facebook  youtube  blogger

Practical Teaching Derived from over 60 Years of Trading Experience and over 30 Years of Mentoring .  Click here to learn about private mentoring with Master Trader Joe Ross.

May
12

Dump Past Losses

What are your worst losing trades? Do they haunt you? It may be difficult at times, but you have to forget about the past and think only of tomorrow. Make sure you keep a trading log. It's important to learn from your mistakes, and to the extent that you can do that objectively and unemotionally, you don't need to worry much about past losing trades influencing your current trading decisions in ne...
Continue reading
  66 Hits
0 Comments
66 Hits
  0 Comments
May
06

Losing

I think you would agree that most traders are risk averse. We don't like losses, and we'll do almost anything to avoid taking them. Losses are painful, and there's a strong need to seek out pleasure and avoid pain. It is easier to avoid admitting a loss, and traders tend to come up with many ways of denying they have a loss, such as holding on to a losing trade and hoping it will turn around, or k...
Continue reading
  181 Hits
0 Comments
181 Hits
  0 Comments
Apr
27

Trading System

You've done your homework. Countless hours of seeking out the right guru (or piecing together your own system). Weeks of monitoring your guru's daily trade picks (or paper-trading and back-testing your homemade system). You've done it by the book. No seat of the pants trading for you! OK, now you're confident. It's time to put your money where your homework is. You've had your coffee and your firs...
Continue reading
  201 Hits
0 Comments
201 Hits
  0 Comments
Apr
22

Evaluating Your Trading

Taking an honest evaluation of your own strengths and weaknesses is crucial to becoming a consistently profitable trader. If you can't identify those habits which continually make (or cost) you money, then you're just shooting in the dark. It's extremely important that you know things about yourself such as: * The time of day you are most profitable. * The position size that works best for you. * ...
Continue reading
  160 Hits
0 Comments
160 Hits
  0 Comments
Apr
15

Find Positive Values from the most Negative Circumstances

Three psychological traits prevent traders from becoming consistently successful: fear, anger, and guilt. Fear blocks the trade decision-making process due to worry about negative events that may or may not occur in the future. Guilt blocks the trade decision making process with unresolved concern about something that happened in the past. Anger is an emotional response to guilt, fear, the indecis...
Continue reading
  228 Hits
0 Comments
228 Hits
  0 Comments
Apr
09

Tick Speed and Direction

How a market does what it does, is just as important as what it does! When day trading, watch closely the way prices tick. If ticks are jumping, someone may be taking the market up or down. If the market ticks fast, it may be a clue to an upcoming fairly good-size move. Watch volume in conjunction with tick speed and direction. Fast ticking is often accompanied by an increase in volume. If prices ...
Continue reading
  258 Hits
0 Comments
258 Hits
  0 Comments
Apr
01

Limit-up! (This article is for futures traders)

Joe! Is it true that selling a market when it is limit up is usually a great strategy? This "brilliant" strategy stems from the idea that selling a market at limit-up, may result in the trader gaining two limit moves in his favor while theoretically not losing any money the day of entry. I think is that this is an absurd idea. I don't advise this high-risk approach as a trading tactic. Keep in min...
Continue reading
  263 Hits
0 Comments
263 Hits
  0 Comments
Mar
25

How Long?

Hi! Can you give me some principles to determine how long I should set an expiry for in a pending order? Should it be a multiple of the time frame (e.g., 12 X 15 minutes)? If so, what multiple would you recommend? Some other method? You sent an interesting question, but no detail as to what you are trading. In any event, I know of no formula regarding how long to wait for an order to be filled. In...
Continue reading
  284 Hits
0 Comments
284 Hits
  0 Comments
Mar
18

Compendium?

Hey Joe! Has anyone that you know put together a compendium of what to look for when you first start out trading? Not that I know of. But consider the following: As a trader, you are in a contest. Your strongest opponent has plenty of capital. He follows a program and he does it without emotion. He is totally aware of the fact that no one knows where the next tick will fall. Whereas he usually has...
Continue reading
  317 Hits
1 Comment
Recent comment in this post
Dave Albert Hoxie
I am having trouble getting a real start. Have not made any real or practice trades. I have missed Phillipe's IIG postings, wond... Read More
Saturday, 20 March 2021 06:31
317 Hits
  1 Comment
Mar
10

Look for a Retracement

Once prices have broken out, look for a retracement. Successful retracement trading can lead to very nice short-term profits. When prices finally do overcome resistance or support, penetrate a psychological barrier. or break out of a formation or trading range, it tends to do so boldly at first. But after their initial thrust, prices often seem to need reassurance. It's as if prices need to reconf...
Continue reading
  446 Hits
0 Comments
446 Hits
  0 Comments
Mar
04

