Author Archive for Jeff White

Are You Developing Your Trading Strategy?

July 13, 2009 at 9:51 am

One huge benefit I have of running the premium site over at TheStockBandit.com is the opportunity to interact with many traders on an ongoing basis.

As a trader, I’m thankful for the chance to keep the dialogue going with others, discussing trading strategies and current conditions with traders all over the world. No two of us are exactly alike, but we have plenty of common ground to stand on as traders.

I usually have quite a few email conversations going with members of the site, and one from this week was worth revisiting.

There are a few elements from it that I’d like to share, so I’ll break it down into a couple of pieces.

This particular trader (named Lisa) described herself this way:

“I am still in my development phase of trying to find my niche, as to where I fit in this big world of trading.”

She’s right – there are many ways to skin the market cat, and many developing traders never quite are able to determine which one is right for them.

I think a big key here is to be decisive.  Rather than staying on the fence between numerous styles of trading, it can be very rewarding to select one which is appropriate for your situation starting out.  Seek out some possibilities, pick one, and start to develop it.

After describing a couple of specific strategies she’s trading right now, she went on to make the following comments:

I am becoming a much more diciplined trader. I think I am coming along with my own style and my own thinking, and it is truly a process. I know enough to keep myself above water, but I am fine tuning my technique.

Awesome!  Discipline is always a good thing, and learning to think for yourself is an absolute must.  I have no problem assisting traders however possible, but the aim is to get them to the point to where they do not need to rely on me.

It’s very satisfying to become self-sufficient as a trader.  If you aren’t aiming for that, what’s holding you back?

Also, it’s important to remember that our development as traders is indeed a process.  That means some patience will be required, and we’ll need to make some adjustments along the way as we move down the road to success.

Lisa’s doing a great job of developing her trading strategy.  She’s identifying her ideal opportunities, and staying away from those which have not proven fruitful for her.  Are you doing the same?

Thanks for stopping by and I’ll see you here soon with more. Until then…

Trade Like a Bandit!

Jeff White

President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

Video Review of the Indexes 7-12-2009

July 12, 2009 at 8:57 pm

With a brand new week of trading here, it’s time to examine the major market averages and check out some key levels to watch for the coming days.

This clip was also posted over on the Trading Videos site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.

Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.

Thanks for stopping by and I’ll see you here soon with more. Until then…

Trade Like a Bandit!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

One Way to Review Your Trades

July 9, 2009 at 4:47 pm

If you’re at all like me, every now and then certain aspects of your trading will stand out as having changed.  Sometimes that’s for the better, other times for the worse.

While it’s fun to see improvement over time, one key to trading success is the ability to modify one’s approach periodically in order to stay on track.

I think of it like that statistic you’ve heard about how much of the time an airplane is just a little off course when in flight, with the pilot constantly putting it back on line toward its destination.

As traders, we have the same responsibility.  We maintain our direction by reviewing (mentally or physically) how we’re doing, and then by making the necessary adjustments.

Well, last night I recognized that one particular strategy which I happen to trade has been off a little lately.

So what did I do?

I got up early this morning (that’s part of preparation) and spent some time going over some of my historical trades when this strategy was really on, and I compared what I found there to how I’ve been trading this strategy lately.  It was an eye-opening exercise, and so far, a profitable one.

This same clip is posted over on the Trading Videos site and perhaps you’ve seen it there, but in case you didn’t, I wanted to put it here on the blog.

Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.

Thanks for stopping by and I’ll see you here soon with more. Until then…

Trade Like a Bandit!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

Halftime Honesty

July 1, 2009 at 8:23 am

The year is halfway over, and I hope you’re exceeding your expectations for 2009 thus far.

With an extended holiday weekend approaching, it’s the perfect time to pause and reflect on not only your performance, but also your process.

So let’s head to the proverbial locker room and examine how the first half has played out.  Doing so will enable us to properly prepare for the 2nd half and finish strong the way every winner should.

First 6: Something for Everyone

2009 has been an interesting year already.  January began with some real promise as the market sprinted higher for a whopping 3 days before turning south and stomping on the gas.  We headed lower into mid-March, when a meaningful upside reversal brought about significant gains – and virtually in a straight line for some 9 weeks before pausing.  Since then, we’ve climbed incrementally higher, and currently stand somewhat range-bound with traders waiting for momentum to return.

That means that to date, we’ve had several kinds of price action with the market throwing the kitchen sink at traders.  Downtrends, reversals, rip-roaring rallies, and even a few trading ranges have been seen.

The way I see it, that’s a little something for everyone.  Including you.  So if I were to ask you how you’d grade your performance during your favorite stretch, what would you say?

And more importantly, where do you see room for improvement?

Right now’s the time when brutal honesty can bring big benefits – if you’re brave enough to bear it.  Sure it’s more fun to reminisce about the best trades we’ve made, but the failed trades and the missed opportunities hold within them perhaps the greatest promise – the chance to learn and apply, and with it, the chance to rise above our previous best.

I don’t know about you, but that fires me up.

I’m always looking to gain an edge, and I love working toward continual improvement.  Growth and sharpened skills do much more than pay the bills – they motivate and reward me.  The thought of getting better gives me some momentum, particularly in my mindset.  Trading is such a mind game that having an edge there means more to the bottom line – which is nice, because I do not like to lose.

