Published in April 16th, 2008
I thought a great place to start the blog after Mumbai would be the ES. I have two issues on the line:
My comments on the the Failed Auction at 1372. (http://tradingsuccess.com/blog/failed-auctions-a-behavioural-parameter-of-the-market-profile-297.html)
My comments that tonight’s CPI will exceed expectations (http://tradingsuccess.com/blog/more-of-the-same-293.html)
Let’s take a step back and review the longer term price action. Figure 1 shows the 12-m […]
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Published in April 15th, 2008
Back in Singapore after the Mumbai trip.
A short entry tonight; I’ll reply to all the comments tomorrow. Tonight, I’d like to comment on a question that was asked of the panel (see Figure 1): Can anyone be a trader?
One of the panel replied in the negative. The panelist argued that not everyone has the temprement […]
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Published in April 14th, 2008
Hi All
My apologies for missing the blog on Friday - Internet woes. The blog will be back to normal on Wednesday.
An episode in Mumbai serves as the basis for this blog.
The first was the comment by a local educator that in ‘day-trading, stops are for losers’. Hmm…I could see what he was getting at […]
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Published in April 10th, 2008
Ryan asked whether the opening on April 8 was a test-open. In my view it was not.
A test-open is second only to the drive-open in terms of exhibiting conviction. In the case of the test-open, the market is unable to find activity in one direction, reverses and finds activity in the other direction. There are […]
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Published in April 9th, 2008
Before I begin tonight’s blog, some news: until Wednesday April 16, my blog may be a little late and a little light. I am speaking in Mumbai ( see http://www.theatic.net/2008/speakers.php) and I am not sure what the Internet connections will be like. The mobile phones (cell phones) connections are not that great.
As Figure 1 shows, […]
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Published in April 8th, 2008
Nowadays, there is a tendency among trading coaches to diminish areas outside the province of their expertise: those who specialize in psychology will claim this is the most important; those that deal with money management stress its critical role; others focus on the having of a written plan with an edge.
One reason I like Dr. […]
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Published in April 7th, 2008
I have just finished Noble Derakoln’s “Winning the Trading Game, Why 95% of Traders LOSE etc”.
I like it in parts - the best was the section describing the path losing traders follow. I’ll start this series by setting the stage using Derakoln’s description (page 70).
Beginning with Happiness: For some reason, most newbie traders I have […]
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Published in April 4th, 2008
The Non-Farm Payrolls just came out. The unemployment numbers came out at the higher end of expectations. So far price reaction from the markets has been muted: Gold is down a little, Crude up slightly, US$ down slightly, ES up slightly - more of the same.
But folks, if I am right, a bombshell is around […]
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Published in April 3rd, 2008
I was looking for a way to round off the current series when Ms Ana Wang, student and friend, referred me to the latest blog by Dr. Steenbarger (http://traderfeed.blogspot.com/). He wrote on the characteristics he looks for in trend days. I thought: ‘Great topic to round off the series!’ Thanks Brett.
Since my approach to day […]
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Published in April 2nd, 2008
Yesterday I outlined the way I saw the ES based only from a Barros Swing perspective. Today I want to review trade management using Market Profile. But before I do that, let’s have a look at how I arrived at the 1405 (basis cash) being the top of the ‘make or break level’ for a […]
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