Trading for the Short Term

One of the best brief descriptions of how to trade for the short term is in this video describing the trading action from Friday at one of our favorite sites, Alphatrends. You can view it here: Alphatrends Blogspot for Friday February 22.

Of course we don't always agree with Brian Shannon's interpretations of the short term chart patterns, but we usually do and always find them useful, and listen with great attention and respect. We find his overall approach, and his coaching remarks in passing, to be very appropriate in particular, and his style is our style for short term trades. No matter how good you think you are, traders are fighting a constant battle in adapting to changing markets and new experience, and the creeping bad habits that can develop into major trading slumps.

Enjoy listening to Brian, and always remember that, once you get past the basics, trading is 90% self discipline and a willingness to subject your ego to learn from the discipline of the markets. Please keep in mind that short term trading, intermediate trading, and investing are very different disciplines, despite their similarities, and each demands its own approach and techniques.