A site created by a full time trader dedicated to helping you become consistently profitable through courses, coaching, discussion forums, live trading videos, blogs and more. At TradingApples, the sky is the limit!
TradingApples.com : Trading Courses, Coaches, and Mentors
Follow me on twitter to get real time updates of my positions and thoughts about them throughout the trading day. You can follow HERE, or by clicking on the twitter pic in the top menu. Follow along and share your thoughts as well.
Sam Seiden looks at the Commodity Channel Index (CCI). Proper use of the CCI (or any indicator or oscillator) in conjunction with Trend analysis and demand and supply analysis can help stack the odds in your favor when forming a trading decision and trading plan.
Economist Dan Ariely, the author of Predictably Irrational, lays out some information about how the price affects our decisions. This is a short video focused mainly on consumer products but I think there is a point to be made about support and resistance. The first thing I thought of was buying into weakness. It seems to be something traders struggle with.
First learn about HOW markets work, then about WHAT works in markets.
I'll begin this entry with a quote. "All the world is a nail to him who owns only a hammer."
Yesterday I went into Wal-Mart to get lightbulbs. Nothing difficult, just a routine activity that I've been doing for as long as I can remember. If I need something I walk into a store, go to the section that shelves the item, pick it up, go pay for it and leave the store. I now have my product and can benefit from it. I have taken part in activities such as this one so much, in fact, that I have become accustomed to getting all of my material needs and most of my material wants met in the time it takes me to drive to a store, pick up an item, and pay for it. But until I began trading I never thought about how this lifestyle (consumerism) effected my mindset and general philosophy of life. Because nearly everything i've needed or wanted was at my fingertips I , and many other Americans, have developed behavior that inevitably leads to the embodiment of a certain attitude that dictates how we psychologically approach needs and wants from day to day, and this attitude left me completely unprepared for what it would take to learn to trade profitably. This attitude said that I can get whatever I currently want if I have the money to afford it.
Now, some things we know cannot be approached in this way. This way of simply buying things when we want them, like love, friendship, you know, things on a more personal level. In fact there have been numerous popular songs in the past 50 years or so that have been about the fact that "Money can't buy me love." As far as these things go we are pretty well versed and unless someone is socially handicapped, we will normally not see anyone believing that they can "buy love" or anything of the sort. But then we cross over into the area of education, learning, and experience, which seems to be sort of a hybrid between a simple object you can purchase with the extent of its value enveloped into it's physical apparatus, and something like love that you must put a great deal of effort into in order to reveal its full benefit.
Out of the two mindsets I've just outlined there are far more people approaching trading with the consumerism mindset than there are approaching it with the interrelational mindset, and why? Because the trading education industry has sent that message out to the trading education market. "Make money with this strategy, GUARANTEED!", " Learn the tricks of a market professional to boost your profits by 1000%!" "Learn how to make $2,000,000 with this one simply brilliant strategy!". Let's face it, the online trading landscape basically consists of an arabian desert full of small huts with snake oil salesmen inside. It's full of men who understand that other men become weak and vulnerable if you can just get them to feel the effects of greed. They will hand you their money in hopes of making much, much more. From a marketing perspective its the oldest trick in the book, yet somehow still survives with an ever increasing facade of sincerity and honesty. So because the trading education industry has made these claims naturally we are going to see a good deal of the type of people to believe things like this become the majority of the demographic that constitutes the online trading community.
The trading industry has commoditized trading education, and this initially draws out of the woodwork those who are looking to buy something and become good at trading because of it. You can't sell someone the investment of their own time and mental energy, so you must sell them something that replaces those things.
Why is it very important to NOT think like this if you want to become a successful trader?...More
Here is the movie Wall Street with Michael Douglas and Charlie Sheen in it's entirety. One of my favorite movies and there's a lot to learn if you pay attention. Shoot.
Hey Everyone,
Economist Dan Ariely, the author of Predictably Irrational, lays out some information about how the price affects our decisions. This is a short video focused mainly on consumer products but I think there is a point to be made about support and resistance. The first thing I thought of was buying into weakness. It seems to be something traders struggle with.
Shoot.