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Mike's E-Book: "Read the Greed-Take the Money:  2nd Edition"

 

GET IT NOW!!  And get 2 FREE WEEKS of our Nightly Support and  Resistance Updates  WHICH INCLUDES access to our Live Trading Room!

This E-book graphically demonstrates, in detail, Mike's personal trade setups.

This book contains secrets
never seen before that will
stack the odds in your favor.
Learn when to enter the market and just as important, when *not* to enter.

Get the Secrets of a 30 Year Veteran Trader now!
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"Finding Fixed Support and Resistance"

 

Would YOU like to Learn How to Find Support and Resistance Like a 30 Year Veteran Trader?

You'll get BOTH the tutorial, AND and the Audio/Video CD-ROM on "How to Find Fixed Support and Resistance" areas for the next trading day. 

 

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Read the Greed-LIVE!

The Ultimate Trading Course!

 

11 CD-ROMs and 3 Trading Booklets showing exactly how a 30 year trading veteran trades successfully!

 

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Attend a Week of Intense Training from the comfort of your own home-In your own trading environment.


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Day Trading Tips
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Are you tired of the same old day trading tips? Like, “cut your losses and let your profits run.” “Never let a gain turn into a loss.”, or the most repeated tip, “Buy low, sell high.”

So how about something new? Let me give you some
specific day trading tips that will turn your trading around.

A good defense beats a good offense over the long haul. If you want to stay in the Trading "game", then developing a good defense is a MUST.


Rule Number One: Cut your losses immediately when the trade doesn’t go your way. There’s nothing harder to learn and nothing better. I’ll be even more specific. The average “run of the mill” day trading advisor will tell you to enter a trade, place a stop of 2 to 4 points, place a target that’s equal to your stop, or 2 to 3 times greater, and then wait for your stop to get hit. This is a big mistake that is going to end up costing *you*.

The time to wait is before you enter the trade, not after.

I’ve been trading for over 30 years, and I don’t trade like the crowd. The crowd waits for their stops to get hit. They sit there hoping their trade comes back from negative to positive territory, but it usually doesn’t and they lose money. They believe that the edge (probability of success) isn’t good enough on their entries. This is the crowd’s approach and it just doesn’t work.

My
day trading advice for you is to use radical soft stops that go against human nature.

I write a market newsletter each day, giving my "game plan" for the next trading day. I'm as specific as possible including Support and Resistance levels that I will be buying and selling against, which provides *you* with great trade set ups nearly everyday.

In trading, your entries and your exits must NOT come naturally at first. Human nature is responsible for the fact that 90% of those
day trading the eminis lose money. If you follow the herd, you’ll lose money too.

Some of my subscribers tell me it seems impossible to get out of a trade early, just because it doesn’t move immediately into a profit. They worry about commissions. They worry that the trade will turn around and go their way in a few more seconds and they’ll lose opportunity. In fact most of the people reading this right now will try it for a few minutes (hopefully on a trading simulator) and decide it can’t be done.

Like I said, my techniques and day trading tips fly in the face of the untrained “gut feeling.” And that’s precisely why they work. Exiting my way is not the whole picture when it comes to the method I use fo
r
day trading support and resistance.

Any complex process has to be broken down into small chunks at first, a person has to learn one thing at a time, especially when you want to learn day trading.

First I teach my traders a way to
demand that the trade goes profitable immediately. When it doesn’t, I teach them to get out immediately.

Radical, but it works.


My
day trading advice for them is don’t wait for the market to prove you wrong, instead, if the market doesn’t immediately prove you right, run for the exits.

Example: Let’s say you enter a day trade. In the first 5 seconds it goes 3 or 4 ticks against you.

What is your course of action?

a. Give it a chance, don’t waste the commission.

b. Sit and hope that it turns around before it hits your stop.

c. “Knowing” your entry was excellent, sit tight and / or move your hard stop away.

d. Add to the position (scale in) to bring your break-even point closer.

e. Get out of the position NOW!!! Don’t think about it, just get out.

Believe it or not, “e” is the right answer in my book. You have to be flexible with everything, but this is the foundation of my trading style. This is the default procedure.

Does it work?... YES it works! This is how I’ve been day trading for the past 30 + years. But it only works IF you know where and when to enter.

Let me show you how it’s done! S
ubscribe to my RBI Updates and see how my support and resistance levels and market analysis will help your trading...No matter what method you’re using. Want more day trading tips that work ? Put my experience to work for you! 
SIGN UP NOW AND GET STARTED!

 

There’s never been a better opportunity to turn the corner and become a consistent trader.


For a complimentary copy of my Trading Tutorial, "Basic Guide to Support and Resistance Trading", and also the Audio and Transcript of my 3 hour Trading Teleseminar, please go to the link below. These are a gift to you, no strings attached!

CLICK HERE FOR DOWNLOAD PAGE

Good Trading,
Mike Reed
TradeStalker.com

Mike Reed is author of TradeStalker's RBI Trader's Updates.Mike began trading the Market in 1982. When he got his start as a trader, Mike was plotting prices on paper tape as the internet had not yet been "born" as we know it today. Years of experience have really given him a feel for the Market action. His support and resistance numbers have been published on the internet since 1996. He has a wide readership that includes day traders, floor traders, locals and hedge fund managers. His nightly trading plan, along with his support and resistance zones are specific and accurate. He offers an unlimited free trial of his nightly TradeStalker RBI Trader's Updates.- Copyright 2015 Mike Reed and TradeStalker.com

 

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TradeStalker.com, Investment Advisory Service, Fort Wayne, IN

 

 


Disclaimer:
The financial markets are risky. Investing is risky. Past performance does not guarantee future performance. The foregoing has been prepared solely for informational purposes and is not a solicitation, or an offer to buy or sell any security. Opinions are based on historical research and data believed reliable, but there is no guarantee that future results will be profitable.

We are not advocating trading futures. The prices and contracts in the TradeStalker's RBI Updates specify a manner in which you could trade. We occasionally mention the SP500 and Nasdaq futures markets because it is extremely liquid and tends to lead the other markets. This is not an endorsement or recommendation of the SP500 and Nasdaq futures markets. The risk of loss in futures is substantial. You can lose more than your original investment. We are not Registered Investment Advisors or Commodity Trading Advisors.


 

 

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