I’ve been thinking about listing out trading books and magazines on my shelf. I just did not have the time. Here it is. I am not grading the books, instead I am categorizing them according to my understanding and feed back after reading them. Absolutely personal opinions. [Read more…] about My trading library
TICK Band trading #01 20-Nov-2006: ES Long trade closed
I do not label this as a dummy trade. The entry was not really a narrow range bar. Instead I have established a new category called TICK Band. This trade was made based on NYSE TICK behavior.
The strategy is to catch the short term momentum in the market and trade along the direction in ES (E-mini S&P). A strong resistance was found at previous day’s high. It was tested once, and failed to clear it. I was waiting for ES to test it again.
Indeed, higher lows were formed in ES and TICK. The probability of this setup is high according my experience. That was the reason I risked 1-R to gain 0.6R. No secret, just traded with trend lines.
Target hit. First trade closed with +1 point (0.6-R) gain.
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Welcome to new trading week
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Let’s start the week with this. Man United 2- Sheff United 1.Rooney, 3 goals in 4 days. He is back to his best again. Not trading well recently? Keep your head up, focus, focus and focus..
Go read about how Manchester United came back from behind and slaughter Sheff United.
And, secondly, read Chasing success, again from Trader-x.
Del.icio.us : Trading with TICK
Here are some articles on the topic of Trading with TICK.
- How to use the NYSE TICK chart to become a better trader
- eSignal Learning: Trading with the Masters — Lawrence G. McMillan
- Day Trading the S&P futures with Initial S/R and the NYSE TICK
- Reading the Music of the Markets: Day Trading Stock Index Futures
- Traders Laboratory – Let’s Talk About The TICK’S
- TICK discussion by DayTradingCoach.com
Welcome to Thursday….Random thought
It is Thursday! It is options expiry Thursday. I will be taking Thursday and Friday off. Instead of trading , I am working on some programming in Tradestation. Playing around with EasyLanguage and code some simple alerts and indicators. Trading in the evening time is tiring, so I guess some alerts help to keep me awake when opportunity appears.
Some observations after reading blogs: I found some common traits among traders (those appear in blogsphere) who do well (at least from the trades they have posted) like Trader-x, Estocastica, Maoxian, Tom.C etc though they might have learnt some skills/ideas from other traders or mentors, the key point is, they have developed a set of strategies by their own. There might be similarities, but there is always something unique from each of them.
I am kinda lazy to continue writing on this topic. The key point is, you wanna use an indicator? please open up the source code, read it, and understand what the heck is inside. You wanna learn a trading strategy, read it, understand it, and make it your own. Yup, your own.
Just some random thoughts.
Xiang Qi Club
So boring~ ES is staying flat, well, hovering around 1400. When there is really nothing to trade. Don’t trade
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I was playing Chinese Chess at XiangQi Club . I am a lousy chess player. Now it is time for me to pick up this game. Ok, I am going to have another game before I call it a day.
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