WiseMan Trading

  Most traders move from trading system to trading system, and over time, until they find one that suits them… one that is comfortable to run and tests well over (back-tested, then real) time. Some traders never stop looking for the “right” system. THAT is a problem. There are many systems that can generate nice profits over time. To settle on a trading s that’s right for you: First, you have to believe in the process by which the system generates trades. Who was Fibonacci, and how did he arrive at his methodology? Does it make SENSE to YOU? Maybe you’re a visual sort of person and you are drawn to Candlestick charting. Take the time to understand why the patters mean “reversal” and not just accept the “picture”. Go deep. Choose a guru that you will need to trust 100%. If you choose to take your trades from a guru, understand where his or her godliness is coming from. This can be a dangerous choice in that you are giving up control to another. Choose wisely. Second, whatever system...

 How to Trade the Cup and Handle Chart Pattern How to Enter and Exit This Powerful Pattern  Chart patterns occur when the price of an asset moves in a way that resembles a common shape, like a triangle, rectangle, head and shoulders, or in this case a cup and handle. These patterns are a visual way to trade. They provide a logical entry point, a stop-loss location for managing risk, and a price target for exiting a profitable trade. Here's what the cup and handle is, how to trade it, and things to watch for to improve the odds of a profitable trade. 

  You read about the Gurus of trading.   There’s a group of them that started with their last few Thousands and ran it up to millions because of a simple strategy they can teach you.   There’s another group of Gurus that claim hard work, long study and signing up for their newsletter will lead you to where you want to go. All Gurus want you to “learn from their mistakes.” They ask, “Why should you make all the mistakes I’ve made, when you can benefit from my experiences?” Now being somewhat of a Guru myself, I think there IS a certain truth to this query, but not the way you probably think. Other trader’s experiences can make you aware of what to expect as you embark upon your trading. Knowing what to expect should translate into having less “blindside” occurrences. However, when you come across the forewarned learning experience, emotions will come up. These emotional situations (fear, overconfidence, freezing) are up to YOU to handle. (For me or some people ar...

  Michael Buffer swings the microphone up to his mouth and spurts, ”In the blue corner, from Cleveland, Ohio, standing 5 feet 11 inches tall, weighing 215 p the challenger… “Tryon ‘The-Best’ Ican”!”  Buffer continues, “And in the red corner, with a record of 90 wins, all by knockout, with only 10 losses, and heavyweight champion of the world…”Marcus ‘All-Ways’ Wright!”  Now see yourself as Tryon.. cause that’s what you’re doing, tryin’, and of course, the Market is Marcus, because the market’s always right.  Now you have a shot to win . Not a great shot .But A shot  A hundred fighters have faced Marcus and 90% of them have lost .But 10 have won. What did they do to win ?  I didn't see all the fights, but I know I'm accurate when I say that 9 out of 10 of the fighters (if not all ) that beat " All - Ways " Wright , kept a journal between rounds so that they could improve after every round.  They all knew Wright was tough , so they had to make sure ...

  Yesterday, as expected, markets were volatile. Until afternoon, it was trading stable. Then Trump announced that he will go to Supreme Court to stop counting of votes. Immediately Nifty fell 150 points and Bank Nifty fell 600 points. Within minutes, buying came, Bank Nifty shot up 700 points and Nifty 200 points. In the last half an hour, there was some cooling, but both Nifty and Bank Nifty closed in Green. US markets also went for roller coaster ride. US markets were higher. Asian markets are also higher. Yesterday night , Dow Jones closed 650 Points higher. SGX Nifty was around 12170 at that time. Currently Dow Futures are flat. SGX Nifty around 12080. U.S Elections have become a big drama Currently. Results have not come and still counting in underway. Trump was also leading Biden at one point. f that is an indication, it will be huge gap up. Even in US, Nasdaq out performed. So IT index is likely to out perform here. SBI posted good results Yesterday. Finally it seems the wo...

  Traders love to talk about their trading.   It’s much more comfortable for most traders to talk about what COULD BE rather than WHAT IS.  They love to talk about some chart setting up, their view of the political situation surrounding the stock or market…whatever.  We all know that talk is cheap.  Intellectually, we know that the chart says everything we need to know, but as emotional beings, we are always looking for the “insight” or the “intuition” to put us a step ahead of everybody else who are all looking at the same charts we are.  If we don’t have the “ eye to the future ”, maybe a trading friend has it.  Sometimes all you have to do is call up a trading buddy and say, “Hi, how are you today?”  What you’ll get in return will be, “Boy, have you seen the ‘so-and-so’ chart today?  If that breaks the XY level, it’s going to really take off!” He continues, “And with that unstable political situation, this could really be a big trade.” Why...

 Any experienced trader will tell you that being successful is, in large part, a matter of overcoming all the hurdles that get in your way.  Let’s look at a few of them:Now there are two basic types of hurdles:  The physical ones and the mental o and actually, sometimes they get intertwined.