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Chipps Article Archives
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Chipps Article Archives

  #1 (permalink)
Market Wizard
Parsippany+NJ/US
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ, CL
 
chipps1983's Avatar
 
Posts: 1,699 since Jan 2015
Thanks: 3,789 given, 2,428 received
Forum Reputation: Legendary

Chipps Article Archives

I will be reading and posting articles for the purpose of revisit. futures.io (formerly BMT) is a good place for me to save all the readings and sharing with other fellow traders.

 
  #2 (permalink)
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  #3 (permalink)
Market Wizard
Parsippany+NJ/US
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ, CL
 
chipps1983's Avatar
 
Posts: 1,699 since Jan 2015
Thanks: 3,789 given, 2,428 received
Forum Reputation: Legendary

Trading Mantras to be successful trader


• Seeing an opportunity and acting upon it are two different things.

• Price has memory. Odds are what price did the last time it hit a certain level will be repeated . . . (BR: Until support or resistance fails).

• Pay attention to price action, regardless of what the charts are saying.

• Look for a reversal at the same place you’re expecting a breakout or breakdown.

• Price action sets up against the majority; the best profits are often in the opposite direction of the way you’re planning to go.

• Add to your winners and cut your losers. ’nuff said.

• Opportunities come along all of the time. Wait for the best ones.

• Don’t overly anticipate or see things that aren’t there. Wait for your signals.

• The day isn’t over until the closing bell ring. The way it ends may be vastly different from how it begins.

• Your first job isn’t to make money. It’s to protect capital.

• Don’t rush to buy the lowest price or sell the highest price; It could get much lower or much higher before turning around.

• Most profits come during a few days each month. Play a waiting game the rest of the time.

• Traders lose the most money on the same days the market offers the greatest profits.

• Place yourself ahead of, behind or opposite other traders. The one place you don’t want to be is in the middle of the crowd.

• Read the charts with one eye on where the whales will act. These are the pivot points where the broad market will rally or sell off.

• Traders tend to be early rather than late into positions. Their fear of missing the move overwhelms their fear of being wrong.

• You lose money when you trade what you believe instead of what you see.

• Trade triggers, not patterns. The trigger is a perfect alignment of price and time.

• A nervous stomach gets in the way of short sales. Short-sellers see bull markets in every bounce and give up good trades to avoid getting trampled.

• Tiny pieces of the market puzzle reveal the big picture. Keep a diary of isolated observations because they pay off in time.

• Throw money at the market after an extended break. The action gets you in synch faster than sitting around and trying to figure out what you missed.

• The crowd gets excited about the long side when it’s time to sell short, and excited about the short side when it’s time to go long.

• Price moves along the path of least resistance.

• It’s a lot harder to follow your rules when things get really crazy.

• Whales portray themselves as smart money, but they are as confused as everyone else.

 
  #4 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Please do not post this crap here.

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