Day Trading Blog

This day trading blog directs traders to more information.

Sep 25, 2016

Chat Room Q & A

Bob Joiner's chat room Q and A and trade history

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Sep 25, 2016

Bob Joiner services

Bob Joiner is a stock analyst. This page contains information regarding services offered.

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Sep 11, 2016

quotes from good books

This page will feature quotes from books that I think are worth reading.

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Sep 09, 2016

"If your outgo exceeds your income..."

Some of you have heard me use this quote. "If your outgo exceeds your income, then your upkeep is gonna be your downfall." My dad used to quote it and I think he got it from preacher in Atlanta, GA. But I think it originally derives from some WWII poster.Anyhow...the point is that you can't keep spending (or losing) more money than your making, because eventually things will fall apart.Applied to trading, it makes me think of the simple mathematical problem for most traders: while they make some winning trades, their average losing trade outweighs those gains and it makes it very difficult for them to make a profit.Doing some other research, I came across a good article by David Rodriguez that gets into this topic in greater detail. For a good read, click today's link.

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Sep 09, 2016

ichimoku

ichimoku swing trading service

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Aug 01, 2016

TOPS

TOPS was a great example of a stock finding support at the 23.6% Fibonacci Retracement line. It offered multiple opportunities as a day trade. See today's link for the chart.

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Aug 01, 2016

Annotated Charts

annotated charts gives examples of support and resistance for stocks and forex trading

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Jul 31, 2016

How to start an automaticc savings account

Setting up an automatic savings account is easy with this new phone app

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Jul 28, 2016

USDJPY

Today's annotated chart takes a look at the USD/JPY. Japan has several reports being issued this evening, so there is risk on the short trade. But I am expecting USD/JPY to meet overhead resistance and push lower. Click on today's link to see the chart.

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Jul 27, 2016

SP-500: Stuck in a Rut

I often talk about trading within the market context. This simply means that we keep one eye on the larger market while we execute trades. Knowing the lines of support and resistance can help us make better trades. Follow today's link to see a 30-minute chart of the SP-500.

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Jul 26, 2016

EXAS - A Gap Up

EXAS was our first trade of the day in the chat room. It's a good example of a gap up and today's annotated chart gives a fuller explanation of the trade. (Just click on the link in this post.)

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Jul 25, 2016

Oil & Gas Sector Stocks

Today's annotated chart shows a Heat Map of the current bearish ETFs. This is one way to identify trends in the market, even if you don't trade ETFs directly. Follow today's link to see the chart.

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Jul 21, 2016

KONE alert

One of the values of being in a chat room: other members see things that you don't see. KONE was mentioned by one of the chat members this morning and it wasn't on my watch list. After looking at the chart, I posted several alerts for it being a "high probability long" day trade. You can see the chart in today's link.

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Jul 20, 2016

OPTT on fire!

Most day trades won't perform like this one. But OPTT was on fire today. I posted it as a "high probability long trade at $8.02". You can go to the link in today's post to see the chart.

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May 14, 2016

New Chat Room video

It's been a fast and busy week. As Wealthpire shut down the Morning Hours Trading chat room this week, members asked that I start up a new chat room so we could continue our work together. I feel honored by the comments from current and former members as they tell me about their positive experience in that chat room over the past seven years.

But now it's time for a change. I've set up the new chat room and members have already started signing up. One of the exciting things is that I'll be able to provide more content than ever before...more day trade set ups, more educational videos, and now we're adding swing trade analysis as well.

I've posted a seven minute video of the types of high probability trade set ups we'll be looking at in the new chat room. Just follow the link in this blog post to get more information.

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Nov 17, 2015

Day Trading Assumptions

Day Trading Assumptions create risk for the day trader.

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Oct 31, 2015

Day Trading Pro

Bonus coaching plan for Day Trading Pro

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Oct 14, 2015

Forex Analysis

For the Forex traders in our midst...I do a daily video analysis of one currency pair each morning. Today's link takes you to the YouTube channel for those videos and you can subscribe to that channel.

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Sep 23, 2015

Where is the market headed?

Just posted a video analysis of the S&P-500, along with today's Heat Maps for stocks and ETFs. You can watch the video on YouTube at the link in tonight's post. There's also a special offer at the end of the video.

