Below is an interview with Heather McRae by Matt Davio of Misstrade. I know Heather a little bit from twitter and we have met one time briefly. She is a former LEH salesperson, options trader, rower, and avid water drinker. The beginning of the interview talks about her experiences and options strategy. If you have… Continue Reading
Monthly Archives: October 2010
Afternoon Take $ES_F 10/25/10
This morning the market tried to find sellers, as expected it failed. If you believe in economic releases moving the market, we had some good news and did rally off. We filled the gap at 82.00. The market seems to be holding the 200 MA in the 3 minute which is slightly down at 80.48.… Continue Reading
Creating anchor points after breaking rules.
I have talked a few more times with the trader from the weekend email. …it was a mixture of “I know I am right” and “F.. it, I don’t care”… the paradox is that with this second trade I entered an even tighter stop than I would normally, almost as if to protect myself despite… Continue Reading
Morning Take $ES_F 10/25/10
We have a gap above at 1182.00. Overnight range is 1184.25 to 1177.25. Yesterday high was 1193.00 and low 1180.50. There is big talk about the dollar and its correlation to ES, so be aware of that. Yesterdays double top on the highs was a screw job. People trying to buy the break out got… Continue Reading
Read, Learn, Watch. Best of the week ending 10/23/10.
I and everyone else has said it before but it can not be said enough. Via mercenarytrader.com I wanted to hate this post but I can’t. Correlations do exist but they are hard to profit it from. They are like trends. However, he bookmarks it with something perfect, “innocent till proven guilty”. Via alphatrends.com If… Continue Reading
A reader email: Struggling again.
This is an email I got over the weekend; I have interacted with this trader a few times. He is a newer trader. I am selfish, I like to interact with new traders. I can see the impact much quicker. There are basic problems that new and struggling traders have. I think success in trading… Continue Reading
Afternoon Take ES_F 10/21/10
Note: More than likely I am done for the day. We made new highs for the month. As we moved higher the NQ did not follow. I sold so many in the 84.75 to 58.75 area that I am almost sick. Finally it broke. We are breaking now and have a short term range extension… Continue Reading
Morning Take $ES_F 10/21/10
We have had a nice run up overnight. We took out the high of the month by one tick. I can’t help but to think they are screwing with us. Gap below at 1174.75. Overnight range is 1182.50 to 1172.00. And double bottomed on the 60 minute 1177.50. Above 1185.00 or below 1154.00 would be… Continue Reading
The way you are looking at random is wrong.
We get random wrong. I lose several times a day and have lost thousands of times in my career and hopefully will have an opportunity to lose tens of thousands more times. In order for me to continue to trade I have to rationalize the losses. Some are losses and some are mistakes, some are… Continue Reading
A case of the "Mondays".
Just got off the phone with a client. He explained he was having trouble with Mondays. After having a bad day he fights an uphill battle the rest of the week. Nothing can be more frustrating than waiting all weekend for the market to open and to get beat up on the opening bell. Coming… Continue Reading
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