Friday, November 29, 2013

11-28-13 US UK Replay

Started getting closer to a more disciplined level of trading for each session.

This should be the way to trade. 

Do NOT be greedy ! It should be simple. Take it as you get it, as you deserve it.






Tuesday, November 26, 2013

11-8-13 US-UK Market Replay


11-4-13 Market Replay US-UK

This was ttrying to learn how to use the atlas line in combination with everything.

Biggest lesson was not to use more than one contract and to follow the rules in one market specifically as opposed to jumping around too frequently.

May likely be better able to do that when have more monitors to work with for easier viewing versus a laptop, toggling back and forth.




Sunday, November 24, 2013

Replay 6E, 10-4-13, US and UK Sessions




Trading the news

Oct 4 UK replay ATO 2


Experimnting with targeting 2 x ATO range as possible alternate targets.

If waited or let run would have reached 1.3600 Roadmap level. Expecting possible reversal. Trying trade.


Oct 4 UK Replay ATO 1

The key to making good trading decisions


The key to making good trading decisions is to pick good primary signals and good confirming signals.


If the open is very bullish (more than 11 points up) then get in ASAP if you are planning to get in. If you are short and want out then get out ASAP. If the open is very bearish (more than 11 points down) then get out ASAP if you want out of a long position. If you want to go long then wait until the afternoon. If you are short then you may want to consider taking profits before the market closes.
An Exchange Sweep occurs when a big order suddenly cleans out all the bids or offers within a price range across all the markets that a stock is traded in. This will cause a very brief spike down or up in the price, depending on if it was a buy order or sell order. If you run with a live stop loss that is near the current market price, then you may get taken out of your position by this spike. It is better to run with a live stop loss if your positions are unattended, but if you are there to watch it then using a manual exit will avoid exposure to an Exchange Sweep. If an Exchange Sweep occurs then allow 10-30 seconds for the price to recover. If it has not recovered by then or if it is trending out of control then you should exit.


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Saturday, November 23, 2013

Trade Log [#11]

TRADE SESSION 
Date Oct 08, 2013
Trade Status Market Replay
Platform - NinjaTrader
Symbol 6E
UK "A" - Period 1<br>(Open 2.5 hrs)
Strategy At The Open
ATR Level at Fill 0.00045
Automated SW Post 0
Profit Target 4
Catastrophic Stop 8
Actual Entry 1.3566
Exit 1.3573
POST-TRADE 
Result Catastrophic Stop
Loss $-87.50
Needed Corrections - 2-Bar-Close setup not properly confirmed
- Trading while tired or otherwise occupied
- Holding on to trade ... hoping for recovery
- Failure to acknowledge loss
NOTES / OBSERVATIONS Entered on opposite side of ATO, but got in a little late.No SW posting. Held on to 4-bar stop, and exited at close. Price returned to 1.3572 on 6th bar
Screenshot Oct 8 Replay 2.PNG

Trade Log [#10]


TRADE SESSION 
Date Oct 08, 2013
Trade Status Market Replay
Platform - NinjaTrader
Symbol 6E
UK "A" - Period 1 <br>(Open 2.5 hrs)
Strategy At The Open
ATR Level at Fill 0.00036
Automated SW Post 1.3573
Profit Target 5
Catastrophic Stop 10
Entry 1.3573
Exit 1.3577
POST-TRADE 
Result Full Gain
Gain $50.00
Needed Corrections - 2-Bar-Close setup not properly confirmed
NOTES / OBSERVATIONS Tried exiting early and on end of 4th bar.
Close exited at 4 ticks. Subsequently reversed.
Trade worked, but could have been worst.
Screenshot Oct 8 Replay 1.png

Trade Log [#9]

TRADE SESSION 
Date Nov 23, 2013
Trade Status Paper Trade
Platform - NinjaTrader
 
Symbol ES
UK "A" - Period 1 <br>(Open 2.5 hrs)
 
Strategy At The Open
 
 
POST-TRADE 
Result Break-Even
 
Screenshot Chart 1.png

Trade Log [#8]