New Year’s is Coming

Here in Texas right now, we’re seeing triple digit temps daily and it’s quickly becoming the Great Yard Bake of 2009 with the heat wave we’re in.  Summer is in full swing, but you know what?  Winter will come.

When you stop to think about December 31st, it probably seems forever away.  But put yourself there mentally for a moment, and think about how you want your 2009 to finish.

Will the halftime checkup prove to be a turning point for you, or will you have squandered an opportunity to grow in the 2nd half?

My hope is that the former will be true for you.  Right now, you might be fed up with the current trading ranges and lack of momentum.  You might hate the summer doldrums and just want a break from it all.  And truthfully, now’s not a bad time for that if so (I just spent 10 days in the Caribbean).

But if you’re driven to grow and improve and make this the year you actually make some real strides – both in your account and in your mindset, then right now is the perfect opportunity to pause and pay attention to your process.

Spend some time crunching the numbers.  Put in a few hours to review – truly review – your trades from the first half, and be honest and see what you learn.  Some of them you nailed…congrats!  But others you knew you should have taken and didn’t.  Find out why.  Some of them you bailed out of too quickly, micromanaging them by undermining your original plan.  Figure out what happened.  And yes, a few of them you got blindsided by.  It happens, but really do your best to determine whether the fault was your own and something you can avoid in the future.

The Moment of Truth

Here’s the thing… the future arrives daily, and either you’re prepared for it or you aren’t.  Either you want success bad enough to find it, or you’re satisfied enough with mediocrity to keep enduring it.

Get honest with yourself, and before you head out for the 2nd half, decide how you want to feel the next time you walk off the field.  The first half is over, and only you can determine what happens in the 2nd half.  Get clear on what you want.

I want to win.

Trade Like a Bandit!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

How I Maintain Multiple Watch Lists

June 18, 2009 at 7:21 pm

I’ve been known to periodically emphasize the importance of watch list management and maintaining quality watch lists, but it’s time I show you exactly how to go about doing that. This is absolutely essential to staying sharp as a trader, because it avoids one of the primary pitfalls of today’s trader – indecision.

Perhaps you’ve been there before.  The market shifts from not doing anything to suddenly gaining momentum, leaving you with zero positions on.  Quickly, the fear suddenly strikes you that you’re getting left behind.

Yes, the summertime can be known for that, but it can happen anytime.  And it’s quite irritating to get caught feeling flat footed when the market bolts.

My Solution

I kept feeling like I needed a way to manage my favorite setups, but I didn’t quite know the best way to accomplish it.  I’ve maintained bullish and bearish watch lists for years, but they were always separated and it was tedious to add and remove stocks to the respective list.

If you’re anything like me, “tedious” diminishes the likelihood of that getting done regularly, because let’s face it – we’re all pressed for time these days.

Well, thanks to the folks at Worden who made this possible, StockFinder’s Flag Column feature provided the perfect solution.  I set up multiple flag columns tied to new watch lists, and I’ve been absolutely thrilled at what it’s done for me.

With ease, I can now add and subtract stocks from various watch lists with a quick double-click, which means there’s virtually no time involved, and more importantly, I am staying organized.

When the market moves now, I have a go-to list of names for the appropriate scenario that I can immediately turn my attention to.  It’s made a HUGE difference in my decision-making, and it didn’t require that I turn into a super-organized person (that probably wasn’t going to happen!).

Show & Tell

Instead of writing a 2000 word essay on how to do this, I’ve created a quick tutorial to show you how to build a layout exactly like I use. I posted this same clip over on the Trading Videos site and perhaps you’ve seen it there, but in case you didn’t, I wanted to put it here on the blog.

Let me highly suggest viewing the HD version and going full-screen. You’ll want to see the detail.

Oh and if you aren’t already using this software, you can give it a try for 30 days free.  I use it every day and can’t imagine trading without it, so I can’t endorse it highly enough.

Here’s the link to download the 30 day trial – I’m guessing you’ll keep it like I did!

Thanks for stopping by and I’ll see you here soon with more.  Until then…

Trade Like a Bandit!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

Trading Webinar Archive Now Available

June 11, 2009 at 7:04 am

Thanks to those of you who were able to make it on Tuesday for the webinar, I really enjoyed it and the turnout was great. Hopefully you learned a lot during our time together, as well as added quite a few stocks to your radar for possible plays going forward.

Many of you have mentioned though that you were unable to attend for various reasons, so I wanted to be sure to let you know that the archived recording is now available.

Here is the link to the recorded webinar.
(Right-click the link, ‘Save Link or Target As’ to desktop)

Even viewing this after the fact should still offer some insights on the kinds of setups you can locate with a good charting program, as well as what to watch for when seeking out plays.

Stated otherwise, some of the stocks we looked at during the webinar have already moved, but you’ll find them to be good examples as you continue to hone your charting skills.

Enjoy the show (it runs an hour) and see you back here soon with more!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

Reminder: Webinar Tonight!

June 9, 2009 at 10:50 am

Here’s a quick reminder about tonight’s free trading webinar, as I would love to see you there if possible.

Chart Reading with TheStockBandit

I’m excited to run through a number of interesting chart setups, from both the bullish and bearish sides, in order to teach you some concepts and of course put some quality plays on your radar.

The webinar is scheduled to run 45 minutes, with 15 of those minutes set aside at the end for Q&A and a look at your favorite charts.

Visit this link for registration to the 8pm ET webinar:

Chart Reading with TheStockBandit

See you tonight!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]