Here is the Economic Calendar for the coming week. In addition to this, I have found Barron’s Economic Calendar to be an excellent source of information as well.
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An NYSE Scalper’s Tale>> Trading goals
Talking about trading rules and trading goals, J.C from An NYSE Scalper’s Tale wrote a very good monthly review. Go and check it out.
Monthly Review September 2006
Dear diary,
September is finally over. Now it is time to review what I have done this month. Nothing much. It was a tough month as mentioned by other bloggers. Choppy. I am closing the month with negative P/L. -3.46-R. As I have told you before, I was not fully committed to trading this month. Too much things had happened and I took a week off away to Taiwan. In total, only 7 trades were made.
It was a negative month for me after all.
I wanna be frank to you and be accountable to myself, so here is my performance chart for September, pretty nice downtrend huh.
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Trading diary: 29-September-2006 Friday Morning
Dear diary,
After watching the market for the first 30 minutes, I, again, lost the interest to trade today. We are likely to have another choppy day. Man, I can’t wait for September to be over. NYSE TICK is hovering around +400 to -400. It spent most of time above 0. Volume is normal, nothing impressive. Bears are trying to sell the top, but I don’t think it is a good idea to go short at the moment.
From the first 30 minutes of trading, I see a volatile with slightly positive biased sentiment. I am not going to trade today. I just can’t catch where does market try to go today.
I will start my reading now. Talk to you later.
John Carter>> NYSE TICK
I read again John Carter’s article on TICK. I found it useful and I incorporate it into my trading. It assists me in exiting potentially losing trade or protecting profit. It will reduced the situation like’ I exited the trade earlier because I feel something is not right’.
Postmortem 28-September-2006
Dear diary,
I was reluctant to trade after watching the first 30 minutes of cash market opening. I told you that. In fact , there were setups for Short trade in 15-minute chart of ES and YM. However, TICK was not supporting this action. I am still new to trading with TICK. This morning, most of time, it was moving within +400~-400 range which showed the market was kinda non decisive. According to Carter, this range was also called NOISE.
So, I did not make any trade, my dear diary. Looking at the chart, you might say “hey, why didn’t you trade? you could just exit the trade at the bottom the long tailed candle. That will give you couple of Rs” Well, you are right. Well, it is easy to say these retrospectively.
