate in 11 months while output contracted in Italy and France.  www.tradingeconomics.com