Category Archives: Day Trading Blog

Trade Like Van Halen

Estimated Reading Time: 4 min. A few weeks ago I was in Colorado Springs to visit my friends at Trade Navigator. I asked the founder and president Glen Larson to do a special webinar for Rockwell Club Members only, and he talked about what he learned from from programming and working with some of the most famous traders over the last 30 years. One of the stories that Glen mentioned in this special presentation was how to "Trade Like Van Halen". Here's what Glen said: Trade the “Van Halen Way” by Glen Larson (Founder and President of Genesis Financial Technologies) Many traders, including myself have had periods of great trading ...…

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Three Steps To Improve Your Trading

Estimated Reading Time: 5 min. Many traders struggle to make consistent profits. And so they keep looking for another strategy, another course, another trading robot, .... just ANYTHING that might improve their trading. And that's why many traders spent more time and money on strategies, eBooks, indicators and courses, until they have no funds left to trade. But as you know, it doesn't fix the problem! In the following article I want to show you three steps to improve your trading. In fact, I believe that by following these steps and you can dramatically improve your trading in the next 24 hours! Step 1: Record Your Trades Whether you are ...…

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Swing Trading Options - Part 3

Estimated Reading Time: 5 Minutes. In the previous two blog posts we talked about some simple strategies for BUYING AND SELLING OPTIONS. In this blog post we will discuss more advanced options trading strategies: Vertical Spreads and Straddles and Strangles. Don't worry! I'll keep it simple :-) Strategy 1: "Vertical Spreads" When trading a vertical spread, you are buying and selling options of the same underlying stock (e.g. AAPL), same expiration date, but at different strike prices. There are two main reasons for using vertical spreads: Limit your risk when SELLING options Reduce your cost when BUYING options Here are examples for both scenarios: Reason 1: Limit your risk In ...…

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Swing Trading Options - Part 2

Estimated Reading Time: 5 Minutes. In my previous blog post we talked about BUYING OPTIONS. In this blog post we will discuss why some traders prefer to sell options, and review two basic strategies for SELLING OPTIONS. As discussed in the previous blog post, the buyer of an option has to PAY the price of the option. When selling options, the trader is collecting the price of the option as a premium. He then hopes, that the option expires worthless so that he can keep the premium. Here's an example: As I am writing this blog post, AAPL is trading at $440. Let's assume you are bullish on AAPL and expect ...…

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Swing Trading Options - Part 1

Estimated Reading Time: 4 Minutes. Lately I have been getting a lot of questions around swing trading options. When swing trading options, there are two basic approaches: You can BUY options or You can SELL options. Both approaches have pros and cons, and in this blog post we will focus on BUYING OPTIONS. Buying Options There are two main reasons why a trader considers buying options: Reason 1 For Buying Options: "Home Run Trades" You are trying to buy a so-called "out-of-the-money" call or put option cheap - often only a few cents - and hope for an explosive move in your direction. If this happens and the option gets ...…

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How To Trade With Confidence - Part 2

Estimated Reading Time: 5 Minutes In my previous blog post we talked about using "I will" statements to boost your confidence as a trader. Reading your "I will statements" aloud will help you to start the trading sessions with lots of energy. But as you start trading, your energy might decrease. And even though you were pumped up before you started, now the energy gets sucked out of you. This could happen for one of the following two reasons: The markets are slow and you have to wait forever the right opportunity. You placed a few trades, but they didn't work out and you're down for the day. You might ...…

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How To Trade With Confidence - Developing A Winning Mindset

Estimated Reading Time: 4 Minutes Self-Confidence is an essential element in any business venture. This is especially true if your business is day trading, since psychology plays such a major role. In this blog post, I want to share a few things that helped me change and improve my mindset as a day trader, develop a winning mindset and trade with more confidence. About 10 years ago, I received a copy of the book "Think and Grow Rich!" by Napoleon Hill. Today, I credit much of my success in business (including day trading) to this book and the core values it teaches. At first, some of the principles and techniques ...…

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Trading Tools And Resources

Below is a list of trading tools and resources that I personally use. Thought this might be helps. I'll update this page frequently, so make sure to bookmark this page and check it out from time to time. Cool Tools http://www.clocx.net - The famous clock that you see on our screens. It's a "floating clock" so you can move them anywhere you want on your screen. I always like to keep an eye on the time when trading. http://www.evernote.com - Great for taking notes and synching them across your computer, phone and tablet. I use this to keep my trading journal and write down trading ideas. Economic Calendar & News ...…

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Trader Tax Status Other Tax Benefits For Active Traders

Have you heard of the "Trader Tax Status?" Do you know that as as trader, there are many tax breaks and benefits available to you? Unfortunately most traders don't take advantage of all available tax breaks. This could cost you thousands! It doesn't matter if you are new to trading or have been trading for a while. And it doesn't matter whether you are making money with trading or you lost money. If you qualify for "Trader Tax Status", then you are entitled to several tax breaks that investors are not. As an  example, if you qualify for trader tax status, you can deduct "investment expenses" such as home-office deductions ...…

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My Favorite Trading Books

Estimated Reading Time: 3 minutes I often receive emails asking me to recommend some trading books. Over the years, I have bought dozens of trading books, and here are my 5 favorite books: Reminiscences of a Stock Operator One of my favorite trading books. This is the story of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Easy to read, yet full of priceless tips for traders, e.g. Learn how to lose Learn to take a small loss early Don't try to play the market all the time. It can't be done, too tough on the emotions ... ...…

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