JimWyckoff
Jim Wyckoff Jim Wyckoff On the Markets 3221 Cobblestone Ct., Cedar Falls, Iowa 319-277-8643 www.jimwyckoff.comJim Wyckoff (jim@jimwyckoff.com
Jim Wyckoff
is the proprietor of the "Jim Wyckoff on the Markets" analytical,
educational and trading advisory service (www.jimwyckoff.com). He is also
a technical analyst for Dow Jones Newswires and the senior market analyst
with TradingEducation.com. Jim is also a consultant with the highly respected
"Pro Farmer" agricultural advisory service. Jim was also the
head equities analyst at CapitalistEdge.com. He received his degree from
Iowa State University in Ames, Iowa, where he studied journalism and economics.
Jim has spent over 20 years involved with the stock, financial and commodity futures markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he covered every futures market traded in the U.S., at one time or another.
It didn't take Jim long to realize the successful traders in every market-be it pork bellies, Treasury bonds or stock index futures-had a common thread among them: nearly all relied on technical analysis to give them a trading edge.
Not long after he began my career in financial journalism, Jim began studying technical analysis. He found it fascinating. By studying chart patterns and other technical indicators, Jim realized the playing field could be leveled between the "professional insiders" in the markets, and traders like himself. How can this be? This is how: Market (or stock) price activity and price history, including volume, is a composite reflection of every news event and-or other fundamental factor known to all traders. Price activity also factors in ideas and speculation about the future prospects, and future news, for the market (or stock).
If an individual trader tried to study and learn all there is to learn about a stock or a futures market, including knowing all the fundamentals that impact, or could impact the stock or commodity, it would be nearly a full-time job. And even if a trader did spend all his time studying a market or stock, he still would not know as much, as soon, as the professional insiders. This is why successful traders employ technical analysis. Importantly, Jim also spends time studying the fundamentals in markets.
Jim believes traders who have been involved with commodity, financial and stock index futures markets have a trading advantage in today's stock market environment. This is because the more volatile stock market environment of today is just like the volatile commodity and financial futures markets that have been around for many years. Being a successful trader in volatile markets requires specialized entry and exit strategies, in order to maximize profits. Successful futures traders have been forced to deal with volatility on a routine basis.
Following are just a few of Jim's most important trading tenets:
---Like success at any other job, successful trading requires hard work. There are no short-cuts. Do your homework before initiating any trade.
---Simple trading strategies work the best. Jim has read the classic technical analysis books and talked face to face with the best trading professionals in the world. Most agree that, as Jim's friend Stewart Taylor says, "Simple is Simply Better" when it comes to employing successful trading strategies. All the neural networks and powerful computers in the world won't compare to a good, basic and well-researched trading plan. Don't confuse simple strategies with easy trading. Simple trading methodologies still require a lot of preparation and work.
In an active stock, FOREX or commodity futures market, it's critical to let trading profits run, and cut losses short. If Jim's technical signals are on the mark, he will let the market work in his favor and profits will accrue. If the market turns against him, Jim will have had tight protective stops in place to get him out of the trade before any serious damage is inflicted.
Jim's mission is not just to generate profits for you, but to also provide educational and insightful information to you. In this fascinating business, one never stops learning.
On the personal front, Jim was born and raised in Iowa, where he now resides. He has a wonderful wife and two great children. Jim works very hard on the job, but he also plays hard after work, as he loves adventures. From driving a Jeep across the highest mountain pass in the continental U.S., to summertime speed-boating, to extreme winter camping in the Boundary Waters, to hiking in the jungles of South America, Jim is always up for a new challenge.
Drop Jim an email to say hi. He enjoys hearing from his readers all over the world.
Jim Wyckoff (jim@jimwyckoff.com)