I love this chart. What do you see in this chart?
Have a great trading week ahead!
A blog post and something about stocktwits
I read a recent blog post on TraderFeed. This caught my attention, echoing my mind.
Traders need to develop ways of seeing markets that are unique to them, that make sense for them, that fit their risk tolerance and lifestyle, and that best make use of their skills and talents. Simply giving traders ideas could actually stunt their development, much like doing a child’s homework for them.
An important challenge in trading is that there is typically more valuable information streaming from markets than a single individual can reasonably process on their own….
That is the main reason why I hardly, or never use service like Stocktwits. OK, I am not against Stocktwits. It is a brilliant idea from some entrepreneurs. But, is it really useful for trader’s development? Well, Caveat emptor. Personally, I do not find it to be useful for my own development. To me, it is just a stream of random tweets, good or bad of so called ‘trading ideas’, valuables and junks, marketing of premium services, repeated links etc. But, this is just me. I believe, some users are finding it to be helpful to them. By all means, go for it. I’ll leave it to you to decide, and please, do not try to argue in the comment why I am wrong. I don’t care.
Instead of wasting time following somebody, I guess, it will be better off for trader to be away from social networking, and develop his own view, own way of seeing markets. With that skills, then the streams of tweets might give you some good ideas.
Federer’s game
It was a shaky performance at the begining. I am talking about Roger Federer’s match with Lleyton Hewitt. Federer’s forehand, and backhand were out of control. It looked really dangerous, and he lost the first set. But, you know the result, Hewitt lost the 13th time.
OK, I am not a tennis player, so, I am not trying to discuss any technique here. I am a trader, so here is what I observed from the match. He knew his forehand and back hand strikes (do we call it strikes?) were unusual, kinda out of control. However, that did not stop him from trying. Again and again he hit the ball, and tried to gain back the rhythm that he needed. He was not afraid of hitting the ball again even though he had failed so many times. I was impressed.
When you have 3, 4 or 5 losses in row, do you start doubting yourself ? The message is pretty clear.
By the way, Maria is out….what the…..never mind…
Updates, Social Networking shutdown & U.S Open
First of all, I am actually enjoying my current social networking shut down mode. I have not logged into Twitter for a week or so. And I don’t feel anything missing nor I miss anything. So, let’s see when I feel like tweeting again. Never mind, who cares?
Trading front, nothing new, I am still trading well as usual. Nothing special to report. Boring job.
I am following U.S Open closely, and I am in fact, paying the cable service just to watch the match and replay of the matches. I am not going to make any prediction, because, as usual, champion is going to Roger Federer, while, for women title, I just hope Williams sisters get kicked out, I think I am not asking too much. 🙂
As we speak, I am watching Maria Sharapova Vs Mchale. It is interesting to see that, the camera man caught a shot that Maria was holding her fist tight, looking serious, and maybe, nervous. But I think she is going to win. This got me thinking about trading.
During the game, it is all about you. Pushing yourself to the peak is all you need to do. There is a little to none margin for mistake. You missed a shot, you lost a point. Making mistakes repeatedly will just end your match, and to the worst, end your career. You can tell people, you have been working hard, you are having bad time with your shoulder etc, yes, but sympathies do not earn you anything.
There are still a lot of points, but I am just too lazy to write, things like consistency, having a game plan for different opponents etc.
OK, you got the point.
Go Maria.
The fun Burger Dinner evening
We had a very nice dinner catch up at my friends, Jon & Debs’ place. The newly weds are always kind and with good cooking skills. I seriously think that they should open a cafe/restaurant. The dinner was fun, delicious, and healthy! Materials were bought freshly from farmer’s market, and burgers were made by grassfed beef. And, we also tried out some new coffee making ideas. I don’t exactly know the name of the equipment, but it is type of filtered coffee.
Here are some shots taken by my iPhone. Great fun.
Saturday, updates
I am holding my short position of EURGBP right now. This is an interesting trade, probably because of the intense converstation between me and Davidpotts on Twitter. He is out from the position now while I am still holding on. Let’s see how it works out. So far, I am still convinced that EURGBP is overbought. I will let the market take me out if I am wrong.
Increasingly, I am getting more and more uncomfortable talking about details of my trade on Twitter. Firstly, I never intend to offer free entertainment or education (if there’s any 🙂 ) service to silent readers. And the only purpose I can see the fellow twitters doing so is to attract readership of their premium services, or paid newsletters subscriptions. I offer none of them, anyway.
I like the discussion like the ones I had with David but, keep the conversation public is not something that I am confortable with. Not sure what am I going to do next.
Anyway, one trading day left for the month of August. This is a relatively quiet and not so impressive trading month. Looking at my monthly report, I stay rather flat at the moment. Let’s see what September brings to us.
I am looking forward to tonight’s home cooked Burger dinner at my friend’s place. It is always nice to catch up with friends. Here is the menu I’ve received
Entree
Be surprised!
(fact is we havent figured that one out)
Mains
Pommes frites
with a choice of rosemary or truffled salt (i.e. French fries)
Hamburg steak
(i.e. hamburger)
It also comes with a free burger bun,complimentary condiments, pickles,salad…
(no we dont charge for tomato sauce and mustard)
Dessert
A really mean A&W root beer float with vanilla ice cream