TRADING SESSION 
Date Nov 23, 2013
Trade Status Paper Trade
Platform - NinjaTrader
ES
US "A" Period 1
At The Open
ATR Level at Fill 1.27
Automated SW Post 1776.25
Profit Target 4
Catastrophic Stop 8
Entry 1776.25
Exit 1780.25
POST-TRADE 
Result Full Gain
Gain $50.00
Upload Screenshot Bongo.png

Fwd: Trade Log [#4]




Date Nov 22, 2013
Trade Status Paper Tarde
Symbols 6C
US "A" Period 1
First Question ATO
Upload a File 2013-11-22 11.24.51 am.png

Tools: Practice chart reading with PipHut

Simple in its essence but a great tool for honing your chart reading skills.

http://piphut.com/trade-game/

Our methods tend to work on the lower 1 and 5 minute time frames, so despite this being a daily outlook in terms of the bars and candles, the practice is definitely worth it.

It also adds to your confidence level of reaching points where you stay out of the trade as you observe the market flow, entering only when deemed necessary.

Let me know what you think …. ;)

Newsletter Articles



The markets are all about using money to make money. Without the necessary capital, one cannot trade in the markets. As long as we have money, we are in the position to make money.

http://www.traderplanet.com/commentaries/view/164848-trader-tips-preserve-capital/?utm_source=newsletter&utm_medium=email&utm_content=7&utm_campaign=1708

Friday, November 22, 2013

Trading Plan | Trading Psychology Edge


http://www.tradingpsychologyedge.com/trading-hvas/trading-plan/

In this Work­shop Webi­nar, he shows the traders:

• How to cre­ate an effec­tive Vision & Inten­sion that leads to
• Set­ting trad­ing goals that can be mea­sured and achieved
• Details on how to develop an over­ar­ch­ing trad­ing phi­los­o­phy that guides your trad­ing and can be reflected in every trade you take
• Iden­ti­fy­ing the mar­kets and time frames you trade in accor­dance with liq­uid­ity fac­tors, your risk tol­er­ance and per­sonal char­ac­ter­is­tics
• How to mean­ing­fully iden­tify your strong points as a trader, and also where you reach your per­sonal lim­its, then cre­at­ing spe­cific, indi­vid­ual guide­lines for your per­sonal dis­ci­pline
• How to cre­ate gen­eral trad­ing guide­lines for your­self so that you are mak­ing trades that have the high­est odds given mar­ket con­di­tions, includ­ing when to use lever­age and when to avoid mak­ing trades
• How to apply the trader's most impor­tant rule: Pro­tect your Cap­i­tal with sound money man­age­ment and risk pro­tec­tion
• Proper posi­tion siz­ing, includ­ing an effec­tive way to increase up your posi­tion size to achieve your finan­cial goals
• Keep­ing good records and gen­er­at­ing reports so that you can effec­tively mon­i­tor and track your progress as a trader
• Devel­op­ing impor­tant rou­tines includ­ing your prepa­ra­tion for the next trad­ing ses­sion.
• Devel­op­ing a con­cep­tual map of the mar­ket so that you have a clear sense of your trad­ing envi­ron­ment
• A com­pre­hen­sive for­mat for spec­i­fy­ing your trade setups, includ­ing keep­ing impor­tant infor­ma­tion on your trade setups to help you improve over time.
• A method of review­ing your trades and your trad­ing per­for­mance for con­tin­u­ous improve­ment
• Devel­op­ing an emer­gency plan so you can be in con­trol of unex­pected events.
• Spec­i­fy­ing and man­ag­ing your over­head costs
• Cre­at­ing a Pro­fes­sional Devel­op­ment so you can sched­ule and man­age your ongo­ing learn­ing
• And, more …

In this Webi­nar Work­shop, you will also receive a 27-page Work­book com­plete with all the forms you need to cre­ate your pro­fes­sional trad­ing plan. Unique to Dr. Gary's approach to con­struct­ing a trad­ing plan, you will also be taught how to sum­ma­rize your plan into an Exec­u­tive Sum­mary which you can keep on your trad­ing desk for easy reference!

