Search Results for 'traders'
Find a Way!
Years ago as an aspiring professional golfer, I had a conversation with a veteran (PGA) Tour player. I asked him what he thought some of the differences were between a guy like him and the guys on the next level down. Both might go out and shoot 65 on a given day, but what was the missing ingredient for the guys below the top level? They had plenty of game, but just couldn’t get to the next level. What set him apart?
His response surprised me with how simple it was. He said that a Tour player would almost always find a way. He’d find a way to hit the fairway on the narrowest hole on the course. He’d find a way to grind out a par after a poor shot. He’d find a way. It was about will, about focus, and attitude – not merely gaining distance or accuracy or putting in more practice.
It translates into trading.
Great traders don’t necessarily find better trades than those who struggle. But they do find a way to limit the damage on their poor positions. They find a way to get involved in a move – on some timeframe. They keep learning even though they have plenty of past successes to reminisce about. They have a will about them, a focus, which prevents their mistakes from becoming catastrophes the way a struggling trader might. Their attitude promotes success, not rationalizations for a shrinking account.
Stop accepting excuses for your underperformance. HFT’s are prevalent in today’s markets, find a way to co-habitate with them (pun intended). Elections happen and cause some uncertainty. Terror threats emerge from time to time. Market volume dries up periodically. Find a way in spite of it. Those who are successful always find a way, no matter the conditions.
Trade Like a Bandit!
Jeff White
Subscribe to our Stock Pick Service to get our trades.
What TheStockBandit is About
I don’t make it clear often enough here just what TheStockBandit is all about, so I wanted to take the time in this post to clearly explain.
We have a network of sites which are all dedicated to making better traders.
On the free end, we have the blog here with currently over 700 articles and free videos – with more being added every week. Thanks to those of you who never miss a post – I’ll continue to put out my best even if your readership is as far as this relationship ever goes.
On the paid end though, we have 2 sites with different purposes for those wanting to go deeper…
First is TheStockBanditUniversity.com, which is where you’ll find our video-on-demand trader training courses. There are 2 courses there now (Basic & Advanced), with plans to add more in the future. I personally put the courses together to meet the needs of both newbie traders (Basic Course) and experienced traders (Advanced Course) in order to get them to the next level. All courses come with a money-back guarantee, although over 85% of those who have enrolled in the course never asked for their money back – a statistic we’re proud of which shows the obvious value provided in the course.
Next is TheStockBandit.com, which is our subscription-based membership site where I personally put out a nightly newsletter (often with video) sharing a number of important items. I begin with broad market analysis by discussing the current conditions and pointing out key levels to watch for, then get to individual stocks. I’m highlighting the setups/patterns which are building right now and talking about what it will take for those patterns to confirm, and I’m outlining my personal trading plan for tomorrow’s session by sharing the stocks, levels, and rationale behind every trade. Periodically there are trading lessons shared and special members-only features as well.
Should you happen to continue reading the free blog and enjoying the free videos, then great. I’m here to help you get better, and you should feel zero pressure to do anything further.
However, if the things I’m sharing with you here are connecting with your needs and you’d like to dig in for a deeper market education, then we’d love to help you get started and you’re in the right place. Check out the details on the stock trading courses as well as the stock pick service – both are risk-free and I stand behind them fully.
Thank you for reading, and I’ll of course be back shortly with more good stuff for you, just wanted to be sure you understand our brand and what we stand for since I haven’t made it clear in a while!
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Shifting from Smart to Equipped
One of the things I love about TheStockBandit University is the opportunity to interact with the traders who enroll in the courses. As they’re learning and asking questions, I have the chance to see the light bulb go on when things begin to click for them. It’s very rewarding.
Recently a trader reached out to share his thoughts with me mid-way through the courses, and I just couldn’t help but share it with you here. This is what he wrote:
“I have just finished the “basic” course. I thought I would have a lot of questions, and I would be pestering you with emails along the way, but I have no questions. You answered them all and many besides. Perhaps, you gave me the skills and confidence to answer my own questions. Something happened anyway.
The “basic course” is very comprehensive. I’m excited now. I have gleaned lots of ideas from your presentation to improve my trading plan.
I’ve been to university, I have a degree in medicine. I can’t remember though, ever coming across such an excellent teacher. I suspect your teaching is spawning leaders in the field rather than followers.
On with the Advanced Course now. Can’t wait!
M.P.
That is so cool. This already smart trader is now equipped – and there’s a huge difference. That’s exciting to me, that the work I put into the courses is paying off for this trader. More importantly, his own efforts in the learning process are rewarding him with the ability to be self-directed in the markets. He’s no longer a slave to a single trading style. He no longer needs the market to do something specific in order to find success.
