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Someone challenged me today, one of my facebook posts about my claim that stock trading is scientific that was saying that stock trading is a skill and is absolutely not scientific at all. So I recorded this quick video just to share my perspective about why I believe trading can be scientific and how you can use scientific principles to improve your stock trading.
The decision about how to execute your stop loss orders is an important aspect of stock trading system development. As a stock trader you have three options for how to execute your stop loss orders…in market stops, close only stops or exit the next day if your stop is breached in trading today. While this choice may seem minor, it can have a dramatic impact on your system profitability, and how your cope with certain stock market scenarios.
Have you ever been frustrated by how long it takes to develop and test a stock trading system properly?
I have struggled with this a lot recently – doing a lot of backtesting and optimization, but not really getting anywhere. That was until I was reminded (at Brendon Burchard’s High Performance Academy in San Diego) about this one simple trick that tripled my trading system development productivity. This very subtle change in the way you approach trading system development will dramatically improve your productivity, quality of results and the profitability of the stock trading systems that you develop.
Have you ever looked at a new stock trading system (or have developed your own) and wondered HOW TO START trading the system?
Do you just start taking the signals the system generates? How big will the initial drawdown be? Is there a better way?
This video explains 2 approaches to starting a new trading system and how you can determine which is best in your situation…
Have you ever wondered why, despite all of the cool tools, the sophisticated analytics, and the huge amounts of data, why most private stock traders still can’t make money in the market, and don’t have systems which are consistently profitable? The reason came to me...
Did you ever get busted at school for copying a person’s work next to you or cheating in a test and looking at someone else’s answers? I’m sure all of us have done it at one point or another. Here’s the thing, at school that’s a punishable offense. It is something...
The stock market is really ugly right now, there is no two ways about it. But did you know there are two simple things that take away the confusion and stress?
Trading Systems are beneficial for most traders because emotions cause poor trading decisions. My personal experience demonstrates why…
Searching for the perfect trading system can cost you big time in the financial markets. Switching systems looking for the holy grail is a disaster.
Traders who don’t set an initial stop loss are likely to lose far more money on bad trades than they should…but there is a risk most traders are not aware of!
Long term trading systems may not be sexy, but they can give you a lifestyle that most people only dream of!
The markets are changing all the time, so complexity is the enemy of profitable trading. Complex systems are likely to break down quickly, so keep it simple!