YM
3 intraday swing entries during morning session.
09 April 2015 YM Entry chart
My Weekend reading list: Saturday ,31 January 2015
Here are the articles in my weekend reading list
Trading Shouldn’t Be A Flip of the Coin: Each day I host the SMB AM Meeting. The purpose of the meeting is to make sure that our desk has a game plan to attack the best stocks and setups. Yesterday we – Tags: traders development – http://www.smbtraining.com/blog/trading-shouldnt-be-a-flip-of-the-coin
An Exercise to Evaluate Your Trading: Here’s a worthwhile exercise I recently discussed with a trader. Select a measure of market trending, such as a X-period Sharpe ratio for the market. Divide the last couple of years into bullish trending, non-trending, and bearish trending periods. Select a measure of market volatility, such as VIX. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2015/01/an-exercise-to-evaluate-your-trading.html
Sample Futures Trade Plan: Learning to trade is about observation, study and practise. You should be able to incrementally build upon your skill and develop as a trader. – by TradeRunner – Tags: traders development – http://www.traderunner.pro/sample-futures-trade-plan/
Why You Can’t Afford to Be a Generalist: If you consider yourself a generalist, here’s the good news: doing great work in the future will require the skills of a generalist, especially if you work independently or on a small team. And more and more of us are working independently these days. – by Corbett Barr – Tags: traders development – http://fizzle.co/sparkline/generalist
The Trading Coach — Unconventional Training for the Unconventional…: As traders it is a best practice to learn from the Greats- particularly how they train to improve. Tom Brady unarguably one of the great QB’s to every play football offers us a best practice to incorporate into our training. – Tags: traders development – http://mikebellafiore.tumblr.com/post/109338986952/unconventional-training-for-the-unconventional
Is Social Intelligence Related to Trading Skill?: Interesting research from Daniel Goleman and others suggests that emotional intelligence and social intelligence are important to business leadership. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2015/01/is-social-intelligence-related-to.html
Best Practices in Trading: Finding and Focusing on Your Trading Edge: Two kinds of traders fail to find success: those who cannot change and adapt and those who cannot focus and exploit their edges in markets. Very often traders become frustrated with losses and abandon what they are doing, seeking ever better ideas and methods. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2015/01/best-practices-in-trading-finding-and.html
THE THINKING TRADER: According to a recent research study the popularity of a stock may benefit from the momentum effect whereby “stocks that have recently risen in price continue to perform well in the short term (usually a matter of months). – by David – Tags: traders development – http://www.thecrosshairstrader.com/2015/01/the-thinking-trader-72/
Enjoy, and have a good weekend.
Keep Learning, Keep Trading.
Gav
My Weekend reading list: Saturday ,24 January 2015
Here are the articles, blog posts I have collected over the week for weekend reading. I thought the list might be valuable for traders’ development.
10 Reasons Traders Lose Money In The Market: With all the fancy charts, fundamental analysis, and experience with price action, you would think that the majority of traders would be profitable. The sad fact is that most are not successful. The majority of all traders contribute to the profits of the minority that are profitable. – by Steve Burns – Tags: traders development – http://www.seeitmarket.com/10-reasons-traders-lose-money-trading-market-13891/
7 Steps to Building Trading Edge: Hey Mike, I’ve been following you for over a year now and have both your books. You post great threads too. I believe the greatest challenge is creating that edge. Its rare to come across a mentor in this industry, especially if you don’t have your foot in a prop firm. – Tags: traders development – http://mikebellafiore.tumblr.com/post/108747498852/7-steps-to-building-trading-edge
Lesson 6: Luck versus Skill: In part 6 of my 7-part series on Lessons I’ve Learned, we will look at luck and skill. In order to be successful taking risk in the markets, you must understand the role of luck and skill. From that understanding, there will be several implications for your actions and how you invest and trade. – by bruce.bower – Tags: traders development – http://www.smbtraining.com/blog/lesson-6-luck-versus-skill
Really Simple Rules to kick start your trading year: Not another blog post of some glorious trading rules. But, here are couple of things that I have learnt (some of them, in the hard way) from the past. So , this blog post is really meant for myself as constant reminder, and maybe, help some of my 13 readers. I shall admit that, I had this problem. – by Gav – Tags: traders development – https://tradergav.com/really-simple-rules-to-kick-start-your-trading-year/
Best Practices in Trading: Using Biofeedback to Manage Trading Stress: Daniel also mentions that considerable research supports the use of heart rate variability feedback in controlling stress and enhancing well-being. Because the monitor gives us real time feedback about whether we are in or out of our performance zone, it serves as a tool for mindfulness. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2015/01/best-practices-in-trading-using_24.html
