Archive for December, 2007
Monday, December 31st, 2007
Routines and Habits: A Detour
I was going to write on trading plans, a subject that will probably take a couple of posts. But Ms A. Wang sent me a blog by Dr. Brett Steenbarger, Virtual Trading Groups: Getting to the Next Level, which contained a topic I thought more appropriate to end 2007.
In that blog, Brett writes that […]
12 Comments » - Posted in Miscellaneous by ray
Friday, December 28th, 2007
Routines and Habits III: The Disaster Plan
In these plans, I look to prepare for Murphy’s Law: “if there’s anything that can go wrong it will’ (BTW did you know there is a whole web site dedicated to Murphy’s Law? www.murphys-laws.com).
The important point here is to prepare for these contingencies before they happen.
Let’s take the most difficult problem first.
What happens if your […]
1 Comment » - Posted in Miscellaneous by ray
Thursday, December 27th, 2007
Routine and Habits II: The Business Plan
My starting point each September 1 (my year runs Sept 1 to Aug 31) is my business plan. Since I treat trading as a business and we all know most, if not all successful businesses, have a business plan, I thought this the appropriate place to begin Success Routines and Habits.
I prepare my Business Plan […]
2 Comments » - Posted in Miscellaneous by ray
Wednesday, December 26th, 2007
Routines and Habits for Success I
I trust you all had a great Xmas!
Over the next few blogs, I’ll be considering the routines and habits we need for trading/investing success. In this post, I’ll be examining the pre-conditions that are necessary.
Routines and habits are actions. There are 5 pre-conditions to effective action:
The quality of our preparation and planning
The will to execute our […]
1 Comment » - Posted in Miscellaneous by ray
Monday, December 24th, 2007
S&P and Context
I suggested a trading strategy on Friday before the market opened: buy a breakout of the 90 minute range if the open-gap failed to close in the first 90 minutes. What I’d like to consider today is why I’d sell the open-gap on Thursday and look to buy Friday’s.
The short answer is context.
Assessing context is […]
4 Comments » - Posted in Written Plan by ray
Sunday, December 23rd, 2007
Richard Wyckoff III
I don’t usually post on weekends. But it’s Xmas so think of this as my Christmas present to you for your support. Merry Christmas and Thanks!
In this post I’ll conclude the Wyckoff series and suggest source materials in case you’d like to take your studies to another level.
Like Steidlmayer, Wyckoff’s work evolved over time - […]