Day Trading Success

Hello traders, Andrew is away so Norm is writing this email to you! I hope everyone has had a good week so far! We welcomed Carlos back to the Pre-Market Show on Tuesday after some well-deserved rest and time with his newborn son and wife. Despite the predictable lack of sleep, he returned to action as if he wasn’t away for a single minute. A HUGE thank you to Peter for working with me on the show while Carlos was away. Andrew has been trading from the road this week, while training in Iceland for a trail running race. He’s traded the open...

Hello Traders, I hope everyone’s week is off to a good start. We just had our second biggest meetup ever (after our September 2019 New York City meetup with Dr. Brett Steenbarger). This time we were in beautiful Clearwater Beach, Florida. Over 60 traders, many accompanied by their families, joined us for an evening of socializing and getting to know each other! We had traders traveling from Washington State, Montana, Texas, North Carolina, South Carolina, and Georgia to attend this event. It was an impressive group of traders having great times together! You can see some of the photos here! We...

Dear traders, We have some great news for everyone. Yesterday we launched a new and important service to our community called the Benzinga Squawk Box. Squawk Box is a breaking news and analysis voice service provided by our great friends at Benzinga. It provides commentary on individual stocks as well as the overall market, and that valuable information can often result in actionable trade ideas. This is an excellent product for those who trade all day. You can find this service by clicking the Benzinga icon and then activating it in our Breaking News Tab (as shown below): This service is a...

Hello traders, As you may recall, I am in China right now, experiencing one of the most incredible mountain races in the world: the Four Sisters Ultra on Mt. Siguniang. Mt. Siguniang, in Sichuan Province, is the highest mountain in Western China. This area is known as the "Chinese Alps", and I can confirm there is some beautiful scenery here, including alpine meadows and murmuring streams. I participated in the 35km race and finished it in 7 hours and 40 minutes. The race was (obviously!) 35 km (22 miles) in length, at high elevations of around 4,600 m (15,000 ft), with an...

Hello traders, Two weeks ago, I received an email that made me very emotional. I’ve inserted the trader’s email below for you to read, and then, please read my comments which follow to see why this was so important to me: "Hi Andrew, I originally wrote you in November 2018. Just thought I would write you again to say thanks for creating an excellent resource. Due to my trouble typing, and difficulty using dictation software in the chat, I usually don't post. But I am there every morning, looking at the scanner. Your book and website have helped me to become a...

The Chair of the Federal Reserve, Jerome Powell, spoke today at the AGM of the National Association for Business Economics. Unfortunately, he did not have much good news to share. He advised that the Feds “view the economy as being strong but susceptible to shocks, particularly from a global slowdown, trade and geopolitics like a potentially messy Brexit.” The market did not like that attitude one bit and SPY (the ETF that generally shows market direction) sold off about 1.5%. According to the technical charts, SPY may very well sell off even more toward its 200 simple moving average on its...

The Chair of the Federal Reserve, Jerome Powell, spoke today at the AGM of the National Association for Business Economics. Unfortunately, he did not have much good news to share. He advised that the Feds "view the economy as being strong but susceptible to shocks, particularly from a global slowdown, trade and geopolitics like a potentially messy Brexit." The market did not like that attitude one bit and SPY (the ETF that generally shows market direction) sold off about 1.5%. According to the technical charts, SPY may very well sell off even more toward its 200 simple moving average on its...

Hello everyone, I hope that thus far you all are having a good trading week. I unfortunately did trade a bit recklessly but, overall, I am keeping myself in check. We had a great time on Saturday in NYC with traders from all over the place joining us. From Canada, as well as from Florida, California, Texas, and many other states, our members gathered together for an evening of laughs, drinks, food, and some words of wisdom from Dr. Brett, and not in that particular order. Dr. Brett gave an inspiring talk on the best practices to follow when it comes to trading...

Wow, what a day yesterday was! First, at 10:10 am ET, Bloomberg disclosed that based on "five people familiar with the matter", a limited trade deal with China would soon be announced by the White House. SPY skyrocketed to make a new all-time high! And then, at 10:50 am, the White House denied the report and SPY took a dive. Nevertheless, investors seemed to be in an optimistic mood because SPY did make a new all-time high! What a yoyo on SPY today! How can we capitalize on these big moves on SPY? I think trading TVIX is more capital efficient....

ETF - Exchange-Traded Fund - Represents a stake in the underlying commodity, holds the assets it tracks. ETN - Exchange-Traded Note - Structured product that is issued as senior-debt notes (debt that possesses the highest priority if the company goes bankrupt). Inverse ETF/ETN - Designed to return the exact opposite performance of the underlying index/benchmark (in percentage gains/losses). Leveraged ETF/ETN - Designed to use financial derivatives and/or debt to amplify returns of the underlying index/benchmark (in percentage gains/losses). Usually provides a ratio of leverage against the underlying (1.5x, 2x, 3x, etc.). This can be thought of as an amplification of beta against the respective...