Archive for May, 2008
Thursday, May 29th, 2008
Success Lessons We Need to Learn
I am posting early for Friday because I’ll be in Vietnam tonight and want to be sure I complete Friday’s blog without mishap.
I wrote this article in 1999 - it’s an oldie and a goodie. Here it is with a few minor amendments.
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Mark Douglas’ success model is one of the better ones that I’ve come […]
1 Comment » - Posted in Psychology by ray
Thursday, May 29th, 2008
Fear and Euphoria
When I first read Mark Douglas’ book, “Trading In the Zone”, I felt that Mark’s main ideas were near the bull’s eye but were not dead on. I went on to trace the roots of this feeling. This article recounts that story.
Mark’s thesis in his books and workshops is: “Successful traders have a unique mindset […]
2 Comments » - Posted in Psychology by ray
Thursday, May 29th, 2008
Probability Thinking
Here is an article I wrote in May 2000. It’s as true today as when I first wrote.
Consistently successful trading is based on a specific mental mindset. Before we can consider the nature of that mindset, we first have to consider my approach to epistemology (the nature of and means by which we acquire […]
4 Comments » - Posted in Psychology by ray
Tuesday, May 27th, 2008
POC and Value Area
Gary asked:
“Hello. Could u advise if the tip and bottom prices of value areas are of more importance than the POC since effectively if we take positions at the previous day POC, we would be subject to whip saws as it rotates ard there?”
The AUDUSD 290-minute chart is a perfect illustration for the answer to […]
14 Comments » - Posted in Written Plan by ray
Monday, May 26th, 2008
Pump & Dump
I would like to start by introducing myself ; I am Ana aka Idkit.I just received an urgent message from Ray ,whose hip and back are playing up, to step in as his ‘guest blogger’ for today.
In a flash, I thought it may be informative if I post a topic that is […]
2 Comments » - Posted in Miscellaneous by ray
Friday, May 23rd, 2008
ES 05-23-2008
I received an email asking for my details about why I exited the ES trade. I’ll make that the subject of tonight’s blog.
In “Acceptance of Decisions’ Consequences” (http://tradingsuccess.com/blog/371-371.html), I said “Over the weekend, I decided to exit the longs mainly because the rally since May 9 had been on declining average volume”. This is […]
4 Comments » - Posted in Written Plan, Psychology by ray
Thursday, May 22nd, 2008
Acceptance of Decisions’ Consequences
If you are wondering about Ana’s comment…. I shall have a hip replacement on June 11 and in all likelihood, shall be bed ridden until June 26. In that time, some of my students and friends will make contributions to keep the blog going while I am away. Trust readers will be generous […]