Your Trading Tools
There’s one tool that’s not on that list that I consider to be the most important trading tool...
My name is Ed Phelps. I am not a professional trader. I’m a guy who decided to trade part-time to make money and grow my savings. I have had success trading, and this blog is my way of sharing how I trade with anyone else who is interested.
To share how I trade with others. I started trading to grow my savings. I find trading to be the best way to make money part-time. A few friends asked me to show them how I trade. This blog is my way of showing them and anyone else who’s interested.
Subscribe if you want to learn about my trading system that I developed so I could make money and grow my savings trading part-time. Part-time means less than 1 hour a day. Each subscription tells me someone finds my trading journey to be interesting.
I took my time and practiced making paper trades for a couple of weeks before I started Live trading. I traded for almost 3 years unsuccessfully, took a break for 2 years, then started trading again successfully 2 years ago.
I focused on harnesing positive energy; I opened a Brokerage account so I could trade options; I setup a trading app (I use ThinkorSwim); I deposited some money to trade with (I started with $1,000).
My intent is to share how I trade. My method and perspective. The ups and the downs (...all trades do not go as planned). What you do with, or get from, the stories and information I share is entirely personal to you.
There’s one tool that’s not on that list that I consider to be the most important trading tool...
This is the third issue in my “Get Started Trading” series. | A trading system is a set of rules you follow that help you see buy and sell signals in the market based upon technical indicators. My Trading System allows me to trade in a way that fits my chosen lifestyle and trading goals...
I believed Nvidia (NVDA) would beat estimates by a lot when it reported earnings back on August 28th. It did beat estimates, but not by a lot. As a result the stock price has fallen. As I write this the stock closed at $119.24 in after hours trading on
This is the second issue in my “Get Started Trading” series. | After getting setup to trade, I think the most important thing a trader must have is a “Trading Mindset.” Why? Because the mindset needed for successful trading is not logical or intuitive...
Just now this morning I filled a Buy-to-Close order for a Nvidia (NVDA) | Aug 16 | 110/115 | Spread I sold for $123 ($1.23) back in July. Bought it to close today for $15 (15¢). That’s a $108 profit. WhooHoo!!! Looking forward to closing my September NVDA options at
Nvidia (NVDA) is up 5.68% this morning, at $114.70. Apple (AAPL) is up 3.64% at $221.15. And just like that my September Nvidia options are looking good. I have a September 19 | $110/$115 | Qty: 2 | Short Put Spread I sold earlier. And my riskiest exposure
I have these two trades set to expire on April 19th. Here’s how they are doing...
Trading is a form of investment. Investing is a long-term game that takes time, and the benefits of investing compound over time. This is called compound growth...
Here are three things to do every time you place a trade, before you click to execute a trade.