+ Tips, Tricks & Techniques - Nasdaq Nuggets
ARTICLE : Anticipation
May Add to Profits
Ralph explains how anticipation can be used to be ready for the next trading signal. If you are following a system such as the Daytrader's Bulletin Real-time Signals for the Nasdaq or S&P 500, any time you are in a trade, you can anticipate the next trade (your exit or stop placement for instance) and have your order entry software ready to pull the trigger.
Read complete article: Anticipation
May Add to Profits
ARTICLE : Trading for
an Income Revisited
In June of 2001 Ralph presented on online seminar in cooperation with Zap Futures. That presentation is archived at ZapFutures.com.
We have also posted an html version. The graphics are not as clear and there is no audio on our version.
We are often asked about the realities of daytrading, and in this article, Trading for an Income Revisited, Ralph addresses this question.
Read complete article: Trading for an Income
ARTICLE : Daytrading in
The title says it all. The Nasdaq and S&P markets have both shown a reduced range over the last year. Ralph shares his thoughts about the reduced range.
Read complete article: Daytrading in Quiet
These articles and more are found in our Tips,
Tricks & Techniques section:
We have decided to change the commission rate we show in our trading results to $10/round turn. We believe this rate more accurately reflects current market conditions. Many brokers are offering rates as low as $5.00 and we have been advised by some of our subscribers they are paying that rate.
Consequently, starting January 2nd, 2002, our new rate will be reflected
in the trading results shown on pg. 5 of our Daytrader's Bulletin Overnight
Updates for both the S&P 500 and Nasdaq 100.
Rules for Trading the Trendline Approach
The best way to develop a strong and effective trading approach is to find something simple and develop the discipline necessary to trade it without deviation. This approach is excellent for discipline training as it is simple to follow and simple to execute.
Read our Mentor Update for Trading the Trendline Approach. Links for Free Trial Library and Subscriber's Library are on the left-hand side of the above page and are also listed below.
This Mentor Update was sent to subscribers and current free trialers
and is available to anyone taking a free trial in the future. If you have
not had a trial for at least six months, request
your trial today.
Mentor Updates Library
Links to the List of Titles in the Mentor Update Libraries are on
Both libraries require a user name and password for access. If you have not had a trial within the last 90 days, sign up now:
If you have had a recent free trial and liked what you saw, now is a
good time to subscribe.
Alan Greenspan to the rescue! Here is a chronology of the Fed's idea of saving the economy. If it were only this easy to shrink a few waistlines as well ;-)
January 3rd, 2001- After raising rates six times in 2000, Greenspan leading the FOMC (Federal Open Market Committee) orchestrates a complete about face in response to the rising concerns about the economy.
Starting rate - 6.5%
January 31st, 2001 - When the word "recession" was first uttered, the Fed's again lowered rates 1/2 pt. This cut was done unannounced and caused daytraders some grief that day. New rate 5.5%
March 20, 2001 - Rates cut another 1/2 pt. As of March 20th, the new rate was 5%
April 18, 2001 - Yet another 1/2 pt cut. New rate 4.5%.
May 15, 2001 - 1/2 pt rate cut called to combat rising unemployment. New rate 4%. Visitors to a CNBC Internet chat room saw a post cited by "Asian Business" which stated: "[Greenspan] is an old fool who should be packed off to a retirement condo in Florida."
June 27, 2001 - Another cut, this time for 1/4 pt. Expectation was announced that the results of the January cuts would soon impact the economy as it generally takes six to nine months for a cut to show noticeable results.
August 21, 2001 - Feds cut rates 1/4 pt, to new rate of 3.5%.
September 17, 2001 - Just six days after terrorists leveled the World Trade Center, the Feds announced another 1/2 pt. cut. New rate 3%.
October 2, 2001 - Another cut of 1/2 pt brings the prime lending rate to 2.5% -- its lowest rate since 1962.
November 6, 2001 - A 1/2 pt cut on Nov. 6th precedes the Nov.
December 11, 2001 - The 11th cut in 2001 of 1/4 pt brings the
Fed funds rate to 1.75%, the lowest level in 40 years. Economists expect
a rebound in the first half of 2002.
No 3 in 10 Winning Techniques of Successful Traders, featured in our Nov/Dec 2000, Newsletter for Active Traders states:
Sufficient trading capital pertains to risk management and risk capital simply means money you can afford to lose. Traders often balk at the phrase, "afford to lose" in that they want us to understand: they do not like to lose, but will, if necessary.
