Newsletters
‘Sell in May and Go Away’ Does Not Apply to DayTradeSPY’ers
As traders, you will no doubt encounter the adage “Sell in May and go away.” This is one of the most well-recognized trading strategies espoused by investment gurus, whereby you take advantage of seasonal tendencies by selling your equity portfolios in May, only to buy them back in the fall. Its origin dates back to […]
Borrowed from the Aviation World: ‘IMSAFE’
A shout out to Captain Bob P. for his suggestion on implementing the “IMSAFE” program. Thank you! The Federal Aviation Administration (FAA) released this self-assessment tool for pilots, which is designed to help keep them safe. As you know, pilots use checklists for virtually everything. They check it all, even long before starting the engine. […]
What to Look For in a Broker
The first thing I hear about this topic is low commissions. While important, broker commissions is number five on my list. Instead, you need to find out the following: Number One: Can you communicate with the broker? Can you phone someone when something goes wrong? A popular brokerage several years ago got hacked, causing many […]
What to Look For in a Mentor
We never saw this coming! Last week’s article, entitled “Never Waste a Good Loss,” hit a nerve with many subscribers. Even non-subscribers signed up after realizing that we do not skirt losses. Instead, we attack them head on. This is just what they wanted to see. Thank you to Bruce S. for his kind words: […]
Never Waste a Good Loss
No one likes to lose. Especially me. Especially after all these years of experience. But losses are inevitable. They can be caused by technological issues, surprise events, human error or outlier trades gone wrong. It happens. Whatever the cause, I learned early on that, even though I lost money, I should never lose the lesson. […]
Money to Brains Ratio
Years ago, I had a client named Bill who took our “Ultimate Training Course.” We did some personal coaching sessions as well and, frankly, he became an excellent trader. I was very proud of his accomplishments. He was an intelligent, 40-something-year-old, executive-type family man who seemed to be very much in control. He could take […]
Trust Your Indicators
A recent email that I received read: “I am a new subscriber, and lost my nerve at around 11:30 a.m. and decided to change my order (to sell for a 5% profit) to sell for an 8% loss. I was unwilling to lose more than that, but as the rest of the trading day continued […]
A Hot Tip on Getting Filled
Hardly a day goes by without someone commenting that they did not get their orders filled. They often ask how I seem to be able to buy and sell when they cannot. I have even been accused of having some inside connection to the market. I wish! If I had an inside track to the […]
A Trader Who is Ready to Quit His Job
A prospective client named Paul told me he’s ready to quit his job and potentially take $100,000 and turn it into $500,000 by following us in the $10,000 Challenge. I am referring to the $2 to $10,000 Challenge over the course of three months. It is now in its third round after two successful series. […]
The Day Hugh Dodged a Bullet
It is a somber day as I reflect on what took place 15 years ago. Every year, my memory shakes me to the core regarding what happened on that fateful night of February 12, 2009. I was in Florida, waiting for my early evening Continental Airlines flight back to Buffalo. Having arrived well in advance […]
