I have encouraged all of my trading students to spend at least as much money on personal development and mental management as they do on software and trading systems. I do really believe that trading is 90% mental, 80% money management and 10% signals.
Chart Scannning Software
October 16, 2013 By
I have been trading now for over 20 years. I gradually moved to trading the eMini S&P using Ensign Software which is a professional charting program with many features, special indicators and an extensive programming language. You will need a data feed and depending on your trading style I recommend either eSignal or Trader Bytes (less expensive). Try to avoid the free data guys like Interactive Brokers. Many of the free data sources chunk the data, or are slightly delayed.
Stock Search Programs
September 19, 2013 By
As I mention in my bio, I started out trading stocks back in 1994.There was an author selling a program for over $5,000 per month and an additional $600 per month for weekly stock picks. After a little research I found that his trading account was over $1 million in the hole. I also discovered that he was using Telechart 2000 to find these stocks. I passed on his course and went directly to using TC2000, which I highly recommend today. You can scan 9000 stocks in 15 seconds using your own or prebuilt scanning criteria.
Sentiment and Candlesticks
September 9, 2013 By
Trading has been around since the Japanese Rice Traders developed the Candlestick Trading System. Like other systems the candlesticks were pretty simple. Now, according to Steve Nison, one of the Candlestick guru’s who have written extensively on the subject there are now over 57 candlestick formations, Trying to trade all of them becomes another impossible task.
