Reading momentum.

Reading the momentum is key to trading success. Notice in the following sequence how the  QQQ gives confirmation to the trade. Both TNA and QQQ are moving in sync. Short and long the signals are the same, increasing and decreasing volume pulls and pushes the stock lower and higher. Buyers and sellers alternate the control. Bounces and pops happen. Take advantage of the nice trading range of TNA.

TNA short.
Chart left is 5 min, center is 15 min, right is 5 min QQQ. Falling volume on QQQ of the bounce is the cue to get into the trade. Stop is placed above near time wicks. Green line indicates short entry, red line is the stop.

Doubled down size on the short. QQQ is doing the same thing. I'm riding with the momentum.

Covered it after that massive volume candle.

Bought it on the bounce. Red line is the long entry, green line is the stop.

Sold it. Momentum is slowing, look at the falling volume.

Went short, but stop was hit.

Waited a bit longer this time to short, placed stop above wick at previous bounce.

Covered 15 minutes before the close.

 

Lots of dead links after 3 years away so here are updates starting with the easy ones. I will redo and also expand the affirmations shortly.

Power of Concentration book
http://www.templeofearth.com/books/concentration.pdf

Radio links- choose your own style that will help you maintain inner peace. Instrumentals are best.
http://www.shoutcast.com/radio/meditation
http://oem-radio.org/tune-in-now/
http://tunein.com/radio/Munich-Radio-s55151/

Revived the blogs

I've had many requests during the last 3 years to reopen both blogs from new and experienced traders alike, so I have finally decided to do so.
 Here's my other blog http://fearandgreedtrader.blogspot.ca/
There's a ton of information contained on these pages regarding gaining the edge needed to understand and compete.Thought provoking articles that make you ponder your psyche and question who you are and what may be holding you back to becoming the kind of successful trader that you seek to become. Pathways to insight into yourself and your way of thinking and solutions to implement to gain a positive edge on your way to trading enlightenment. It will serve you better than any fancy new indicator can because it ties together your method and ultimately activates the buy or sell button inside your head.

Many links on these pages are probably dead now, so I may update the affirmations, add more, expand on articles, maybe offer webinars, and mentoring. We'll see how it all goes.

The past three years away from trading has marked the most difficult period of my life with some huge personal challenges put on me. Certainly not in a right minded frame of mind to be trading. But time heals, now I'm back... Here is a favorite quote that sums it up:
"Where there is life, there is hope. Where there are hopes, there are dreams. Where there are vivid dreams repeated, they become goals. Goals become the action plans and game plans that winners dwell on in intricate detail, knowing that achievement is almost automatic when the goal becomes an inner commitment. The response to the challenges of life—purpose—is the healing balm that enables each of us to face up to adversity and strife."