Archive

Market Psychology Tests

Here are a few simple market psychology tests you can take to get a better understanding of your strengths and weaknesses in trading. I recommend the Success Psychology Test and Financial Values Questionnaire first as these two surveys will help you discover where you are at on the path to financial success. Trading in the Zone is a great book that will improve your trading psychology. Here is some more insight to the psychology of trading.

0
Read More

All Signs Lead Higher

As talked about in the April 28th post we are targeting 1390s on the S&P500. You can see that we’ve pulled back once again halfway back and the old resistance has acted as new support. Option max pain for the SPY is 134 as of May 10 (prior highs) so we have a clear line in the sand if we should fail out of our move higher.  

0
Read More

Day Trading with Pivot Points

The pivot point for the day is calculated by taking the prior day’s (High + Low + Close) / 3. These are commonly used by floor traders in the trading pits to identify key support and resistance levels. If the market opens above the daily pivot, look for short entries for a move down to test the pivot and vice versa. If the pivot isn’t tested in the morning session, then look for it to test in the afternoon. Daily…

0
Read More
Categories