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Sep 03, 2015

Tell Me provides a simple way for you to provide ideas or comments

"Tell Me" allows traders to post ideas, questions, and comments.

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Aug 18, 2015

Best stocks for day trading - what are the common characteristics?

This article looks at common characterics of the best stocks for day trading.

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Aug 17, 2015

support and resistance as relates to trading the emini

Support and Resistance is discussed by David S. Adams.

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Aug 09, 2015

Averaging down. Pros and cons.

Averaging down has pros and cons. But there are deeper questions to be answered.

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Aug 05, 2015

Forex Trading Course

Forex Trading Course poses several questions you can ask yourself before making a buying decision.

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Aug 05, 2015

Forex Trading Course

Before you purchase a Forex Trading Course, here are a few questions to consider. See today's link for a short YouTube video.

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Aug 04, 2015

Short Covering Rally

TNET posted a 36% drop at the open this morning, a BIG gap down by any measure. The link in today's post will take you to a YouTube video analysis of this trade. A big gap down can lead to a short covering rally as well as a later opportunity to short the stock as it drops back down. Hope you enjoy this Fibonacci analysis.

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Jul 31, 2015

Back Testing Strategies

Back testing is the process of looking backwards to check a specific strategy’s performance stats. While it is a necessary process, here is something you should watch. We tend to look for reoccurring patterns and our mind’s eye will focus on the patterns that were true. So, if we think we’ve developed a great new strategy and we’re all excited about it, then our back testing will tend to be biased toward the positive results. Our tendency is to overlook the times when the strategy would not have worked so well. We tend to overlook other variables and bypass the instances it didn’t work out. This is called “confirmation bias” and it can occur in back testing as well as during live trading.

The trick is to realize (and accept) that no strategy is 100% accurate every time. I don’t care how many variables or indicators you place on the screen, there is no “perfect” system. Nor is perfection necessary. Instead, you need to focus on probabilities. Ask questions such as “What are the probabilities for a winning trade using this strategy?” When it works, how well does it work? When it doesn’t work, then ask how bad it is.

While no strategy is perfect, it is important to focus on loss containment strategies. For example, if your strategy works 80% of the time (which is great!), then what is your strategy for dealing with the 20% of the trades that don’t work? How will you contain the losses so the average loss is less than the average win? What is your exit strategy on the losing trades? Do you have the discipline to accept and act on those stop losses? If accepting the losing trades is a problem for you, then what sort of system of automated stops can you put in place to control your risk and develop these loss containment strategies?

I know I’ve asked a lot of questions in this post. But these are the hard questions that you need to ask as you develop your own strategies. Finding the winners is the easy part! Dealing with the losers so they don’t rob your profits is the key.

Jul 30, 2015

USD/CHF & USD/JPY

Just posted a new video analysis of two Forex pairs. The US Dollar continues to strengthen against these two currencies after recent pull backs.

You can see the video analysis in today's link and subscribe to my channel to receive new videos.

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Jul 29, 2015

Robert Joiner

Who is Robert Joiner?

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Jul 27, 2015

Currency Charts - Same but Different

Currency Charts are compared to stocks charts and examples shown.

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Jul 24, 2015

Online Currency Trading

The promises and pitfalls of online currency trading are considered.

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Jul 24, 2015

EUR/USD

The EUR has been falling against the USD for quite some time, as this video shows. On a shorter term, we began falling lower again last night after resisting the 4 hour Kumo and price is currently at the 38% Fib line in its latest price loop.

Today's link will take you to free access to that video analysis.

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Jul 22, 2015

Trader training - Free and Otherwise

Trader Training - Free and Otherswise

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Jul 22, 2015

USD/CHF

The swing charts on USD/CHF are a bit more complicated. While we have moved above some key areas of resistance, I'm not convinced that this is a good entry point. A more thorough video analysis is available in today's link.

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Jul 22, 2015

GBP/AUD

Just posted a new video analysis of GBP/AUD. This pair has been in a strong bullish trend since May. There is some possible overhead resistance, so I'm watching key Fibonacci levels and Chiku for the next possible entry.

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Jul 21, 2015

What is Fx Trading?

Fx trading is the exchange of one currency for another currency. Thankfully...