I rarely share testimonials here with you, but this was one I had to pass along for those of you who are on the fence when it comes to taking the next step toward becoming a self-directed, complete trader. Our stock trading courses are risk free – there is zero barrier to kicking the tires. Enroll today and find out for yourself what it’s like to be prepared for whatever the market throws at you.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Follow @TheStockBandit
8 Years!
Today we celebrate 8 years of service, marking another meaningful milestone for us at TheStockBandit.com!
Way back on June 21, 2004 after the encouragement of friends (and friends of friends), I started putting out a nightly report through the website rather than just forwarding an email.
Now 8 years later, we’re still going strong with the stock pick service which includes market analysis, key index levels, stocks to watch, and of course my detailed trading plan. Additionally, we’ve seen our stock trading courses met with great enthusiasm and incredible feedback due to the way they have helped so many traders develop and improve.
There’s no risk to kick the tires on what we offer, plus I’m always available to help subscribers and course students. For those curious about what it is we do, we’d love the chance to show you what we’re all about.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Follow @TheStockBandit
Video Review of the Indexes 5-6-2012
Last week the indexes finished red despite having moved higher earlier in the week. Key levels were approached but the senior indexes were unable to clear them, prompting traders to raise cash.
We caught some nice trades on the week, so in case you missed the recap be sure to check it out.
In preparation for the trading week ahead, let’s examine some important levels to keep an eye on for the indexes. That will have the greatest influence on how individual stocks are going to move, so it’s part of our weekend process.
Selectivity remains the key for new plays, which I’ve been noting for subscribers of our stock pick service.
Be sure to view in HD (720P) and full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Play Like A Pro – WTBR Episode 5
Today, I bring you Episode 5 of When The Bell Rings.
In this episode, we’ll talk about some distinct differences among traders regarding their approaches to trading. It should either give you some added motivation, or a boost in confidence.
I hope you get a lot out of this installment. Keep coming back for more in the days ahead, and of course if you find these helpful, then let me know!
Run time is 3:08.
(Direct video link is here for those interested in embedding it elsewhere to share).
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Follow @TheStockBandit
What Do You Do When You Hit Your Loss Limit?
Over the past 10 days, there have been two occasions where I hit my daily loss limit. Sounds like a tough stretch, but on a net basis it’s actually been positive thanks to some other good days.
Mind you, I’m generally a disciplined trader, and in a dozen years of full-time trading I have broken my discipline countless times but have never truly gone on tilt where it’s account life or death.
That said, I do not have a broker-set cutoff. That’s where you specify a dollar amount, which when hit will lock you out of making more trades. It’s still your account and you could call in and override that I suppose, but it’s at the very least a break in the action for you, and a very good thing for some people – namely, developing traders.
Back to my point and the title of this post, what happens when you hit your daily loss limit?
For me, it’s a general dollar amount where I start to understand that barring some really great trades, and with the amount of risk I am willing to take, I’m unlikely to recover. It’s a matter of recognizing that I’m likely to do more harm than good – either to my account or my confidence.
At times, I’ll hit that level and I just need to admit defeat, shut it down, and come back another day. I might leave my platform open and monitor the market or open positions, but I know I don’t need to press any more buttons. Adhering to that has on many occasions prevented deeper wounds to my account.
Knowing when to walk is found in two things: one internal, one external. Internally, you must understand yourself and your tendencies. Externally, you must be able to recognize current conditions and determine if there’s good reason to continue or not.
Over the past week, however, I had two different outcomes when I chose to trade beyond that mental cutoff.
Exhibit ‘A’
The first was a day where my limit had been reached, but I allowed my emotions to interfere. This was the internal element, and I was in no shape to continue. (That, by the way, also prompted this week’s video.)
I didn’t go on tilt, but I lowered my standards in what was ultimately a mild version of revenge trading. That never pays off, and in this case it cost me a little more. As it should have. I hit my loss limit plus another 1/4, which isn’t a ton but it is too much.
The mistake was that I continued to trade because of my P&L. Catch that? Because of it, not in spite of it.
Exhibit ‘B’
The second occasion was similar in that I reached my mental cutoff, but it was different because it was a day where my emotions were settled.
I continued to trade not out of anger or frustration or ego to prove I was right, but because there were multiple stocks in play which warranted my participation. Conditions were very favorable for making good trades, so I continued.
I was accepting risk beyond a normal cutoff amount, but it was with a level head and with some real potential to turn the day around. And I did. It was rewarding, not in the sense of “I told you so” but simply because I kept taking good trades when they surfaced, added it up in the end, and came out slightly ahead.
It’s nice to dig out a bad day, even if it means you barely do better than break even.
On some days, those are wins.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Follow @TheStockBandit
