Trading is simple, take in more than you give out. There, my work here is done. Ok I guess not. When trading is going bad it is because I am taking in less than I am giving out. The title of this post is a more dramatic way to say that. Something that my mentor…
Monthly Archives: January 2012
Flipping a position vs flipping a thesis.
We have all been stopped out and then flip (reverse) our position only to get stopped out again. Two things help me. One I need to separate myself immediately. If I am not at my screens I can’t trade. No one likes to get stopped out and that most certainly changes the way I view…
Quick thoughts on the market.
Update: Posted at 1:01 CT The market so far bounced off our daily pivot at 1214.50 and yesterdays POC. Short of the single ticks from 1314.00 to 1313.25. The DJT still staying strong, maybe off the the news from CAT. NQ and EURO weak. ES holding below our MA on our short term chart. Posted…
Price determines greed.
Today is one of those days where I am seeing the market well but timing is slightly off. It is a little harder for me to scratch a trade and work around a position, like yesterday. Yesterday spoiled me a little. Lesson learned. One of the mistakes that traders make is they see the market…
Quick overview of the open.
Posted 9:27 ET. Yesterday we hit our upside targets in the big picture for S&P 500, NASDAQ, and DJ. This almost never happens simultaneously as it did. Although the overall trend is up this will help loosen up the market and eventually some side will puke or get really aggressive. This is part of the reason…
Three stages of trading objectives.
I am looking back on how my objective as a trader has evolved. It is funny how much theory and application changes how you view things. Letting the market/situation change how you view it is important. Everybody comes in with some expectations and it is constant race to keep the spread tight between expectation and reality….
Not failing is worse than failing.
Some types of failures are good. If I continue to have the opportunity to fail than I am doing something right. But there is good failure and bad failure. Good failure is giving everything you have and it just not being enough. Bad failure is not getting to that launch point. I go out of…
Your trading goals are wrong.
I wanted to make money from the start. I thought it was going to be easy. Everyone was making money. Remember, I started my trading career at the CME. You knew if people were making money. You could see the cars they were driving. You would see them at breakfast eating lobster at the Merc…
Quick thoughts on the market.
Published at 9:35 AM CT, 1/19/2012 The pit did very little after buying it with two hands since the start of the week. Much of the move happened overnight, again. The NASDAQ took out last year’s high. At first it came up short and then finally got through it and proceeded to break. This is…
Quick thoughts on the $ES_F.
The brokers in the pit continued to buy them especially in the 1292.00 to 1294.00 this morning ahead of the Housing Index number. They might know something we don’t know. The VIX opened on the highs and went straight down from there. I thought bonds would tip its hand but has not done too much….
