Published in October 9th, 2008
A comment I made has resulted in quite a few queries. The statement was: “I seek to exit when the market has two consecutive days where the true range is greater than mean +3 x the standard deviation of the average true range”.
Most of the posts could not understand why I chose to find a […]
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Published in October 8th, 2008
I was waiting for the last bullet in the Central Banks’ guns to be fired: a concerted rate cut. They did that tonight. As a result, the ES gyrated up and down, and the 30-Year Bonds tanked. For the first time, I am starting to feel that the word recession is too weak to describe the […]
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Published in October 7th, 2008
After a round of seminars, one thought struck me. Many traders are asking the wrong questions; as Anthony Robbins maintains, you need to ask the right questions to succeed.
What are the right questions when it comes to monitoring the landscape for a trade? I hold that the first questions for ‘other timeframe traders’ (all […]
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Published in October 7th, 2008
In Friday’s ‘Market Profile, the Value Area and Trading’, I introduced the 3 ways to calculate the mean and standard deviation. In today’s piece, I evaluate the 3 methods.
The first is the traditional mathematical approach. This approach assumes that every data set is random and therefore each data set will exhibit a classical bell curve. In […]
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Published in October 4th, 2008
Market Delta brought a new level of sophistication to Market Profile.
When Peter Steidlmayer introduced Market Profile, he substituted time for volume on the assumption that the greater the time spent at a price, the greater the volume. (Remember that when Peter introduced the Profile in the early 80s, real-time volume at a price level did not exist […]
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Published in October 2nd, 2008
A quick comment:
A student went ahead and paid for a trading robot that has been extensively advertised as a system that has never had a losing trade in 9 years. My copy of the blurb went straight into the recycle bin.
Apparently the system looks for 6-7 pips and has a 650-point stop loss!
Nuf said. If […]
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Published in October 2nd, 2008
This morning I wrote a piece for attendees to my Habits of Success seminar.
I reproduce part below because I believe the post contains a useful template for success. If you generalize the advice, you’ll see that the response to the questionnaire is found to any call to action:
* do nothing
* do the minimum to get […]
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Published in October 1st, 2008
Sometimes it is appropriate to take a step back just to see what the larger picture looks like. Certainly the last few days have been heady enough for most traders. I am sitting from the sidelines taking a spectator’s role. The volatility as measured by the Average True Range is still too large for […]
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Published in October 1st, 2008
Hi All
A note to say that the computers I rely on for my data, charts etc, crashed yesterday afternoon and so far I have been unable to have them restored. I’ll put a blog just as soon as all is well.
Thanks
Refer this blog post to a friend or colleague…
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