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I received an email today from a trader who has been struggling to stick to his stop exit plan once he is in the trade even though it is well planned ahead of entry to the trade. His struggle is causing him significant anguish. This was my response:
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Yesterday, I spent some time with my pal Vic Scherer discussing his path to becoming a successful trader and also the market statistics and persistence lists he compiles on his Daytrend Blog.
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On last night’s program, I discussed the psychological components of the recent sell off, highlighting those that are most telling including: 1. Blow off technical patterns among market leaders such as $LVS. 2. Rally in speculative names. 3. Extreme bullish shorter term sentiment readings. 4. Poor guidance from a tech bellweather – $CSCO. Alone,…
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Last night on StockTwits.TV’s Market Shrinkology Program, I went into much more depth regarding the Mean Reversion Heuristic that I blogged about yesterday. If you found that post interesting, I think you will enjoy the program as I go much deeper into the evolutionary basis of this tendency as well as answer questions from…
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On last week’s Market Shrinkology program, @SnoopyJC asked a question about how to keep one’s trading plan well organized. If you go to minute 20 of the video linked above, you can watch my discussion of this. I received a lot of feedback on this and many asked if I might elaborate and provide…