Most traders don’t realize the huge mistake they make when beginning their trading career. There are several elements to the mental trap that people get caught in when they begin trading that sets them on the wrong course, but one particular error is the one that makes for imminent account blow out, or at least a rather long and painful road in becoming a successful trader.

Luckily, although this situation is one that is hard to see coming and very understandable that it is made, there is a direct and rather simple solution to the issue.

The core of trading is definitely within the ability of most to grasp, however trading as an occupation does have a significant body of knowledge to absorb and specific skills that are required to trade profitably and consistently. In addition to the fact that most traders are of smarter than average,this makes …

After clearing the bogey at S&P 1405 at last in the previous week, the index has now pulled back to that level and for now bounced off it... hence old "resistance" now becomes new "support". It will be interesting to see if this holds but I expect it to do so for now. Some other thoughts As I've said in the weekly round up, the "strong dollar" fantasies have usually lasted 5-10 days or so... it was nearing midnight. With crude north of $120 and the dollar returning to its rightful place as the junk of the world, we might be done already. This happens like clockwork now almost every 6-8 weeks. As I wrote in detail last week, the fundamental issues facing our country do not allow for a stronger dollar... we continue massive deficit spending and we print money like mad to solve our problems. ...