Cashflow today with Bernie Lo

cross ref: anatrader.com

US Stimulus Will Help Asian Corporate Bonds

Mon. Sept. 5 2011 | 10:20 AM[04:10]

Tim Jagger, head of Asia credit strategy at RBS, believes that last Friday’s dismal jobs report will result in more economic stimulus and pr…

Monetary Easing Will Be Positive for Gold-Ray Barros

Mon. Sept. 5 2011 | 11:10 AM[07:39]

Mike Harrowell, senior resource analyst at BBY, believes that any sign of QE3 would be positive for gold prices, both because of the implica…

China’s Growth Will Moderate-Ray  Barros

Mon. Sept. 5 2011 | 11:20 AM[03:18]

Phillip Chan, director of Shenyin Wanguo securities, likes the Chinese healthcare, materials, consumers and energy sectors.

Trading Matters – Ray Barros

Mon. Sept. 5 2011 | 11:40 AM[05:43]

Simon Robinson, investment advisor at Wilson HTM, still believes that investors should be long on resources and generally underweight on fin…

Asian Valuations More Attractive Now

Mon. Sept. 5 2011 | 10:00 AM[05:53]

Andrew Pease, investment strategist (Asia Ex Japan) at Russell Investment Group, thinks that Asian stocks’ current valuations is still

One Day Reversal?

BarroMetrics Views: One Day Reversal?

Q: When is a  one-day reversal not a one-day reversal?

A: (Tongue-in-cheek) If it does not occur at a Barros Square (G)!

I am not a fan of a the one-day reversal pattern UNLESS it occurs within a context that supports the reversal. This is different say to a Head and Shoulders pattern where I am more likely to sit up and take notice even if not within a zone of reversal.

I mention that one-day reversal because we saw the pattern on Aug 3; and while the strong volume that day did cause me to pause and reflect, I decided that that one-day reversal was a bear-fake. There was nothing to suggest in the structure or zone that the down move was likely to terminate.

Yesterday’s one-day reversal is a totally different ball game:

  1. FOMC is due tonight and I expect the FED to say something to boost the market. Rob Hanna’ great study “Guide to Fed Days” shows the strong bullish edge for today.
  2. The S&P is at a Square Support.
  3. The price action of Aug 8 suggested we’d see a bounce on Aug 9.

The question now facing a trader is: assuming a bounce, where can we expect resistance?

FIGURE 1 shows the most likely candidate is the zone 1225 to 1220. This is a zone where the retracement of the down move and the Primary Buy Zone of the prior congestion meet. (All prices cash S&P).

I do have a cycle low due Aug 25 to Aug 29 and a cycle high end Sept/early Oct.

18d.png

FIGURE 1 Cash S&P

Habits v Rules of Success

Cross ref:

http://anatrader.com/?p=1006

Rules v Habits of Success

This is one post that should reinforce what have been taught by Ray Barros in his first Habits of Success course with hand-holding for this year.

Among the students are a few who still believe in the ‘silver bullet’ – the silver bullet that makes every trade a winner.

There are no Silver bullets in the trading business. After thirty years if there was one  our mentor Ray  would have found it!

Hence, the need for a course that has been put together :  Habits of  Success with intensive hand-holding for a month live.  For the next July HOS seminar, there will be additional hand-holding on the net to lend support to the students who are still unsure of the principles.  With each HOS seminar held, it is the intention to improve  after observations of what could be the missing  link to make trading easier.

Briefly, to be successful in trading:

1) Spend  at least an hour  a day to look for possible trades with your charts.

2) Once the trade is entered,  keep your stops tight to insure a winner does not turn into a loser.

3) If you are stopped out, look at it as the first step to your next winner.

4) Keep an equity as well as a psychological journal.

5) Keep working at your course notes, videos, etc  until internalized to form natural habits.

6) Always maintain your discipline.

Hope this will help not only HOS students but newbie traders to work hard to achieve trading success.

There is no free lunch, so to speak.

Your Well-wisher

IDkit aka Ana, Ag Moderator

Impressions of Newbie Traders

 Class of HOS March 2011

cross ref

http://anatrader.com/?p=786

group-class-hos-mar-2011.jpg

Most of the attendees in the pix

Cross ref

http://anatrader.com/?p=816

My Impressions of Newbie Traders

Having attended quite a number of seminars or presentations this year, I have come away with a few impressions.

There are those who are at every free seminar or presentation in town.  They believe by attending these freebies, they will be well equipped to be a trader.  At the other extreme, are some who when asked why they are there, would say something like:  It’s fun to trade!  I am not sure what this really means; is it really fun or hiding behind a string of losses?

Trading like any other profession is hard, if not the hardest profession.  If you are jaded by the shenanigans of the market,  you have to change, to pursue  new information. You have to persist, educate yourself, and be prepared to practise your skill for some years in a positive environment.

