It is Thursday! It is options expiry Thursday. I will be taking Thursday and Friday off. Instead of trading , I am working on some programming in Tradestation. Playing around with EasyLanguage and code some simple alerts and indicators. Trading in the evening time is tiring, so I guess some alerts help to keep me awake when opportunity appears.

Some observations after reading blogs: I found some common traits among traders (those appear in blogsphere) who do well (at least from the trades they have posted) like Trader-x, Estocastica, Maoxian, Tom.C etc though they might have learnt some skills/ideas from other traders or mentors, the key point is, they have developed a set of strategies by their own. There might be similarities, but there is always something unique from each of them.

I am kinda lazy to continue writing on this topic. The key point is, you wanna use an indicator? please open up the source code, read it, and understand what the heck is inside. You wanna learn a trading strategy, read it, understand it, and make it your own. Yup, your own.

Just some random thoughts.

So boring~ ES is staying flat, well, hovering around 1400. When there is really nothing to trade. Don’t trade

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I was playing Chinese Chess at XiangQi Club . I am a lousy chess player. Now it is time for me to pick up this game. Ok, I am going to have another game before I call it a day.

??!

I have just finished writing my journal for Tuesday’s trade. I ended the day flat. And, in fact, it was a nice trend day for ES (E-mini S&P). I mean for day trader. I missed the move in the morning as mentioned in my previous post. I did some quick scalp trade after that.

What is my problem? Choppy day , not making money. Nice trending day, not making money as well? What the hell I am doing? Staying up in the wee hour for …nothing?

After completing my journal, I see the reason. I was not confident with my own strategy. Ok, I have developed some new strategies. (by the way, it is still dummy trading though).? I am not going to discuss my trading strategy on my blog. It is useless. Back to the topic. I saw nice setup, and I had doubt. I just can’t pull the trigger.

Second trade of the day, again a nice setup formed. I pulled the trigger. And? I scratched the trade with some reasons (I just farted, so I closed my position, something like that..). This again shows the problem. In addition of lack of confidence, I was not willing to accept the feeling of taking loss.

You have a plan, but you need have a right mindset to execute it.

Alright, enough, I see the problem, now go solve it.

It’s MONDAY!

The market has its own way to operate. It doesn’t care what Michael, John, Richard, J.C or even Gav are thinking. It is like a flowing river, who cares if you are swimming, fishing, bathing or even committing suicide? Everybody get what they want from the river. Get involved with your understanding of the market, and deal with it with a plan, your own plan.

OK. It’s MONDAY.

Have a profitable day.

Another boring day for dummy trade, I did not find any nice entry. I was trying out scalping strategy and basket order of Tradestation. Well, I was stoppped with $50 dollar loss. 😉

Tapeworm at Taleoftape did pretty well this week. Go check out his blog. And of course, J.C, the scalper’s blog is my must-read everyday. You will learn something from him, and…maybe feeling jealous of his performance sometimes. 🙂

I am not posting weekly performance for the time being, as I have made too little trade (less than 5 trades a week). So I will accumulate it and do a monthly review instead.

Hope I got some spare time to catch the new 007 movie today.

I can’t find any nice trend in the morning. And ,I was exhausted, so I called it a day earlier.

Some sell down in the afternoon. Flashing back the charts, still can’t find my setup. No trade,but I won some sleep.

I have been studying some scalping strategies, hope to start couple of them soon. Different from stocks traders, I have to slowly add in strategies to my trading tool box, since my trading candidates are kinda limited.

Time for coffee now…