Trading Journal | Trading Psychology Edge


http://www.tradingpsychologyedge.com/trading-hvas/trading-journal/

Keep­ing an Effec­tive Trad­ing Jour­nal is a video tuto­r­ial designed to help you develop solid men­tal and tech­ni­cal trad­ing skills.  Based on his own trad­ing expe­ri­ences as well as the expe­ri­ences of traders Dr. Gary has coached, this trad­ing jour­nal helps you with the com­mon strug­gles and frus­tra­tions faced by all traders.  Dr. Gary's Trad­ing Jour­nal is not an ordi­nary jour­nal.  When used con­sis­tently, it can serve as your vir­tual trad­ing coach, lead­ing you through your daily trad­ing and help­ing you to iden­tify your trad­ing strength and lim­i­ta­tions.  In the video, Dr. Gary explains key guide­lines you can fol­low in using the Trad­ing Jour­nal as your vir­tual trad­ing coach.  Inte­grat­ing ele­ments of cut­ting edge, peak per­for­mance psy­chol­ogy, Dr. Gary takes you step-by-step and shows you how to:

• effec­tively pre­pare for the trad­ing day
• set up your daily game plan
• iden­tify the most impor­tant per­sonal goals to work on
• record your trades and men­tal states
• assess your trad­ing per­for­mance and decision-making
• iden­tify pos­i­tive and lim­it­ing pat­terns in your trad­ing
• use a straight­for­ward method to address lim­it­ing pat­terns
• apply deep, delib­er­ate prac­tice to your trad­ing
• track your progress

Free Resources | Trading Psychology Edge

http://www.tradingpsychologyedge.com/free-resources/

Free Resources

Wel­come, Traders!  Dr. Gary Day­ton and TradingPsychologyEdge.com have devoted this sec­tion of the web­site to free stuff that can help you develop your men­tal skills and tech­ni­cal skills to trade suc­cess­fully.  The fol­low­ing are the links that lead to the spe­cific pages with free infor­ma­tion and tools for you:

How To Overcome the Fear of "Pulling the Trigger" on a Trade | Interviews With Top Traders



play 
How To Overcome the Fear of "Pulling the Trigger" on a Trade
Specs: 32 mins, 50 secs | 15.1 MB
Get access now to 100 detailed interviews with profitable traders.

The setup looks great. Most of your indicators are signalling it is time to enter. Perhaps one or two don't look perfect, but enough things are the chart do that you know it's time to trade. But you just can't seem to pull the trigger. That's what today's special episode is all about. In this interview, I talk to three separate "trading shrinks" who talk about how to overcome the fear of getting into a trade. Dr. Brett SteenbargerDr. Doug Hirschhorn and Dr. Gary Dayton each give their takes on the problem and their views on things you can do to overcome the fear of losing in a trade. In each segment, my interviewees discuss the causes of the problem and what you can do to move past it and make those trades - and make that profit!

Download the full mp3 file here.. (Right click and "save link as")

 Printable transcript (transcriptions by PodsInPrint.com)     



http://www.traderinterviews.com/free/Pulling-the-Trigger.php

Saturday, November 16, 2013

Rich Reilly - Psychology from the pit

"All your rewards are always on the other side of the hardest thing that you ever have to do"
Rich Reilly
Time stamp : 00:06:00 mins. 

A 15 year S&P pit veteran talks to us about trading psychology. Excellent knowledge.

https://connectpro58377496.adobeconnect.com/_a816688188/p1nxq2nz5fh/?launcher=false&fcsContent=true&pbMode=normal

Friday, November 15, 2013

But what is defensive money management anyway?

A must-read article.
 

Money management is an often ignored topic in trading because, frankly speaking, no one is interested in the topic of how to lose money properly. What everyone wants to know is how to win money quickly and if you are writing books on trading, it better be something about trading techniques that show the readers how to pick the tops and bottoms. For money management related trading books, all of them focus on the concept of optimizing the potential profit. People are just too busy seeking for that next best trading strategy. They will worry about money management issues later because many of these traders think that they do not have a lot of money to start with anyway so being conservative could reduce their chances to succeed in trading.

