Saturday, February 22, 2014

11 Core Traits of Winning Traders

Want to know if you will be successful even before you dive too deep into the world of trading and spend too much time in front of your computer? The successful trader is wired very differently than the unsuccessful trader.
First of all, we need to define what a successful trader is so we are on the same page. Let's consider a successful trader someone who is active in the markets (five or more trades a month) and makes a consistent, low-risk living over a multi-year period of time.
The successful trader understands that moves in the markets are a result of mass psychology and pure supply and demand. We make money in the markets by being masters of that human psychology and supply and demand. (more)

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Andrew Maguire – China’s Gold Buying “Enormous” Right Now / February 21, 2014
With gold getting a weekly close above the important $1,320 level, today London metals trader Andrew Maguire told King World News that despite rumors to the contrary, China’s gold buying is “enormous” right now.  Below is what Maguire had to say in Part I of a timely and powerful series of interviews that will be released today.
Eric King:  “What kind of tonnage have we been seeing taken out of the gold market by China and others?”
Maguire:  “Eric, it’s enormous.  People were saying, ‘Once we get to $1,300 they (China) are going to back off.’  They have not backed off.  In fact, it (their physical gold buying) has accelerated….
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Dead Banksters: A Sign That We Are Close To The END — “V” The Guerrilla Economist

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Dennis Gartman Part II: Natural Gas Could Easily Spike To $10 With Producers Unable To Hedge

Second part of Gartman interview focuses on the energy markets.

Read Part I of the interview, “Dennis Gartman Says He’s Bullish On Gold As Miners Curtail Production.”

HardAssetsInvestor: What's your view on the recent surge in natural gas above $5/mmbtu?

Dennis Gartman: There's two things problematic with the natural gas market. But first, let's applaud the advent and the burgeoning of fracking here in North America. It is making the United States energy-independent faster than anybody might have ever dreamt. It is one of the great benefits to our country, and it will be benefiting us for decades into the future.  (more)

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Rick Rule & Doug Casey Say Miners Extremely Cheap Right Now

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S&P 500 Snapshot: Going Nowhere

Click to view The holiday shortened week was a zigzagging path to nowhere. The intra-week range for the S&P 500 was a relatively small 1.26%, with most of the volatility surrounding the FOMC and especially the release on Wednesday of the FOMC minutes. Today’s close was 0.19% below last Friday’s close.

The yield on the 10-year note closed at 2.73%, down 2 bps from last Friday’s close. The interim high was 3.04% at the end of 2013.
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Man Who Executed QE1 For Fed Says Stocks May Collapse 30% / February 21, 2014
In the aftermath of the recent chaos and market turmoil in emerging markets, today King World News spoke with the man the Fed called on to execute QE1 and who also set up the Fed’s massive trading room, former Fed member and former Managing Director at Morgan Stanley, Andrew Huszar.  What he had to say will stun KWN readers around the world.  He warned stocks may collapse 30% or more in a matter of months if the Fed continues on the current course, and he also said that the Fed is now running the largest hedge fund in the world and it may end in disaster.  Below is what Huszard had to say in Part I of this remarkable interview.
Eric King:  “Andrew, what made you come out publicly and say that QE was a failure and apologize to everybody?  What made you come out and do that?”
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