Genius is not innate but trading genius is created through hard work and practice.  The  new traders seem not to listen or to believe when  this  piece of advice  is impressed upon them at a preview.

Effective trading is defined by the right habits you form.  It is a deliberative process and this brings me to the Habits of Success seminar which is to be conducted twice a year in Singapore starting this year.  After careful deliberations and observations of the seminars conducted over the last 7 years in Singapore, Ray Barros, a hedge fund manager, trader and educationist, has put together a Habits of Success (HOS)   course with intensive hand-holding for 4 weeks and support on the web for another 4 weeks for the second HOS in July 2011 for Singapore attendees.

The first HOS course in March 2011 was so successful and effective to these students that all seats are fully taken up for the July course, almost by word of mouth.

The aim of this course, part of  the series of module of BarroMetrics,  is to teach and train newbie traders to form good habits of success to trade effectively.  Hopefully they will graduate to higher levels of BarroMetrics like Barros Swings to qualify for a career in trading with a Prop House set up by Ray Barros or any other Prop House.

Who knows they may be the first cohort to graduate from a school of trading that aims to be the making of a Harvard Trading School.

IDkit aka Ana,  Ag Moderator

Why Wyckoff?

Cross ref

http://anatrader.com/?p=786

group-class-hos-mar-2011.jpg

As a bonus to those who attended the last presentation by Ray at Phillips and who registered on a first come first serve basis, Ray  hosted a talk on Wyckoff tonight to make up for the broadband issue at the Phillips talk.

Here are some video clips on Wyckoff  to enable the students to have points of contact.

Wyckoff model

http://youtu.be/lrSU_9A-t3s

Normal state of affairs

http://youtu.be/al9o3C8QmTw

Abnormal state of affairs

http://youtu.be/ktZNL3WcMEg

Law of cause and effect

http://youtu.be/HyhDzMubtR4

Greatest contribution

http://youtu.be/kMRiKug8cLc

N Vol v  N range

http://youtu.be/8e2znQuHY80

Trending  3-6 months

http://youtu.be/F5xh6bs5KzI

Preliminary Point of Supply

http://youtu.be/MCH7B4_NZjo

Point & Figure charts

http://youtu.be/XBKqC3Yrnsw

Basing actionhttp://youtu.be/V0FQ9yiSCoE

Shortening of Thrust

http://youtu.be/4M9TUIIwo5U

Selling climax

http://youtu.be/8jrZZ1mCopw

U-shaped v clock

http://youtu.be/FVwByKplZaE

Ray impressed upon students not to confuse some of Wyckoff’s principles with some HOS methodology taught.

IDkit aka Ana, Ag Moderator

The Penultimate Session!

Owing to the long Easter Weekend recently, Ray feels he should make up for the loss of two sessions the students missed.  So last night was the penultimate session when he gave a brief lecture to cover the process of putting on a trade.  From the questions he put to them, some are still foggy about certain KRPs for example.

The last session will be held on Thursday night when we intend to close early so that the students can have some kind of party as initiated by cheeky student Paul Shew. If I know him, he has some surprise up his sleeves and we will certainly close the session with a Big Bang!

BTW Singapore is going to the polls on Saturday and I do not have to vote as my Tanjong Pagar GRC is a walkover under the leadership of  First PM Lee Kuan Yew, now Minister Mentor Lee.

Speaking of elections, did you know that our Mentor Trader Ray Barros entered politics in 1977 in the Australian GE?  He was standing for Macarthur constituency for the Workers Party, more a Tea Party philosophy of Ayn Rand unlike our  Workers Party.   To his surprise he garnered the highest votes among the Independents.   Not bad.  We should ask him why he gave politics up after this victory?  perhaps at the party?

 

Here are some video clips to help   fill the gaps of learning for  the students in their revision:

Tubbs Model

http://youtu.be/qVi9xKearFk

KRPs

http://youtu.be/R-AatWzwLRg

More on KRPs

http://youtu.be/gKTE0nAp40s

On using MA6

http://youtu.be/xGom_FkezjE

On trend change

http://youtu.be/zsRnn4REu_Q

Zone

http://youtu.be/N4JqsNo3a1E

Neg dev , Contraction

http://youtu.be/_OPlYrNUwIY

Contraction setups

http://youtu.be/vwfz9bSRS1c

Setup bar

http://youtu.be/L41344dxEF0

Simple v complex corrections

http://youtu.be/3uPcOIr9dzQ

Normal volume v range

http://youtu.be/_PvoftjWuM0

Advice

http://youtu.be/0rVUmCFybow

Conviction bars

http://youtu.be/MhEEM3IXWEs

On putting stops

http://youtu.be/ivJL4QEZ_FM

ATR for day trades

http://youtu.be/LLNmWjED2Bo

Risks

http://youtu.be/2t3BzojEiLo

Student Irene speaks on her take

http://youtu.be/hHBK52Fm80Y

IDkit aka Ana

Ag Moderator