5 Simple Things All Wealthy Traders Do To Gain An Edge

Over the past year I’ve spoken to hundreds of traders, many of which were recorded and posted at TraderInterviews.com.  If you had asked me a few years ago how the best traders approached the markets, I would have said that they all had similar strategies.  But after talking with traders of every market imaginable, I’ve found they all have very different methods.

However, while they each may use wildly different techniques (I spoke with one very wealthy trader who confirmed his chart patterns by looking at planetary movement and moon phases), all of them follow five rules without exception.   Some of…

Stocks Once Again Turn Lower After Seeing Initial Strength – U.S. Commentary

(RTTNews) – For the third consecutive day, stocks have shown a notable move to the downside over the course of morning trading on Friday after failing to sustain an initial upward move. The major averages have all pulled back well off their highs for the session.

The initial strength in the markets came as traders reacted to the release of a Labor Department report showing a much smaller than expected decrease in employment in the month of April.

The report showed that non-farm payroll employment fell by 539,000 jobs in April following a revised decrease of 699,000 jobs in March.…

How to effectively use stops to lock in profits (new video)

This little trading tip can and will make a difference in your trading results in 2009.

Stops are enormously important part of a traders arsenal of trading tools. Some traders confirm that stops are the most important part of their trading armour.

So here are three ways to use stops to protect your capital and lock in profits from a trade. These three money management techniques can be used in stock, futures and forex trading.

The important rule is that you do use a real stop in the marketplace. A friend of mine joked with me that that he had never seen a…

Obama: Catastrophe Coming If Congress Doesn’t Act

By ANDREW TAYLOR
Associated Press Writer

(AP:WASHINGTON) President Barack Obama said Wednesday the recession will turn into "a catastrophe" if the economic stimulus is not passed quickly, lobbying anew for the plan as its price tag climbed above $900 billion and drew more criticism.

The president rejected several complaints about the plan, including arguments that tax cuts alone would solve the problem or that longer-term goals such as energy independence and health care reform should wait. Obama opposed such piecemeal approaches.

Instead, he argued that recalcitrant lawmakers need to get behind him, saying the American people embraced his ideas when they elected him president in…

Microsoft to slash 5,000 jobs, misses on 2Q profit

(AP:REDMOND, Wash.) Microsoft Corp. said Thursday it is cutting 5,000 jobs over the next 18 months, a sign of how badly even the biggest and richest companies are being stung by the recession.

The layoffs appear to be a first for Microsoft, which was founded in 1975, aside from relatively limited staff cuts the software company made after acquiring companies.

The company announced the cuts as it reported an 11 percent drop in second-quarter profit, which fell short of Wall Street’s expectations. Microsoft shares plunged 7 percent in morning trading.

Microsoft said it was being hurt by deteriorating global economic conditions and lower…