Just a short note to thank readers who have voted me in Best of the blogs at Interactive Investor Blog. I am glad to know rants and diary of my trading do attract/help some readers.
Thank You.
A cure for insomnia
Ah.. England failed to win again. 0-0 draw with Israel. Here is an interesting poll run by ESPN. Well, I am with the green.
I am not into sports betting, nor playing football. But, I can’t explain why I love this sport so much. Well, it is indeed a beautiful game. Watch this & watch this
Quote from Gil Blake
Gil Blake has a routine of internalizing how he would feel given what might happen on the next trading day in The New Market Wizards: Conversations with America’s Top Traders
My approach is to confront losses even before they materialize. I rehearse the process of losing. Whenever I take a position, I like to imagine what it would be like under the worst-case scenario. In doing so, I minimize the confusion if that situation actually develops. In my view, losses are a very important part of trading. When a loss happens, I believe in embracing it.
…….
By embracing a loss, really feeling it, I tend to have less fear about a potential loss the next time around. If I can’t get over the emotions of taking a loss in twenty-four hours, then I’m trading too large or doing something else wrong. Also, the process of rehearsing potential losses and confronting actual losses helps me adapt to increasing levels of risk over time.
Home or a house
Billionaire gives mansions to Hawaii’s native homeless
- Billionaire gives three families keys to multimillion-dollar houses Thursday
- He says he will open eight of his 22 homes to needy Hawaiian families
- The families will be able to stay in the homes for up to 10 years
- Some neighbors speculate he is trying to drive down real estate values
Is he being philanthropic or a property trader? time will tell.
His neighbour was saying:
“Everyone’s paying homage to him, but in reality, he’s the problem,” said Mark Blackburn, who lives down the street from Kahale’s new home. “Houses are homes. They’re made to live in; they aren’t investment vehicles.”
JY (Japanese Yen) daily end 22-Mar-2007
I am doing my homework and trying to understand the information I read from OMNI. There is a sell recommendation of JYM7. I pull out daily chart here. This is a trade we expect to profit within the range. OMNI resistance area is around .8585/.8588, profit target .8508/.8511. At least from my limited knowledge of TA. It does make some sense to me. In addition , I am pretty happy to see the ugly stochastics trend. Let’s see how it works out later.
[photopress:JY22Mar2007daily.gif,full,alignleft]
NQ daily chart end 21-Mar-2007
After watching couple of videos of ‘Short term trading with Oscar‘ and heard some good words from Phileo, I start to do my daytrade preparation from daily chart. This is just to identify support/resistance levels and have a view of potential market direction of the day.
Here is daily chart of NQ June contract. We had 3 consecutives up days. With the result of Fed meeting yesterday, bulls are having an upper hand. I am interested to see any weakness to support areas to get long.
OMNI support area is at 1806-1804 as well.
[photopress:NQ21Mar2007daily.jpg,full,alignleft]
