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Wednesday 23 January 2008

The day after panic and AAPL falls

Well, a lot of people that have never traded before are laughing at the video I posted and they don't even know what a futures contract is. However, my video connects with tens of thousands of people that have lost money in the stock market. You have all heard of how 90% of day traders fail, but the truth is a lot of swing traders lose too. As much as I hated reading his post, Bill Rempel made a post in regards to my over leveraged trading blowup and how you should trade with the correct position size for your account and have a plan and an edge. I hated his post so much because he was right, I was over leveraged and I shouldn't have carried a trade that big over the weekend.

My blog has always been about learning how to trade and sharing it with whom ever wanted to read. Dr. Brett Steenbarger from TraderFeed linked me and he is a guy that has always been about helping traders learn and helping them solve the psychological challenges that traders face on a daily basis. I read his book a year ago and it helped me in my trading a lot. Dr. Brett is simply a good guy and I recommend his book to all serious traders.
Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology (Wiley Trading)

Right now I'm looking at AAPL and it looks like a lot of long term investors are going to experience the same type of pain I felt yesterday.

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