Technical Analysis For The Struggling Day Trader

What is technical analysis? It’s the process of analysing price movements (past and present) of an asset in hopes that it can give us some indication on where it might trade in the future. Generally, this done by observing a chart of the security when looking to buy stocks online. Why should you care? Since most discretionary stock trading consists of having an opinion on the future direction of a security, it’s important to have tools that help us generate ideas that provide an edge.               Technical analysts makes a couple of assumptions Price patterns repeat, and therefore, they’re predictable. There lies a belief that fundamental factors are imbedded in price behaviour. Of course, there are some truths to these assumptions, but there are

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The Secrets of Support and Resistance Explained When Trading Penny Stocks

Identifying support and resistance is the backbone to technical analysis, and it’s essential to anyone interested in using technical analysis in their trading of the best penny stocks. Fortunately, with proper guidelines and practice, it is a skill just about anyone can gain. With that said, let’s define what we mean by support and resistance. Definition: Support and Resistance Support is defined as a price level where an asset stops declining due to the presence of more buyers than sellers. On the other hand, resistance is a price level where the asset can no longer rise because there are more sellers than buyers. Sounds simple, right? Well, it can be. However, there are a few types of support and resistance. The simplest type is based purely on horizontal price levels,

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A Simple Approach To Position Sizing and Money Management Trading Penny Stocks

Do you want to make lots of money trading penny stocks in the shortest amount of time possible? Of course you do…I mean, who wouldn’t? Everyone wants to take a little bit of money and make it into something substantial. Now, there is nothing wrong with having lofty goals. In fact, setting goals for ourselves is a great way to stay focused and motivated. However, you’ve got to be realistic…and you’ve got to be smart on how to go about building your account and day trading stocks. Set Realistic Goals   The Mind Set Trading Penny Stocks Think of the money deposited in your trading account to be already gone. It’s money that you can afford to lose…money that you don’t need to survive, pay the bills…it’s your play money.

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Get Rid of Your Trading Discipline Problems Once and for All

Have you ever had a series of successful trades, only to do something dumb and give all those profits away? If you haven’t, congrats…it’s a crappy feeling to see one mistake destroy several right decisions. Of course, a lot of trades are going to end up being losers for us. Just make sure to execute your strategy and apply proper risk management to your trades. It’s the times when we don’t do that, which gets us in trouble. Lack of discipline Like it or not, it stems from the lack of discipline. Having discipline allows us to stick to our trading plan, not chase trades and not gamble our money away. Trading discipline can be gained through repetition. For example, you follow a specific process in terms of how you

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Why Penny Stocks?

The story of small triumphing over big is a familiar one. David, after all, did slew Goliath. But how familiar is the story of small cap stocks outperforming their bigger cousins? The answer may surprise you and it’s our thesis that in terms of generating alpha (outsized returns) in investing, small caps contain the most value and present traders with greater arbitrage opportunities relative to their peers. It’s a bold claim, we know but there’s some strong proof. Let’s start by looking at the so-called supposed disadvantages of small caps – our point here being that we don’t consider them disadvantages at all. On the contrary, we believe that these inherent characteristics are most beneficial to traders.   Disadvantages of small cap stocks   Volatility Small caps are sometimes skirted

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