WHY I TRADE BREAKOUTS: In this 20 minute video we discuss trading the breakout on both the WEEKLY and DAILY charts. By the end of this presentation you should begin to understand why this trading edge is so powerful and why you should consider learning how to spot the opportunities inherent in breakouts. – Tags: traders development – https://vimeo.com/thecrosshairstrader/review/81939705/e83b89cb16
Best Practices in Trading: Accepting Uncertainty: Success in trading requires the ability to act decisively in the midst of uncertainty. Even when a trader possesses a durable edge in markets, the random variation around that edge makes for a meaningful proportion of losing trades. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2015/01/best-practices-in-trading-accepting.html
Wait For Your Pitch!: One of the things that I’ve learned over the years in this business is to be patient. Some of the most productive days while managing a portfolio can actually be days where you don’t do a thing. Sitting there not doing anything can sometimes be the hardest thing for a human to do. – by JC Parets – Tags: traders development – http://allstarcharts.com/wait-pitch/
Agnosticism (in terms of the securities market): The above definition is the context in which I will use the word ‘Agnosticism’ in this post. I am by no means, whatsoever, referring to the philosophical, metaphysical or theological implications in which this word is often used. No one knows where a stock, commodity, etc. – by BenCBanks – Tags: traders development – http://bcbanks.dormroomcapital.com/agnosticism-in-terms-of-the-securities-market/
The Firstadopter Column — How is what Saxo Bank is doing to its clients…: “one of the biggest players in retail foreign exchange trading, will potentially set different rates for transactions conducted after the Swiss National Bank’s shock removal of its 3-1/2 year old cap on the franc.. – Tags: traders development – http://firstadopter.tumblr.com/post/108694930189/how-is-what-saxo-bank-is-doing-to-its-clients
75% Of InteractiveBrokers Franc Losses from FX Futures, not Spot FX: InteractiveBrokers (IB) made headlines last Friday when they announced that customer negative balances related to the Swiss franc move on ‘Black Thursday’ amounted to $120 million. – by Ron Finberg – Tags: traders development – http://forexmagnates.com/75-interactivebrokers-franc-losses-fx-futures-spot-fx/
Ray Dalio On Europe, QE and How It Compares To America: Ray Dalio had some profound things to say at the 2015 World Economic Forum. Specifically about Europe, the U.S. and how structural reform is the key difference. One quote stands out: “There’s twice the rate of entrepreneurship in the U.S. than anywhere else. – Tags: traders development – http://www.exploringmarkets.com/2015/01/ray-dalio-on-europe-qe-and-how-it.html
Why You Should Have More Than One Trading Account: In a world where you can trade anywhere with just a click of the mouse there is simply no room for excuses when it comes to choosing a number of trading and investment accounts tailored to your individual trading needs. – by Mercedes Van Essen – Tags: traders development – http://uk.advfn.com/newspaper/mercedesvanessen/31665/why-you-should-have-more-than-one-trading-account
Historical Open Orders: Each graph uses a color palette to depict percentage* of orders** placed at different price levels around the market price (the black line). There are four graphs for each selected currency pair and time period: – Tags: traders development – http://fxtrade.oanda.com/analysis/historical-open-orders
Enjoy, and have a good weekend.
Keep Learning, Keep Trading.
Gav
Really Simple Rules to kick start your trading year
Not another blog post of some glorious trading rules. But, here are couple of things that I have learnt (some of them, in the hard way) from the past. So , this blog post is really meant for myself as constant reminder, and maybe, help some of my 13 readers.
Stop Changing approach, Give yourself some time.
I shall admit that, I had this problem. One of the key “discovery” of mine was really to stop changing, stop trying to “improve” something. Stick to one, during good time, and bad, master it, journal, repeat and repeat. You need time to master a skill, you need time to master a strategy, in other words, you need time to be a master of something. Stop changing approach, get good with it. You need data to analyze, you need trading records to evaluate, constant changing your approach gives you nothing to work on.
Journal it. Give yourself a chance to grow.
Face it, your memory sucks. You thought you have learnt the lesson, but after a couple of weeks, or months, memory fades. Write it down, record them, like it or not, just do it. You will need it later. Again, you will REALLY need it later. Be as detailed as possible.
Stop micro managing your position. Give your position time to work.
Give your trade time and space to develop. As matter of fact, in my day trading, I prefer let the target hit, or let the position stopped. Taking partial profit, move stop to break even etc hurts your long term expectancy if you don’t know what you are doing. Do your math, before implementing these strategies. “Feel better” is not a position management strategy. You can do better than that.
When you are not a master, stick to one market.
