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Make Money Everyday - A Guide to Short-Term Trading

  • #1,161
  • Jul 22, 2012 9:09pm Jul 22, 2012 9:09pm
Well as we jump into this week, just want to share a couple pieces that I read recently that I enjoyed.

http://www.forbes.com/sites/fabienne...nd-self-doubt/

I know that fear can creep into a trader's mindset. Good little article. I really have two things that I use to combat fear. 1 - Being detached from my trading. I am not my trades. Trading is something I DO - it is not who I am. 2. The way out of fear is through it. No sense in trying to avoid fear - Can't make any money doing that. So the way out of it, is through it, like she says in the article, Feel the fear, but do it anyway.

http://www.tradingpitblog.com/2011/0...peculator.html

Great piece. Embrace being a speculator!

Also, just got home from seeing Dark Knight Rises. Very much enjoyed it.

Mongolian
  • #1,162
  • Jul 22, 2012 10:47pm Jul 22, 2012 10:47pm
Hi Mongolian,

Thank you for your time and effort. I came across with your journal a couple of days ago and very interested in it.

Are you getting ready to trade now?
Can you post the preparation master sheet for the upcoming day?

Leelar
  • #1,163
  • Jul 23, 2012 9:21am Jul 23, 2012 9:21am
Quoting leelar
Hi Mongolian,

Thank you for your time and effort. I came across with your journal a couple of days ago and very interested in it.

Are you getting ready to trade now?
Can you post the preparation master sheet for the upcoming day?

Leelar
Thank you for dropping in. I was not getting ready to trade then, I usually trade NY session. Occasionally if nhen or others can convince me, I may get up for London - but that hasn't happened in a while.

As far as preparation master sheet??? Not sure what you are referring to. (But I am a self-professed slow learner - so it may be obvious and I just don't get it).

Hope every one has been sellers so far!!

Mongolian
  • #1,164
  • Jul 23, 2012 4:48pm Jul 23, 2012 4:48pm
Thanks for the reply.
What I meant was, let's say now it is 5:45PM EST, you are going to start your trading. You start by preparing the master sheet by going over from yesterday's 5pm to today's 5pm's chart. After you finish the 24 hours of previous day's chart(sheet), then you can determine the 'trend' and start trading, right?

Can you post today's master sheet so I can follow?

Thanks a million.
  • #1,165
  • Jul 23, 2012 11:07pm Jul 23, 2012 11:07pm
Quoting leelar
Thanks for the reply.
What I meant was, let's say now it is 5:45PM EST, you are going to start your trading. You start by preparing the master sheet by going over from yesterday's 5pm to today's 5pm's chart. After you finish the 24 hours of previous day's chart(sheet), then you can determine the 'trend' and start trading, right?

Can you post today's master sheet so I can follow?

Thanks a million.
Gotcha. This is how I see things since PA opened for me on Sunday night. I marked an arrow at the point where PA closed on Friday afternoon. I do not usually included any gap openings on my charts as that tends to give me a false indication. That's just my personal preference. Besides - it's not really a gap "opening" - currencies trade all the time, including the weekend, it's just that most brokers are closed for trading. So when retail currency traders get their charts up and they see this 'huge gap' - it's really not. Well enough soap-box there.

So by my count, had someone been trading non-stop since the 'open' there were easy 15 or so quality 12 pip trades, a handful - less than 6, instances where I'd have been stopped out.

Now, this doesn't completely show it, but the trend has been down as of late. So I know this going in - that yeah - the good money has been on the short side. Does that mean I can't be long? It does not. It does mean however, that when I do get a setup to buy, I'm not messing around on those, they have pretty much zero wiggle room. Either PA does what it should on the setup or I'm out and I'll wait for the short setups to come back.

Hope that helps.

Mongolian....a.k.a - The Slow Learner.
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  • #1,166
  • Jul 26, 2012 10:47pm Jul 26, 2012 10:47pm
Quote of the day...

“The only thing standing between you and your goal is the bullsh*t story you keep telling yourself as to why you can’t achieve it.”

Enjoy.

Mongolian
  • #1,167
  • Jul 28, 2012 6:14am Jul 28, 2012 6:14am
Quoting mongolian
Thank you for dropping in. I was not getting ready to trade then, I usually trade NY session. Occasionally if nhen or others can convince me, I may get up for London - but that hasn't happened in a while.

As far as preparation master sheet??? Not sure what you are referring to. (But I am a self-professed slow learner - so it may be obvious and I just don't get it).

Hope every one has been sellers so far!!

Mongolian
I missed all these recent posts.. wasn't notified.

Will read those articles next week and yes rarely see you around for LO!


Quoting mongolian
Quote of the day...

“The only thing standing between you and your goal is the bullsh*t story you keep telling yourself as to why you can’t achieve it.”

Enjoy.

Mongolian
Love this
  • #1,168
  • Jul 28, 2012 7:10pm Jul 28, 2012 7:10pm
I was going to put up a chart from Friday, but I just can't seem to get it done. Anyone got one they want to share?

M
  • #1,169
  • Jul 28, 2012 7:30pm Jul 28, 2012 7:30pm
Here's mine.. Only a few trades for me and I went out.

First one I closed at BE only watch it fall to my PT (when will I learn..).

Last trade for me was the second short off 2275.

Hope everyone's enjoying their weekend!
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  • #1,170
  • Jul 28, 2012 9:16pm Jul 28, 2012 9:16pm
Here are a couple more sites that I have come across that I like.

http://www.chicagosean.com/

http://pointsandfigures.com/

@nhen - thanks for the charts. Let those trades run baby!
  • #1,171
  • Jul 28, 2012 9:23pm Jul 28, 2012 9:23pm
One more, this is probably one of my favorite sites. This guy just flat out calls it like it is.

http://market-ticker.org/
  • #1,172
  • Aug 9, 2012 10:23pm Aug 9, 2012 10:23pm
Here is a chart of PA for past week. This is a higher level view, a 400 tick chart with only the .25 levels drawn. IMHO, it's a thing of beauty.

Mongolian
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  • #1,173
  • Aug 29, 2012 10:02pm Aug 29, 2012 10:02pm
Volatility oh how I miss you....
  • #1,174
  • Aug 30, 2012 9:32am Aug 30, 2012 9:32am
http://traderhabits.com/do-confidently/

I like this site. Good post yesterday.
  • #1,175
  • Aug 30, 2012 8:09pm Aug 30, 2012 8:09pm
Quoting mongolian
Here is a chart of PA for past week. This is a higher level view, a 400 tick chart with only the .25 levels drawn. IMHO, it's a thing of beauty.

Mongolian
Hey mate thanks for the chart and wise words


Quoting mongolian
Volatility oh how I miss you....
  • #1,176
  • Aug 30, 2012 8:12pm Aug 30, 2012 8:12pm
Quoting mongolian
http://traderhabits.com/do-confidently/

I like this site. Good post yesterday.
And I dig that post.
  • #1,177
  • Sep 8, 2012 9:21pm Sep 8, 2012 9:21pm
You'll like this mate, worth the read!

http://newyorkfed.org/research/staff_reports/sr125.pdf
  • #1,178
  • Sep 18, 2012 4:42pm Sep 18, 2012 4:42pm
anybody home?
  • #1,179
  • Sep 18, 2012 10:08pm Sep 18, 2012 10:08pm
Quoting enochben
anybody home?
Yes..

Charts from last night possible trades.
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  • #1,180
  • Sep 19, 2012 7:33am Sep 19, 2012 7:33am
Quoting nhen
Yes..

Charts from last night possible trades.
Good looking charts. PA has been fabulous - so glad summer is over!
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