The euro continues its wedge-like consolidation. Yen treks lower. Bill Baruch, president and f...
Swing and Daytrading Strategies for All Markets
06/25/2009 12:01 am EST
The strategies that top traders use to make money in the markets aren't complex. Most have found simple ways to spot opportunities and continually exploit those patterns to make money each day. In this episode, we talk with a wealthy trader about how he does exactly that. John Gilner describes to me the exact candlestick patterns he is watching for and how he scales in and out of his positions to get the maximum possible gain.
His straightforward approach is one that any trader can understand and replicate in their own accounts. John uses both short and longer-term timeframes to find stocks that are ready to break through a specific level on volume. John then talks about how he determines his entry points and stop losses, and finally, we conclude by discussing his trading discipline and the two things he thinks made all the difference for him when he was working to gain confidence in his trading abilities. A fantastic look inside the mind of a trader who has achieved a high level of success through hard work and common sense.
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