Jim Wyckoff New Orleans-Nov. 18-FWN–THE FORMULA FOR TRADING success, according to Robert Deel, is: Self-Discipline + Knowledge + Experience + Skill = Success. Success = Profits. Risk management and money management are key to achieving any success in a market, said Robert Deel, a registered investment adviser and portfolio manager for Strategic Management Decisions, based in Duarte, …
Stock market and options trader Richard Lees has combined physics, pattern recognition and technical analysis to form several new “pH-Indicators” to guide him in trading.
The ideal technical indicator, according to Andrew Cardwell, Jr., is one that offers capability to identify and monitor the current trend, highlight overbought and oversold extremes, and give early warnings of a trend change. “The Relative Strength Index (RSI) is such an indicator, offering the best of all worlds,” said Cardwell, president of Cardwell Financial …
In the early part of the 20th century, Jesse Livermore was the most successful (and most feared) stock trader on Wall Street. He called the stock market crash of 1907 and once made $3 million in a single day. In 1929, Livermore went short several stocks and made $100 million. He was blamed for the …
For many years I was a futures market reporter with the FWN wire service (now called OsterDowJones). I spent time working right on the futures trading floors in Chicago and New York. Most of the time my daily reporting “beat” involved interviewing traders and analysts and then writing three daily market reports. For months at …
Jim Wyckoff Many traders attempt to find the single-most “robust” trading strategy possible by looking for one set of rules which works for all markets. Such systems don’t take into account the fact that markets can change quickly and dramatically due to a news event, according to Perry Kaufman. “There are times when a market …
Achieving success as a futures market trader can be a daunting proposition, most traders will agree. Given that premise, why would a successful, longtime futures trader like Joe DiNapoli reveal his trading secrets to the public? “Commodity traders tend to be risk-takers–self-made people. I enjoy them immensely. The public doesn’t realize some of the advantages …
By Jim Wyckoff I have received several email messages from my readers asking about how to best determine entry and exit strategies when trading markets. Here are just a few of their quotes: “Though my success rate has been high, I am only breaking even financially, due to getting out too early in profit and …