Forex Is Crazy

I have been trading for over 7 years now and I took many wild rides both up and down in my trading in the early days. When you first get started you are in search of the holy grail of trading...which you eventually find out actually does not exist. However there are many ways of trading that can make money. The important thing is to find YOUR style and choose the ASSETS you are most comfortable trading. It probably makes a lot of sense to choose instruments and strategies that MATCH the size of your account. When I started I did a lot of things the hard way. But in today's world you have tasty trade with veteran trade Tom Sosnoff. I thank him for starting his network and for snowballing a revolution for the self directed trader/investor. I have learned a lot since first meeting Tom back in 2010 at the traders expo. The lessons preached over and over on the show: Trade Small, Trade Often! You don't want to trade too big relative to your account and risk blowing up. And you want ...

We have had a very nice corrective move on the /ES the past few sessions. And since topping out at 1,685 (the all time high), we have traded off about 130 handles or about 8%. The question is whether the move is over or will we see lower prices? I continue to be short the /ES (net delta position) as I believe we could see a bit more downside until we see 1,530 on the /ES and then that will likely be followed by some consolidation through the rest of the summer. In the above chart you can see the profitability range I have highlighted in grey based on my aggregated position in the /ES. To date I have collected about 100 /ES points in premium over 52 contracts traded. Although I have collected 100 points my max gain is only 70 points or $3,500 on this aggregated position with 66 days left to expiration. Good Luck Trading! In The Money Trades And 1 favor that we ask:  If you like the hard work we put into our blog posts and videos, PLEASE help us out by sharing them. Click the share ...

It has been a couple of weeks since my last post. If you look through the feed you will likely notice that my last post was on May 23rd. I really can't believe that it has been almost three weeks. Never fear I am alive and well and have continued to trade the markets. But over the last few weeks I have been pretty busy with work in both my day job and in my side pursuits. More recently I have been teaching myself programming skills. Before we break off into market analysis I will leave you with this quote I live by from Jim Rohn: "A formal education will make you a living, but self education will make you a fortune". My last post was the first of what would be the first corrective move to the downside after hitting all time highs at around 1,685 on the /ES. Chart from May 23rd And 3 weeks later... Looking at the chart above you can see that the markets pulled back about 90 points and have found support around 1,597 on the /ES. During this time we finally got a pull back a...