It does not sound right when we put conservative thinking like defensive money management together with speculative activities like trading and daytrading in the same sentence, does it?

Why would anyone engage in speculative activities like trading would think conservatively at all?

Well, those who successfully make a living through trading everyday (or those who successfully grow their capital with part-time trading) and end their trading career at their terms (i.e. choose to retire and stop engaging in financial speculations) would tell you otherwise. I call these individuals achieving practical success in trading (in my eBook Know your odds before you trade). Being defensive in the money management aspect of trading is one of the most important factors that drive the success in many retail traders' trading careers.

But what is defensive money management anyway?

How do you tell the difference between financial speculation and gambling your money away?

 

http://www.daytradingbias.com/?p=602

General Tips on Targeting

57:00 mins






Wednesday, November 13, 2013

Forex and other Global Exchanges Trading Hours




is very helpful depending on the market you intend to trade.


Live Forex Market Hours Monitor:



GLOBAL EXCHANGES - Trading Hours 

Stock ExchangeHours
NYSENew York Stock Exchange09:30-16:00
TSETokyo Stock Exchange09:00-11:00
12:30-15:00
LSELondon Stock Exchange08:00-16:30
HKEHong Kong Stock Exchange09:30-16:00
NSENational Stock Exchange of India09:00-15:30
BM&F BOVESPABolsa de Valores, Mercadorias & Futuros de Sao Paulo10:00-17:00
ASXAustralian Securities Exchange10:00-16:00
FWBFrankfurt Stock Exchange -
Deutsche Borse
09:00-20:00
RTSRussian Trading System10:30-18:00
JSEJohannesburg Stock Exchange09:00-17:00
DIFXDubai International Financial Exchange- now NASDAQ Dubai09:00-14:00


NASDAQ
NASDAQ has a pre-market session from 07:00am to 09:30am, a normal trading session from 09:30am to 04:00pm and a post-market session from 04:00pm to 08:00pm (all times in EST).

COMEX / NYMEX
Trading gold futures is open only between 7:20AM and 1:30PM on the New York Commodities Exchange (COMEX), whereas if you trade crude oil futures on the New York Mercantile Exchange, trading is open only between 8:30AM and 2:10PM

CME - TRADING HOURS : FUTURES & OPTIONS
Trading hours are in U.S. Central Time unless otherwise stated
http://www.cmegroup.com/trading_hours/

Psychology in Trading

Good qualities to focus on


Forex Classes - Volatility and Risk Management


Risk Management


Tuesday, November 12, 2013

9 iPhone Apps To Help Soothe You To Sleep

9 iPhone Apps To Help Soothe You To Sleep

I'm a bit of an insomniac and I often have some difficulty falling asleep. Most of the time, it would take me close to an hour to drift off after hitting the bed. That's a lot of time spent rolling around, not doing anything. I always have half a mind to get up and get some work done but that would cause me to lose even more sleep, affecting the next day's performance.

I used to resort to a couple of Mac apps to help put me to sleep. Recently, I found something another tool to help me achieve blissful slumber — my iPhone.

I was looking for an iPhone app that would play soothing sounds (something akin to a Sound Machine) like pouring rain or blowing wind (yeah, I'm kinda digging that) to help put my mind at ease. Coincidently, I found that listening to these sounds while falling asleep, I dream less and tend to get a better night's rest. Although, your personal results may differ.

In my quest to find these apps (the App Store is so cluttered these days), I tested several and found that most of them have slightly different sounds to offer. Each one has its own distinctive motif. So, instead of choosing the best one for me (which may not be the one for you), I decided to list them all down so that you can try for yourselves. So here they are, 9 iPhone apps to help soothe you to sleep.

