Following chat rooms can be both helpful and devastating. This is especially true for the rookie trader. Rookie traders are more likely to blindly follow others because they believe other traders have more experience. They place complete faith in them when they are unsure of what to do. The time when you follow others blindly…

Master Level II for daily income. We have an in-depth article about Shaving, otherwise known as Scalping. You take tenth’s of a penny hundreds if not thousands of times per day. When you use large positions, like 5,000 shares, 10,000 shares, or 50,000 shares each trade, those half-pennies start to add up. But in order…

A weatherman tries to predict if it is going to be sunny, cloudy, or snowing based on humidity levels, atmospheric pressures, and satellite images. Unfortunately, the weatherman is not always 100% correct. He can only make predictions based on the information he is given and his experience in analyzing this data. Can you imagine making…

This is the point where you admit you were wrong. No one can pick winning stocks 100% of the time. Accept this fact. You can only play the odds. Let’s say we buy a stock at $20 with the plan that it will go up to $24. Now we have to decide what to do…

I love trading as a Shaver. It provides a tranquil sense of routine, even though the action is super-fast paced! Sometimes I like to follow a set schedule, a foundation of stability without any surprises. The funny thing is, the more trades you make per day, the less surprises actually happen. It sounds crazy, but…

Some people like to trade the same stock over and over throughout the trading day. Traders tend to get a good feel for how one particular stock moves. A trader becomes familiar with its reoccurring support and resistance areas from trading the same stock repeatedly for a week, month, or even year. The trader knows…

Many people have a hard time sticking to their stop-loss on stocks priced above the $60 to $70 range. These stocks can suddenly move 25 cents or more in a few seconds, triggering and speeding beyond the stop-loss. Because the stock’s price can jump so quickly, the trader thinks that he will take his stop-loss…

Now that you know it is sometimes wise to stay on the sidelines, you should only trade high risk-reward ratio plays, and you must always use a stop-loss, let’s move on our next topic: spending too much time staring at Level 2 screens, examining charts, and trading. Are you constantly trading after the closing bell…