Wednesday, November 30, 2011

Here's an Idea on How to Keep Out of Choppy Markets

"It is absolutely necessary to have an edge."

Jack D. Shwager
The New Market Wizards: Conversations with America's Top Traders [Paperback] 1992

Wouldn't it be nice if you could get money to flow into your head continuously? Or else, maybe I could get ideas that would make me money all the time - instantly.

Tuesday, November 29, 2011

Fear and an Earlier Counter-trend Entry on EURUSD 1Min ...creates a Reverse Trifecta.

"You can use your fear as a cue to examine your trade more deeply and adjust your confidence in the idea, up or down."

Brett N. Steenbarger
The Daily Trading Coach: 101 Lessons For Becoming Your Own Trading Psychologist, 2009, (Wiley Trading)

I have been working hard at reducing fear when I take my trades. Fear creeps up on me - usually after a losing streak. Come to think of it, even after a winning streak because I am wondering when I will give it all back.

Wednesday, November 23, 2011

Swimming upstream, and following the flow of the market.

Salmons swim upstream, re-adapt their bodies to fresh water and then they spawn.

My trading life is not as dramatic as the Alaskan salmons. I certainly am not looking to spawn and leave my body as bio-fuel for my kid. I just want to collect some pips. But there are times like today when I do change my spots and go with the trend.

In all honesty,  I was waiting for a counter-trend trade...

Monday, November 14, 2011

I'm fighting back the direction of the trend.

"What counts is not necessarily the size of the dog in the fight - it's the size of the fight in the dog." ...Dwight D. Eisenhower

For the last week and a half, I have been having some pretty strange trading days. It's been a roller-coaster ride with break-even days and loss days.

Notice I didn't say win-days.

Thursday, November 03, 2011

Camping out with a counter-trend $EURUSD on Monday morning

.Trading is a lot like camping.

You pick a spot. You set up a tent. And you might even build a fire.
Really, all you want to do is to enjoy the great outdoors.

But.....sometimes there are bugs. Sometimes you can't find a loo.  And sometimes it even rains.  Sounds familiar?