Custom Sounds of Nature Lite

CSON Lite provides 2 very realistic sounds of nature — Calm Ocean and Mountain Stream. Within Calm Ocean, there is a selection of sounds and the option to configure their presence and volume: Ocean, Seagulls, Wind Chimes and Foghorn. Mountain Stream has a several sounds to choose from as well: Stream, Bull Frogs, Birds and Day Crickets.

iphone apps sleep

Each of the selected sounds loop so they can be played endlessly. CSON Lite also has a built-in timer so that you can listen to the sounds for as long as you wish before the sounds slowly fade away.

iRelax Melodies

iRelax Melodies is free for a limited time and has a collection of 16 very relaxing (indeed!) sounds to put you to sleep –River, Ocean, Flute, Rain, Winds, Music Box, Lounge, Birds, Piano, Orchestral, Waterfall, Thunder, Zen, Fire Camp, Melody and Night — all arranged as post-it notes spanning two pages. The sounds are selected by tapping on their corresponding notes and here's the cool thing: you can select as many sounds as you want and mix your own customized track!

iRelax also offers a built-in timer albeit only as predefined time intervals of 5, 10, 15, 30, 45 minutes; 1 hour and 2 hours.

eSleep Lite

eSleep Lite is slightly different from your regular sound machine in the sense that it allows you to select 1 background "music" track and up to 3 "noise" tracks. Besides that, it also has a little party piece: it will let you record your own soothing sound to be played as a "noise" track.

eSleep Lite comes with built-in alarm and timer that starts to fade out in the final minute.

Ambiance Lite

Ambiance Lite is not your ordinary sound machine. It is a full-fledge jukebox of awesome sounds. The free app comes pre-installed with three: Large Wind Chimes, Loons and Rain and Thunder II. However, you can download as many sounds as you want for free from their online repository!

iphone apps relaxation

To imagine how Ambiance Lite works, think of it as an iPod. You can rate, favourite, loop and shuffle different sounds from the main playlist. It also features the usual timer and alarm functions so that you can set the app to play and drift off to sleep without a worry in your mind! Not bad for a free app!

Naturespace

Boasting holographic audio, Naturespace features five stock environments with 3D sound that are accurately recorded in high definition and seamlessly reproduced to provide you with a realistic experience.

If you're not the kind to fiddle with settings or customize sounds to perfection but rather, just want a simple app that can help calm you down instantly (and effectively), this is the one you need.

Sleepmaker Storm, Stream and Rain

Sleepmaker's series of apps are for the serious insomniacs who know what they need to put them to sleep. These 3 apps dish out specific collections of sounds, all targeted at tranquility. Unfortunately, this is also the apps' weakness. Because they are separated into three distinct applications, there's no mixing and matching. You are able to only play one sound at a time.

However, the sounds that they offer are pretty realistic. Take a look at their descriptive titles.

In Storm;

  • Gentle long rolls with lite rain
  • Medium thunder with heavy splatter
  • Heavy constant wind storm

In Stream;

  • Gentle mouth of brook
  • Medium fast flowing stream
  • Heavy bottom of waterfall

In Rain;

  • Gentle onto forest foliage
  • Medium and steady with puddles
  • Medium rain against windows
  • Heavy torrential downpour

Sleepmaker also produces Wildlife and Waves sound packs but I have yet to review them. Personally, I think it would be easier for end-users if they made one free app with all the sounds packaged together.

White Noise Lite

Don't be fooled by the name, White Noise Lite has a larger selection of sounds than just pure white noise. Actually, it has several sounds that are pretty odd like Grandfather Clock, Oscillating Fan, Train Ride and Airplane Travel. Although, I must admit, they're surprisingly relaxing and I grew to like them, especially Train Ride — it is hypnotic!

It also has the usual calming ocean and rain sounds. My suggestion is to try out the other sounds because they may seem weird but they're actually quite good.

So which is my favourite? I can't really say. They all have something different to offer. But I don't see why we have to choose — they all free! Try them out and let me know how they work for you. Are you an insomniac? Do you find it hard to fall asleep? What do you usually do to get yourself some kip?

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