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Jul 21, 2015

EUR/JPY

Just published a video analysis of EUR/JPY in today's link. We've moved above the 23.6% Fibonacci Retracement line this morning, but possibly more chop ahead.

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Jul 20, 2015

GBP/CAD

Just posted a new video analysis of GBP/CAD at the URL link shown in this post.

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Jul 18, 2015

Free Forex Analysis

I've started posting Forex analysis at the URL link in today's post. Even if you're not currently trading the currency market, then you might still enjoy the analysis.

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Jul 09, 2015

Market Direction

Market direction is looked at from Ichimoku perspective after a big down day in the market.

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Jun 28, 2015

EUR levels to watch

Here's another good article from Forex Crunch on key levels to watch for the EUR/USD. The Greece situation is deteriorating rapidly and all markets will likely see huge volatility beginning with today's currency market open. Today's link takes you to the article from Forex Crunch.

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Mar 21, 2015

The "good trade"

If only our losing trades would hold up a sign that read "This trade is not going to work out". Things would be much easier. But that's not how it happens, of course. We do not enter a losing trade on purpose. In the beginning, we think the trade is going to work out. We firmly believe that this trade is going to be profitable for us. So, when it turns into a losing trade, then we have a problem. We are slow to respond to the change in character because it means losing money and it means we were wrong about something. Our denial of the facts leads to hesitation and sometimes even denial. We begin to hope that luck will shine our way and rescue us from the situation. Meanwhile, the losing trade continues to sit there and rob us of our money.

Perhaps you will find it helpful to think of each trade as a guest in your house. You are throwing a party and you've invited several people over to your house. These are not close friends, but you deem them to be people of good character. But during the party you notice suspicious behavior from one of your guests. They are avoiding eye contact with you and they seem to sneak out of your sight. Then you catch them in the act of stealing something out of your house. It's a small item, but still you recognize now that this person is a thief.

What would you do? Would you calmly "let it go"? Or would you take immediate action and throw the thief out of your house?

In the same way, we need to be watchful of trades that appear to be "good trades" and then reveal themselves to be thieves in our house. Recognize their true identify quickly and get rid of them. The failure to cut losses quickly, and to ignore their impact on our bottom line, is the downfall of nearly every trader who doesn't make it.

Recognize the thieves early one. Stay in the game.

Nov 29, 2014

Ichimoku charts adjustments

Ichimoku charts are available on many platforms, but the charts will sometimes need to be adjusted.

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Nov 27, 2014

80/20

If 20% of your trades don't create a profit, then that doesn't mean your strategy has failed.

If you accept the imperfection, then you can manage the probabilities. If you expect perfection, then your disappointment will cause you to hold losing positions too long.

Nov 22, 2014

The Ichimoku chart provides a unique time perspective.

The Ichimoku chart is a cluster of indicators that provide the trader with a unique perspective.

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Nov 18, 2014

"Letting the winners run"

Have you ever been in a trade where you got out with a nice profit...and then you look back and see the stock just kept on going? While you're grateful for the profit, you also realize how much more money you could have made on the trade by being a bit more patient.

These trades have some characteristics in common. You can click on the link in this post to see a video and to hear a few of my ideas that you might find helpful.

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Nov 10, 2014

Member Story

Just wanted to publish this story. Mark is a member of the MHT chat room and also Ichimoku Trend Trader. He was kind enough to let me share his story:

"Bob, I want to thank you for the amazing service you provide with your Ichimoku Trend Trader. A bit of back story, I was laid off from my job about 3 months ago and through a very fortunate set of circumstances, was introduced to one of your other services. When you opened up your Ichimoku Trend Trader program, I knew I had to get on board immediately! Ichimoku has been the most comprehensive trading education I have received, and your trade alerts have consistently yielded double digit returns in mere days! After 3 months, I am still unemployed and loving life! I thank you Bob, and my Family thanks you – I get to watch my kids grow up!"Mark K

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Nov 05, 2014

Bollinger

Bollinger Bands Squeeze Play shows a technical set up for trading this consolidation pattern.

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Oct 26, 2014

What's ahead for the market?

This link takes you to the latest video post on Facebook. I'll be posting more to Facebook, so follow me.

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Oct 23, 2014

membership clubs Bob Joiner

A description of three membership sites.

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