Wait for Bases to Properly Form
For you technical traders out there, in the following video I discuss waiting for a proper base to form and avoiding "later-stage" bases. Enjoy the video and good luck trading! Follow me on Twitter @jfahmy Follow me on StockTwits @jfahmy
Confidence is Everything!
From all the reading I've done, amazing people I've talked to, and my own life observations, I've come to the conclusion that: Confidence is everything! No matter what you do in life, you have to believe in yourself and maintain a strong state of mind...especially if you're a stock trader. Stock trading might be one of the toughest professions out there. I don't mean just making some money in a good market, I'm talking about CONSISTENTLY profiting [...]
Can You Learn About Someone Through Twitter?
About a year ago, Howard Lindzon (the StockTwits CEO) appeared on CNBC. The reporter asked him: "Can you learn about someone through their tweets?" Howard responded: "Of course!" The reporter completely disagreed and said: "If a person has no picture, a random Twitter handle (such as @stocktrader####), and is completely anonymous...how can you discover ANYTHING about that person?" The reporter had clearly never used Twitter. I am going to paraphrase Howard's response because I completely [...]
A Few Comments About Corrections
1) My number one trading rule is: PROTECT YOUR CAPITAL. Always think defense first. If you don't protect your money, you'll have nothing to trade with when a new rally begins. 2) Just as important is PROTECTING CONFIDENCE. Too many traders get killed and chopped to death during corrections. Unfortunately, when the new uptrend begins, they have little confidence and can't "pull the trigger." In other words, they hesitate, take smaller-than-normal positions, or even worse...they pass on [...]
Give Yourself A Chance
Whenever I attend investment conferences or speak to a group of traders, there are always a few people looking for the "Holy Grail." In other words, they are searching for some magical formula or a crystal ball to tell them when to get in and out of the market. I have news for you: IT DOESN'T EXIST! After trading for 16 years, the only "magical formula" I found is: hard work, gain experience, learn from mistakes, and [...]
Married or not…you should read this
A friend emailed me this story recently. I would happily give credit to the source, but I have no idea where it came from. I hope you find some meaning in it as I did when I read it... When I got home that night as my wife served dinner, I held her hand and said, I’ve got something to tell you. She sat down and ate quietly. Again I observed the hurt in her [...]