Nov 4th, 2009 Precious Metals ETF have gone wild the past 2 weeks. Last week we saw gold and silver prices drop sharply as it shook out short term trader’s stop orders before breaking out and moving higher. Also there is a disconnect between the gold and the dollar. Energy commodities like natural gas and crude [...]

As many of you know we here at INO are huge Norman Hallett fans. He’s been a featured guest blogger here many times (see previous posts) and today I asked him to give us an exclusive preview to his new book, “Taming Risk - A trader’s guide”.  His post below covers Systemic Risk and the VIX. This information is extremely helpful so be sure and read on! Also for the next day or two only, he’s allowing complimentary downloads of the complete book. I have read the ebook (2 days ago actually) and I can honestly say you WILL learn something that you didn’t know before about risk and money management. So enjoy Norman’s kindness and enjoy the special INO members only message where you can download the full book! Oh yeah comment…he wants to hear from you.

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Good Morning Trader’s Blog readers!

Sentiment is emotion.

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If you have been reading this blog for a while you know that THE CROSSHAIRS TRADER promotes simplicity.  Am I alone in thinking this way?  I do not believe so!  I would hazard to guess that most all, if not all, professional traders believe that successful trading boils down to having and following a very simple set of rules. 

Here is a very short list of comments from very reliable sources—successful professional traders.

 

John F. Carter:  “It is important to remember that there is no need to spend wasted years looking for complicated setups or the next Holy Grail.  There are very simple setups out there to use.  Some of the best traders I know

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By Jeffrey Kennedy

Close to ninety percent of all traders lose money. The remaining ten percent somehow manage to either break even or even turn a profit – and more importantly, do it consistently. How do they do that?

That’s an age-old question. While there is no magic formula, one of Elliott Wave International’s senior instructors Jeffrey Kennedy has identified five fundamental flaws that, in his opinion, stop most traders from being consistently successful. We don’t claim to have found The Holy Grail of trading here, but sometimes a single idea can change a person’s life. Maybe you’ll find one in Jeffrey’s take on trading? We sincerely hope so.

The following is an excerpt from Jeffrey Kennedy’s Trader’s Classroom Collection. For a limited time, Elliott Wave International is offering Jeffrey Kennedy’s report, How to Use Bar Patterns to Spot Trade Setups, free.

Why Do Traders Lose?

If you’ve been trading for a long time, …