The New York time between 3:00 PM EST to 7:00 PM EST is best suited for scalping with the counter trend strategy. Off hours between 3:00 PM and 7:00 PM EST is when all the world banks are closed. The U.S. banks are closing their doors and the Asian banks have not yet opened. This is a great time to scalp the market using a counter-trend strategy, because no larger banks are moving money (i.e. the markets) at that time. Just as with the London close, there is no set way in which the New York afte

The following comment by Joe Weisenthal via Twitter got us thinking about just who is the “smart money” these days. With the junk bonds rallying, you don’t hear as much about how “smart” the bond market is, and how it leads stocks. The point that Weisenthal is making is that the bond market is only “smarter” when it fits the bear case. When it fits the bull case, as it does now, the bears are silent. It is often the case that analysts only cite data that fits their case, i.e.

As a trader you will need to develop your own trading system. You need to test your trading system overtime. Why you need a trading system? You need a trading system to make sure that your trading decisions are not arbitrary and based on your whims or emotions. A trading system will make your trading almost mechanical and emotion free. When selecting a trading system, first try to paper trade it. You need to paper trade your trading system to get the bugs out. Paper trading is not a substitute f

#10 – I hate the US Government for using tax payer money to bail out financial institutions (Sept 2008). The only time a bail out or influx of money into capitals markets is appropriate and reasonable would be after a huge drop in the stock market occurred (this happened) and then an immediate freeze on the markets (this did not happen) so that the people/institutions that actually lost the money could be reimbursed and to keep other institutions from purchasing collapsed financial products and