This day trading blog directs traders to more information.
annotated charts gives examples of support and resistance for stocks and forex trading
The big news today was the acquisition of Whole Foods Market by Amazon. But it you only focused on those two stocks, then you would fail to see the other companies that were hugely impacted by that announcement. For example, KR, WMT and UNFI are all in the grocery business and saw big moves down today.
You can see a short video of these AMZN ripples on my Start Day Trading Facebook page. The link below this paragraph will take you there. Then just scroll down the page of posts until you see that video.
Markets dropped lower today. In the chat room, I posted 7 "high probability" trade set ups. All 7 trades were shorts and all 7 hit their targets. You can see a 1-minute review of those trades in today's link below this text.
But I also wanted to comment on a sad fact: some traders never short the market. They only trade long. Personally, I don't understand this. If the market is going down, then you want to be short. If the market is going down, then your biggest gains and your highest probability trades are going to be in the direction of the market.
So, if you are one of those traders who never shorts the market, I encourage you to get out of your comfort zone and try it out. The water is warm...especially on a day like today!
See today's link to view the short video.
Bob Joiner is a stock analyst and has been leading a day trading chat room for over 8 years. This page contains videos and information about that chat room.
Forex Trade Alerts contains the Sunday videos for swing trading the currency market.
The trending ETF bulls and bears are posted here each Monday.
Who is Robert Joiner?
Support and Resistance. Free six part video series sign up form.
Find free forex alerts on Facebook with Start Day Trading
ichimoku swing trading
When you practice trading stocks, your day trading skills improve on several fronts at once.
It was a great day in the chat room this morning. The link below this paragraph will take you to a short YouTube video that reviews each of today's "high probability" trade set ups.
This page will feature quotes from books that I think are worth reading.
I just revised the page on this site that refers to my book Trading the Afternoon Market. Click the link in today's post to read more about it's content.At the bottom of that page, you'll also see the links to two resources for more free content via Facebook and YouTube.
Even though the overall market is bullish right now, the Consumer Cyclical sector has been hard hit this week. Today's link takes you to a list of the "Top 11" Bear stocks in that sector.
Today's market was very different from yesterday's market. Many traders find it difficult to adjust their trading styles to different market temperaments. Some of these skill sets only come with experience. But, even so, it's important to keep stops in place. We only have ourselves to blame if we allow a difficult day to become a total disaster. That's the hard reality of trading.
Today's link provides a new quote on this topic. You might find the other quotes helpful also. Just click the link below.
I posted 7 trades in the chat room this morning. Some of the stocks traded: MPC, DEPO, MBLY, and IDXG. The blue link below this sentence will take you to a video review of some of those trades.
The Best Trading Book I read in 2016 was Dr. Dayton's Trade Mindfully. Today's link takes you my review of that book and includes a few excerpts from that book.
IONS was one our "high probability long" trades in this morning's chat room. This YouTube video covers the basic analysis of the trade.
BBBY was one of our "high probability" shorts in this morning's chat room. This video covers part of the basis for that trade.
A description of three membership sites.
Bob Joiner's chat room Q and A and trade history
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.
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.