What is price action?

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Technology has changed and continues to change the financial world in so many positive ways-- from helping the little guy with small account to access any exchange to buy and sell stocks, futures and commodities anywhere in the world at a steep discount commissions to giving us the all the tools everyone needs to trade like the pros with instant access to news, charts, indicators, charting tools. Information overload is the norm for the average trader where every piece of knowledge...

by James Lee

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It seems like each day there is another complicated trading system in development. I am quite surprised to see the trading population dig into more complex methods combining various indicators to profit from the financial markets. How many confirmations does one need? By the time all your indicators confirm a buy or sell signal, your entry point is towards the end of the price swing. K.I.S.S. Keep it simple stupid! Simple methodologies have been proven to work in the financial...

by James Lee

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What is a TICK? A TICK is the number of NYSE upticking stocks vs downticking stocks. If 1000 stocks are upticking and 600 stocks are downticking you will get a TICK reading of + 400. The TICK is a useful market internal tool to gauge market sentiment, design trading strategies, to prevent one from chasing, etc... Traders use the TICK in various ways: some choose to fade TICK extremes, others use it to confirm market direction, and others incorporate the TICK into...

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There are a few software packages that have built in functions for avid Fibonacci users. The Fibonacci Trader and Miner’s Dynamic Trader are two packages that I have seen demonstrated. These packages assist the user in analyzing and projecting price and time targets using Fibonacci retracement or extension ratios, and time cycles. The user is able to break the analysis down to almost any intraday time period. This article is to help traders learn how to project...

by Linda Bradford Raschke

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Time Tested Classic Trading Rules for the Modern Trader to Live By by Linda Bradford Raschke This is a list of classic trading rules that was given to me while on the trading floor in 1984. A senior trader collected these rules from classic trading literature throughout the twentieth century. They obviously withstand the age-old test of time. I'm sure most everybody knows these truisms in their hearts, but this list is nicely edited and makes a good read. Plan...

Its effect on the SPX - by William Wheeler

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Option Week Effect on the SPX Have you ever found yourself caught in a contra trend day trade that didn’t work regardless of the logic? Be honest. It has happened to me, but I am getting better as to when I take them. About six months ago, I read an article by a seasoned professional trader who mentioned he would not take contrarian trades during option expiration week. So I decided to figure out what effect expiration week had on the SPX. I went back to...