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reading

Reading: Trend forecasting with technical analysis

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Thanks to Jay, the lonely trader for sharing this finding on scribd.com. Enjoy reading!
Trend Forecasting With Technical Analysis
Disclaimer: I am not the publisher of this book, this book is available on scribd.com and it is shared on this blog by using the sharing functionality provided by scribd.com.

[Update 17 July 2010]: After this blog post was tweeted, I received an reply from Andrew

A little bit of value in there, but the majority is a setup and pitch for Vantagepoint. Murphy’s intermarket book much superior.

Reading material: Hidden Divergence

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Here is another article I found on scribd.com I thought it is worth reading. Hidden Divergence.

Just as classic divergence does not appear on every price chart, so it is with hidden divergence. But when they do appear, they are worthy of attention. The trick is to train your eye to recognize one when it presents itself.

Again, I am not the publisher of this article, but using the sharing functionality provided by scribd.com.

Enjoy!
Forex

Reading materials: Elliot Wave

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I recently become a fan of Scribd.com. There are some really good reading materials contributed by the community. I have filled my Amazon Kindlewith some new books and this should be enough for my ‘consumption’ during my trip.

Here is one about Elliot wave theory. While, I am not EW practitioner, I do read about their theory. It is good to have understanding about different trading style. Anyway, I need to clarify that I am  not the publisher of this book, but just using the sharing functionality provided by Scribd.com.
Elliot Wave Course

In addition, To learn more about Elliot wave, you might want to check out the free reports The ultimate technical analysis handbook and How to use bar patterns to spot trade setup by EWI

Quote from Victor Sperandeo

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In his book Trader Vic: Methods of a Wall Street Master, Victor Sperandeo mentioned:

As an aside, I want to point out that although this period of intensive study helped me immeasurably in my ability to call the markets, it cost me substantially in my personal life. My daughter, Jennifer, was at a crucial formative age (3 to 5), and I spent almost no time with her. I would get home from the office, eat, and go straight back to work in my study. When she came into my office, I would shoo her away impatiently, totally ignoring the fact that she needed her father’s attention and love. It was a bad mistake that both of us are paying for today. If I had to do again, I would draw out the study period and give Jennifer more time.

After reading this paragraph, I have been doing a lot of thinking. I’m not sure if this is a common mistake among traders, I, sometimes, make the similar mistake. We know this business requires a lot of time, effort, attention, but our loved ones require more.

Just being a little bit emotional. Anyway, this book is really a good read. If you haven’t done so, go and get one.

Post du jour: My worst winning trade,ever

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If you haven’t done so. I would suggest you take some time to read Caravaggio’s post ‘ My worst winning trade, ever‘. A very well written, and “thrilled”. Go read it.

It is the worst winning trade ever, perhaps my worst trade of my life.

This trade reminds me of how I felt after I narrowly escaped a car crash. I was on the motorway, on the way to the airport, and looked up at the signs to see which lane I should be in. By the time I looked down, the cars ahead of me had come to a near stand-still and I was still going at full speed. I slammed on my breaks, locked my tires, and skidded forward, heading for a direct crash with the car ahead of me. I managed to swerve out into the left lane and escape the head on collision, but it was an instinct reaction and I hadn’t had the time to look to the left lane to check for traffic. That instant, I heard a loud horn from a truck that had been coming up on the left. I had missed both the car in the middle lane and the truck on the left lane by fractions of a second. At the next junction, I pulled up and got out of my car. I looked around, totally bewildered. I had narrowly missed a major accident.