Money you can afford to lose simply means money that if it were gone,
Here are some simple risk management rules. Be sure to have your risk management in place before you begin trading and follow the rules. To truly master daytrading, you must first master your own impulses.
One can easily see that the larger the trading account, the more easily a trader can be in the market and still stay within the parameters of his or her risk profile.
If what you are calling "risk capital" is not truly money
you can afford to lose, you are setting yourself up for additional
psychological issues regarding the fear of loss.
What a trading year it has been! Blood in the streets, people have lost entire retirement funds due to companies suddenly going bankrupt. Daytrading has been difficult due to the small ranges we've been seeing lately (see article mentioned above, Daytrading in Quiet Markets).
How much can the current market be blamed on the events of September
Reports that were released after September 11th and before the markets were reopened were very negative even though the reports reflected economic data from the month before.
The signs were all there, yet we are now told the recession may be short lived. Tell that to the thousands being laid off. We don't know what the next year will hold, but at least we have some history behind us and can more effectively deal with whatever we are dealt in the way of market action.
Anyone can have a full week's trading with our Real-time Signals, if you haven't already had a trial in the past 90 days. All new free trials to the Real-time Signals have access to both the S&P 500 and the Nasdaq 100 Signals. You will also receive the Overnight Updates for both markets as well as Mentor Updates that are published during your trial.
If you have recently had a free trial and liked what you saw, now is
a great time to subscribe.
Federal Open Market Committee:
ProfitFinance.com provides JavaCharts which have an
Market Skill Builder
- If you are learning to trade, and especially if you are new to trading
and want to tackle daytrading, you'd be well advised to spend some time
with a simulation program before attempting any real trading. The Market
Skill-Builder software is easy to understand and use to help develop skills
and confidence to trade in the real arena.
OnTheOpen allows anyone to receive our S&P 500's Pre-Opening Commentary. Subscribers receive this information in the Real-time Signals, a few minutes before the markets open. With OnTheOpen, and In as short a time as is possible (using the Yahoo Group's service), you too can obtain this valuable pre-market information outlining our analysis of the market's probable open, gaps, reports, what happened during the overnight session and what you might expect to happen for the first hour or two of trading.
While we are not able to predict the future, our analysis of the overnight markets is generally very good and accurate for the first hour or two of trading and can help you make a better informed trading decision.
Sign on for free.
The OnTheOpen message is sent once a day on trading days only, and is
an announcement list only (no posting by others). URL: http://groups.yahoo.com/group/OntheOpen
Our favorite trading books - Technical
Analysis & Charting Favorites
Check the list of our favorites, many of which are on our own bookshelves. Amazon is hanging in there and still offering deep discounts on most books. Gas prices have fallen back to realistic levels. Maybe we can just keep riding this gravy train for awhile longer? You just never know...
If you are buying less than $50 worth of books it may not be worth the additional cost of shipping and the extra time to receive your order. I generally order several books at once, if ordering online, and then the savings are well worthwhile.
(Remember, to close the new window that opens when you click a book link,
use Ctrl + W)
Today's Computer Power, More Computer For The Money
Computers keep getting faster and less expensive. It's getting difficult to keep up.
I've seen vendors that advertise specifically to daytraders, as if you have special computer needs. Don't believe it. It is simply marketing hype for computer system sellers to attempt to over sell the daytrader.
The average system today is well equipped to handle a trader's needs.
I prefer to buy and have the system built locally. If that nice name
Lastly, remember to make regular backups of your data folders. The hardest thing to replace is your data. At the end of trading just do a simple cut and paste of the entire folder which contains your data files, or create a backup macro to do this.
Ideally burn the backups onto CD, so you can re-install them on any system at any time. If that isn't possible, make a backup to another computer, buy a portable hard drive, or use a Zip drive, so the data isn't stored on the same hard drive as the original.
Expect to be able to buy twice as much at half the price next year!
Problem: Web Pages Are Not Updating
Internet Explorer: Go to Tools > Internet Options > General >
Make sure the box for Every visit to the page is checked. If it is not, check it and choose OK.
Then just click OK again to close the dialog box.
Problem: Password Protected Areas Won't Allow You Access.
Internet Explorer: Go to Tools > Internet Options > Security >
Scroll to the bottom and you'll find User Authentication
S&P 500: Our cumulative net result up to and including December 21st,
Nasdaq: Our cumulative net result up to and including December 21st,
These results are posted after each trading session in the Overnight
It is our sincere desire that our web site and Real-time Signals service
is an informative and educational resource for you as a trader. Please
be aware that you may trade in front of us, with us, or after us and that
it is imperative that you make your own trading decisions based on your
specific risk tolerance and
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