Identifying & Exiting
The majority of traders are looking for entries with a very high probability
of success. Web sites and book stores are loaded with day trading advice to
fill this “need.” Some of it’s pretty good entry advice. A lot of it is
average, which is actually not a good thing. But good or average, if they
are leading you to believe that “If you can find better entries, you’d be
making money.” Than this is poor day trading advice, it’s a lie and they are
taking your money and they are taking you for a ride.
Well, it’s time to stop believing the lie. Stop paying for “sure thing”
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.
day trading futures for
30 years and I’ve developed a
strategy that makes money consistently. I don’t promise overnight success,
anyone who is really serious about wanting to
learn day trading,
that it’s not a get rich quick profession. Yes, my method does include great
entries, but most losing traders have decent entry strategies. My
experienced day trading advice doesn’t focus as much on entries as it does
Offense doesn’t win this ballgame, defense does!
If you’re going to make it
day trading the stock market,
and actually be
successful at it, you must understand why this is, and then you’ll program
your reflexes to follow your knowledge.
Think of it this way…large corporations spend millions of dollars inventing
boatloads of products that are worthless. But in the early stages of
research and development, the company can’t tell which products will make
money. If they take all their new products to market, and only a few sell,
the few won’t offset the losers, and the company will go under.
Most new companies (about 95% by some estimates) fail. The same is true of
traders, they want to be successful, but just don’t know how to go about it,
which day trading advice should they believe, and who’s just trying to take
their money .
But there is an upside to all of this, successful companies know a secret.
They find a way to identify their losers in the early stages… and close the
projects down quickly before losing a lot of money in the marketing process.
As James Surowiecki puts it in his book, “The Wisdom of Crowds”
“…companies place huge bets on losers all the time. What makes a system
successful is its ability to recognize losers and kill them quickly.”
The same is true of
stock trading strategies.
traders place bets on losers all the time, but they know how to identify
losers and kill them quickly before much (if any) money is lost.
I close bad trades well before my hard stops are hit, but anyone can do
that. But, you also have to recognize your losers early. Otherwise you’ll be
killing your good trades along with the bad ones.
Every successful trader I’ve met has a way of getting out early on bad
trades. If you are
day trading support and resistance,
I can teach you how I do it. You may be able to find a way to do it on your
own, but it will probably take years. I’ve been trading for more than 30 years, and
publishing my day trading advice on the internet since 1996.
No matter which route you take,
identifying and exiting losers is the key to
I can give you day trading advice and specific
trading tips to improve your
entries. My strategies are time tested and I have been successful with my
methods of trading for over two decades. What’s even better, I can show you
intra-bar timing of your entries. And it’s true that the timing of entries
affects your ability to recognize the losers before they hurt you.
your ability to kill those losers quickly that really counts.
Be sure to sign up for my Free delayed RBI Updates before you leave our web
site. Follow these for a few days, and you’ll understand how helpful my
trading advice can be to your trading.
Or if you want to jump into a winning strategy right now, go ahead and
“Real Time” Daily RBI Trader’s Updates, they are delivered
each trading day complete with the most accurate and powerful support and
resistance areas in the business, as well as
my own daily trading plan and
how I am going to trade the market the following day.
I also teach a trading class from time to time that gives my
high-probability, low-risk setups and, more importantly, shows how to get
out of losers early. Please contact us for additional details if you are
interested in reserving a seat at my next
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.