Greed Is Good? How to Handle It

via SMB Capital – Day Trading Blog:

One of the most iconic images people have of Wall Street is the scene from the first Wall Street film where Gordon Gecko delivers his infamous monologue that begins like this, “Greed, for the lack of a better word, is Good”. Since greed and it’s first cousin fear still drive markets, it does serve a purpose in terms of creating opportunities for those who understand its nature. When it comes to short term speculation on the other hand, it can be very counterproductive to your performance.

How many of you can relate to the following situation? You enter a trade based on your plan. Everything has lined up. It is an intraday Read more [...]

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Greed Is Good? How to Handle It

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Paper Trading: Does it Help or Hurt?

via SMB Capital – Day Trading Blog:

When it comes to paper trading, there seems to be two strongly opinionated sides to its purpose in helping traders learn how to trade.

There are the opponents and this group usually includes brokers (I wonder why). Their argument goes something like this: Paper trading is something you want to do for maybe a week or so in order to get used to your trading platform. After that, you want to start trading for real because in order to learn how to trade, you need to have skin in the game. Otherwise you are wasting your time. Just think every time you make a good paper trade, that could have been real money!

This argument has some plausibility. As far as having skin in the game to feel the market Read more [...]

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Paper Trading: Does it Help or Hurt?

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How do You Use Candlesticks? Trade Confirmation.

via SMB Capital – Day Trading Blog:

Marc Principato, CMT, shares his beginner series where he illustrates how candlestick wicks offer valuable information when it comes to gauging buying / selling pressure at the moment. They are excellent forms of price action confirmation. Subscribe: http://bit.ly/utraderyt

Help me write my book: http://www.unconventionaltrader.com

Training Info: http://www.bit.ly/smbhome

My analysis on TradingView.com: http://bit.ly/tviewprfle

Twitter: http://www.twitter.com/marcpmarkets

Webinar and Trade Review Archive: http://bit.ly/archpge

–

Marc Principato, CMT,

Risk Disclaimer

*No Relevant Positions

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How do You Use Candlesticks? Trade Confirmation.

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