This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

He even does the leg work, and posts it on his twitter page!

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Popular opinion would say to stay away from the 1st hour of trading. I signed up for the UTC, so I could learn how to do it. I could see I was missing opportunites, or worse, losing money. I’m pleased with what I found.

From this post by Dr. Brett, you can plainly see that you have to learn how to trade the opening hour.

Moreover, we can see that essentially all of the market’s upward trend has taken place during the first hour of trading. The first hour has accounted for about 1116 points of gain during 2007; the middle hours have lost about 780 points; and the last hour has gained about 719 points. What that means is that daytraders who sit out the first hour of trading have not, as a whole, benefited from the upward market trend. Indeed, there has been something of a downward trend to the market’s middle hours.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

It only takes a small slip-up to create big negative effects. Conversely, the road to success in many of life’s ventures seems to be more incremental. Think of the engineering behind cars, space shuttles etc. One small error can lead to total disaster, but for everything to work, so many things have to be ‘right’.

Have you checked out the 3500 lately? There isn’t a more introspective trader out there. It’s one of the few blogs that I still read.

The others are Trader’s Narrative, Dr. Brett, Tyro Trader, Dummy Spots, Boogster, and DT. I’m a voyeur, so naturally I gravitate to blogs that post results in terms of real $ (even though I can’t handle that kind of pressure myself!)

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This is the best blog post ever on the subject of trading.

To quote Dr. Brett, “…And I have a feel for bullshit.”

Another notable quote, “…But if you don’t have concrete goals, concrete ways of working on goals, and specific routines to research markets and prepare for the day, you don’t have a passion for trading. You have a passion for making speeches about being passionate.”

And the absolute best quote ever - from the best post ever - “…Mmmmmk. So you have no prior experience or track record, you have $20,000 account, you’ve read some books and attended some seminars, and you’re going to sustain triple digit annual gains against experienced market pros. That’s a great business plan….And you wonder why I don’t take on wing-and-a-prayer traders for coaching. If I have to participate in a delusion to get paid, I’d rather do without the income.”

“You know, trading is a craft. It’s something you hone over time. It’s not a place to act out one’s wildest fantasies or basest fears. If you’re not taking a logical approach to trading success, perhaps your motivations for trading are psycho-logical. That, is the saying goes, is an expensive way to learn hard lessons about yourself.”

There’s no psychobabble going on over there! Love it!

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I won’t attempt to explain this product. See what Dr. Brett has to say, and decide for yourself.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com