Not publicising for wallstrip.com, because they are already well known enough.
Check out this video clip for 18-Oct-2006, ADOBE. The funniest ever.
The wallstriper has done a good job. It is my daily reading blog.
Blog and Rants
Internet Addiction May Soon Top Alcoholism
I trade online, I blog, and I read blog and check email on my PDA when I am in the train! But, I never hide…
From www.woai.com
A new study indicates the US could soon have an illness just as bad as alcoholism – internet addiction.
Researchers at Stanford found that 1 in 8 Americans has at least one sign of “problematic internet use.”
They said what’s even more disturbing that some people hide their internet surfing much like some alcoholics hide their drinking.
Another warning sign is when people use the internet to get out of a bad mood.
Postmortem 18-Oct-2006
Dear diary
After watching pre market of Dow futures, I thought I would have made some trades today.Well, at the end of the day, I did not make any trade. There was no low risk dummy set up.
Just how limited is my trading toolbox. I basically did not know how to trade under this kinda situation. Gap up, down, filled gap, then up. Well, “Don’t know what to do? then don’t do”.
I guess there should be a lot of actions in stocks trading. I am going to check out blogs in my blogrolls now.
Be a better trader.
Survivor tips for trading U.S market from Asia
Trading U.S markets from Asia is interesting. We have different time zone, so I am keeping my day job as a IT professional crew and do my “full time” trading at the evening time. I normally get to my bed around 1am or 2am.
Here are some ‘survivor’ tips I have gathered and experienced after few months of active daytrading. I guess Eyal might have better tips since he has been trading from New zealand and Singapore now.
- Water! Drink plenty of water during day time. Keep my body hydrated at all time. (this is tip from my Mum since I was 3 years old)
- Cut down caffeine consumption during day time. I limit myself from sipping 2 cups of coffee a day.
- Cut down my carbo and serving portion of dinner. Heavy dinner makes me sleepy. I have cut down my size of dinner by half. Sometime, I even share with my fiancee.
- prepare some light food, like small cakes (please, I mean small) or cookies.
- Hit Da gym! I maintain at least twice a week of cardio and weight training. Though I still fail to get my six packs, at least , I got my heart beating smoothly and maintaining my waist line.
- Heavy and nutritious breakfast. This is to pump up myself for the day’s work.
- Pop in multivitamins everyday. This is a must.
- Do a cat sleep after lunch in office. Make sure I am energetic enough for afternoon’s discussion.
- Absolutely no alcohol allowed. Well, a couple of beer during weekend is fine. My last taste of alcoholic drink was 6 months ago. And I don’t feel missing anything.
After all, trading U.S market from Asia is still bad for health. I am just doing something to reduce the possible damage. I need a healthy body to spend the money I make from trading.
Postmortem 17-Oct-2006
Dear diary,
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Manchester United rocks! I know Rooney is getting back to his best form soon. Go Man U go!
I did not have any trade for ‘Trades that got away’ posting today. The only low-risk dummy trade was the YM trade. Looking at the charts of index futures in my watchlist (ER2, ES, NQ, YM), we again had a ‘mid day reversal’ action. Gap down, sold off, BANG! rebounded. I would have been stopped out at break even if I did not exit my trade according my plan.
Not so much to write home. Some profit in pocket and a better trade.
Michelle B wrote another good post at TraderMike’s blog. She wrote something about rules :
Having rules, and some traders have many, is not the same as being disciplined. A disciplined trader follows his rules, while a trader who has rules may not necessarily be disciplined enough to follow them.
How true. A long list of time tested rules are useless if I am not following in.
Be a better trader.
Dummy day trading #36 17-Oct-2006: YM Long trade closed
Dear diary,
Market seems to know my frustration(just fed up with them) over those people who are questioning dummy trading. It gave me some small rewards today. Short position of YM was established below the low of 6th candle (945am NY time candle). That was a fast trade. Target at Fib extension 61.8% was achieved at 8th candle.
Cash market was losing -90 points. I chose to close my position since first target was hit. One trade closed with 2.38-R gain (27 YM points gain)
Trade Grade:
Trade score: 1: Target hit
Execution score: 1: Followed trade as dictated in my plan
Here is the beauty. Kiss her.
- Is the trend up or down? Would you be looking to get long or short this futures contract? That was a big gap down. Looking to get Short
- Where would you get long/short this futures contract ? Below the low of 6th candle (945am NY time candle) which was below Opening Range low and resisted by 5-MA.
- Where would you put the initial protective stop? Above high of entry candle (High of 6th candle)
- Where would you exit the position? Fib extension 61.8% and 100%
Be a better trader today.