Even a season professional focuses on limited number of markets during the session. Face it, if you can’t make money focusing one market, your can’t make money looking at 2 at the same time. The “afraid of missing out” symptom will make you miss out more. Stay focus.
That’s it. You can always come out with another long list of rules (who doesn’t love trading rules? They are cheap), the key is really be a master. Start with the simplest thing and master it. To end this blog post, here is the quote from Bruce lee:
I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.
Good trading.
My Weekend reading list: Saturday ,18 January 2015
Here are the articles in my weekend reading list.
Reaching Your Goals in the New Year: Wishing readers a happy, healthy, and successful New Year! TraderFeed will start the new year with a series of posts on best practices, including those submitted by readers. Perhaps one or more of those best practices will help shape goals for you in 2015. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2014/12/reaching-your-goals-in-new-year.html
Uncertainty is not the same thing as risk: Often, the most important work we do doesn’t bring a guaranteed, specific result. Usually, the result of any given action on our part is unknown. Uncertainty implies a range of possible outcomes. – by Seth Godin – Tags: traders development – http://sethgodin.typepad.com/seths_blog/2015/01/uncertainty-risk.html
Best Practices in Trading: Conducting Trading Reviews: Deliberate practice is a process in which we continually evaluate performance and use those evaluations to make targeted efforts at improvement. Research from Anders Ericsson and others suggests that deliberate practice is essential in developing performance expertise. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2015/01/best-practices-in-trading-conducting.html
The Trader’s Journey: The Hero’s Journey: This post was originally published on See It Market as part of the Market Masters series. The original post can be found here.] I am a quantitative-discretionary trader. – by Adam – Tags: traders development – http://adamhgrimes.com/blog/traders-journey-heros-journey/
How to Be an Expert in a Changing World: If the world were static, we could have monotonically increasing confidence in our beliefs. The more (and more varied) experience a belief survived, the less likely it would be false. Most people implicitly believe something like this about their opinions. – Tags: traders development – http://paulgraham.com/ecw.html
Creativity is the New Discipline: One of the central themes of my new book is the importance of creativity in generating trading ideas with an edge. What I call Trading Psychology 2.0 emphasizes flexible adaptation to changing markets, not rigid adherence to static trading methods. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2014/12/creativity-is-new-discipline.html
Fighting for Tomorrow and Living in it Today: A shoutout to Adam Grimes for a thought-provoking post on the development of the trader as an example of the hero’s journey. Adam’s point is that, as we move from lesser to greater competence and expertise, we are inevitably tested. – by Brett Steenbarger – Tags: traders development – http://traderfeed.blogspot.com.au/2014/12/fighting-for-tomorrow-and-living-in-it.html
5 ways to improve your trading today: Markets are complicated. Market analysis is complicated. Developing a trading system certainly can be complicated. But trading cannot be complicated. The act of placing trades and evaluating results must be as streamlined and simplified as possible. – by Adam – Tags: traders development – http://adamhgrimes.com/blog/5-ways-improve-trading-today/
The Line You Cannot Cross as a Trader: http://www.smbtraining.com is a Proprietary Trading firm located in NYC that specializes in trading equities. Our training programs were designed to help you develop the trading skills to become a consistently profitable trader. Written, video and classroom lectures are offered through SMB U, our ed – Tags: traders development – http://www.youtube.com/watch
Five Things You Can Do Today to Improve Your Trading: As we all know, the road to trading success is a long road, and the path is not at all straight. To achieve some degree of competence can take years, and I think it really probably takes a decade to achieve some degree of mastery. – by Adam Grimes – Tags: traders development – http://adamhgrimes.com/blog/five-things-you-can-do-today-to-improve-your-trading/
Enjoy, and have a good weekend.
Keep Learning, Keep Trading.
Gav
Day Review: YM 14 Jan 2015
Major movement of the day was during pre-open when economic releases were scheduled. 3 setups were observed during RTH. Looking at at hourly chart, I was targeting the major swing low 17177 to be visited.
The first setup was when YM revisiting VWAP, and at the same time it was the first test of supply level around 17404. With price projection, I was targeting 17283 which was also near Globlex session low.
Second trade was a text book trend line retest with confluence of supply zone when YM traded back to developing value area low around 17382 . I expected price to go lower.
Third trade was when intraday downtrend line was broken. Over and under formation at the developing area low around 17281. This was a mean reversion trade, targeted to revisit VWAP.
That’s all for the day.
This series of ‘Day Review” posts will be completed this week, as I have pretty much outlined/showed how I trade index futures. I will still be posting daily review charts under “Chart-Folio” section, but without too much written explanation.