Avoiding negative open equity

There is an old saying that when day trading positions have had negative open equity most of the day, and an opportunity arises to exit the market at break-even with less than 30 minutes of trading rises, go ahead and exit the market. Unless the market is moving rapidly in your direction with expanding-in-length bars, and no more than 5 minutes left, exit immediately and consider the opportunity t...
Continue reading
  424 Hits
0 Comments
424 Hits
  0 Comments
Feb
26

Finding Great Investments

I don't write much about investment. I'm a trader. But I did come across something I am happy to share. I'm a long-time subscriber to the Stansberry Alliance, and this comes from an email article. The 10 Ways to Find Your Next Great Investment Opportunity Finding great investment ideas is hard work. They don't just drop from the sky and say, "Here I am!" You have to uncover them. Today, I'd like t...
Continue reading
  419 Hits
0 Comments
419 Hits
  0 Comments
Feb
17

Technical Analysis….

Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume. Unlike fundamental analysts, who attempt to evaluate a security's intrinsic value, technical analysts focus on patterns of price movements, trading signals and various other analytical chart...
Continue reading
  392 Hits
0 Comments
392 Hits
  0 Comments
Feb
12

Swing Trading

When I began trading, no one had ever heard of such a thing as "swing trading." Swing trading, as I recall, began when more and more people had the ability to day trade from a PC. In this issue of Chart Scan, I'm going to provide you with some swing trading help that you need when just starting out. If you follow these rules you will avoid a great majority of mistakes made by beginners. Swing Trad...
Continue reading
  490 Hits
1 Comment
Recent comment in this post
Guest — Zefo
Good advices. This is useful. Mainly, rely on own analysis has potential build confidence over time and force man to use his own b... Read More
Saturday, 13 February 2021 08:25
490 Hits
  1 Comment
Feb
05

Develop a ‘feel’ for what is happening

Hey Joe! How can I get a feel for what's happening in the market? One of the things that has helped me was beginning to use tick charts for my day trading. In a past issue of Chart Scan, I explained that there are two kinds of volume: Contract Volume and Tick Volume. Almost everyone is familiar with contract volume. It's usually shown as a histogram at the bottom of a price chart. For a given time...
Continue reading
  391 Hits
2 Comments
Recent Comments
Guest — Corrado Bortolotti
Good morning and happy week end! the February 5th issue of Chart Scan was a very interesting one... where can I get more info abou... Read More
Saturday, 06 February 2021 04:33
Guest — Joe Ross
Corrado, I wish I could give you a more definitive answer, but all I have ever done is to look at the tick volume on my chart whil... Read More
Saturday, 06 February 2021 10:28
391 Hits
  2 Comments
Jan
28

Dirty Tricks

Hey Joe! You've said that prices are not always moved by supply and demand; That they are heavily manipulated in some cases. We know that they intentionally run the stops, but what else do they do? Besides intentional stop running, those who have the power to move prices often resort to other dirty tricks. This may be more-true of stocks and Forex than of futures, but I believe all of the tricks b...
Continue reading
  578 Hits
0 Comments
578 Hits
  0 Comments
Jan
20

Gold / Silver Ratio

Hey Joe! Have you ever traded the Gold/Silver Ratio? How do you go about doing it? I think I traded the ratio a couple of times. It's not something I pay a lot of attention to. Here's some background about this ratio: According to a Mocatta Metals Corporation article, as of April 1980, when the price ratio of one ounce of gold to one ounce of sliver approaches 40:1 gold should be sold and silver b...
Continue reading
  420 Hits
0 Comments
420 Hits
  0 Comments
Jan
14

Pyramid

During the years I've been in the markets, I have been trained by two super-disciplinarians. One was my great uncle, Julius, and the other was John Wooden. Both emphasized extreme discipline and both told me to be all I can be, which for me was not a great outlook. Having been dyslexic all my life, I grew up with an inferiority complex. My dyslexia was very much present in the area of numbers and ...
Continue reading
  512 Hits
0 Comments
512 Hits
  0 Comments
Jan
07

Stock Options vs Futures Options

Hi Joe, I've attended some time ago the IIG webinar and it opens my eyes to the advantages of selling options. But I've found a lot of webpages on the internet where are listed the many benefits of selling Commodity options instead of Stock options (higher return, lower margin requirements, more liquidity, more premium far OTM..) In the IIG webpage on your website is written: "In 2007, we began to...
Continue reading
  437 Hits
0 Comments
437 Hits
  0 Comments
Dec
30

Inverted Yield Curve

Lately, we've been hearing a lot about an Inverted Yield Curve. What is it, and what does it mean? Yield curve inversion signals late phases of bull market rally. The market's "melt-up" phase is coming. Some of the best gains lie ahead. Canaccord Genuity's Tony Dwyer is known for being incredibly prescient regarding his market calls. As a result, many Wall Street asset managers listen to whatever ...
Continue reading
  539 Hits
0 Comments
539 Hits
  0 Comments

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.