Monday, December 29, 2008

Dinosaur Trader's Best Post of 2008 By Bloggers

Make sure to check it out here: http://dinosaurtrader.blogspot.com/. It is a great post. WARNING: you must be over 18 years old because this post has pornographic content. ;-)

enjoy!!

Wednesday, December 24, 2008

HAPPY HOLIDAYS AND MERRY CHRSITMAS EVERYONE!!!!!!



May 2009 be your best and most profitable year yet!!!

Monday, December 22, 2008

SNOWED IN!!!!!


Portland area has been showered with the heaviest snow storm since 1968. We are buried!!!! Been stuck at my girl friend's mom house for 3 days now! hahahaha! But, that ain't stopping me from putting a trade or two. It's nice to get snow here but i am kind of missing the old fashioned rain.






Thursday, December 18, 2008

Friday, December 12, 2008

Freakin Chopfest! This Market IS A PIG!




These are the kind of days that destroy accounts. Taking my losses while they are small and walking away from this crap. Bulls doing a good job of putting lipstick on the pig, but a pig is a pig! oink!

HAVE A GREAT WEEKEND!

Thursday, December 11, 2008

WHY I ONLY TRADE THE OPEN AND THE CLOSE





Here is a perfect example of why i ONLY trade the open and the close. Opening will give lots of imbalances from the breaking over night news or emotions left over from the previous session. The close that's where the PROS are squaring off their positions and that's where you will either see acceleration of trend or a reversal from the previous trend. The rest of the day is just small choppy sideways movement that will just cause headaches and over trading with little gains and probably just losses. This is NOT true for every trading day but a fair amount. Trade the open and the close and look for reversal or acceleration because that IS tradeable, and forget the mid day chop.

peace.

My PnL Excel Sheet

I track my performance thru My PnL Trading Log in an Excel sheet. I have 4 separate columns. First column is the PnL, second column is the Disciplined Sell, third column is the Overnight Holds(ONH) and the fourth column is labeled "Observations", this column discusses the market observations: For Example: "market gapped higher but internals leaned more to the negative side, GS and GOOG were down big early. Took one trade in SKF as i figured the upside wouldn't hold. Made two trades and stuck to my discipline."

ONH column: tracks my PnL from overnite holds, the consistency of this strategy is no where near as good as the DISCIPLINED SELL.

I have been using this same excel sheet for over years now. This Excel sheet has allowed me to realize is OVER TRADING IS A LOSERS GAME. At least for me it is, some people can trade all day and walk out with good gains consistently, good for them. I am NOT one of these people. The more i trade, the more emotional and sloppy i get. I feel that if i hold myself down and ONLY put 1-3 trades per day, I will INSTINCTIVELY be picky and ONLY demand THE BEST SETUP, even if that means NO trades on the day. When was the last time you sat down in front of the computer and starred at those colorful moving charts and DID NOT push that button?? I have to admit it is very very difficult. Trading is fun, it's addictive and satisfies an urge BUT if you are feeling these kind of emotions while getting ready to trade, then you need to step off and think of what you are getting into.

Anyways, look at DISCIPLINE SELL column and you will notice that this coumn has been the MOST profitable column by far. Thru out 2008, this column has been the RUN AWAY WINNER. There's a lesson to learn here, overtrading has hurt me and took away amazing profits from me. Disciplined SELL is when you have made a trade or two and you are satified with the gain or if your gut tells you, this is enough, whether it's a gain or a loss and TYPE in the PnL in the excel sheet and walk away and you are done for the day. Once i break that rule and break my discipline due to lack to discipline/greed/fear/emotional or lack of focus issues, then i have trade again and 9 times out of 10 i will either lose some/all of my gain or if i was sitting on a small loss at the moment of the DISCIPLINED SELL, then SURELY that small loss will get BIGGER and sometimes much bigger.

OVERTRADING is a dangerous game that will spark your emotions and make trading much more difficult, confusing, and very stressful. I want to strive to live a low stress trading career.

Hope this helps you guys.

peace.

My Excel Sheet: PnL Log: DISCIPLINE IS VITAL!


My Trading Log




May PnL Disc.Sell O.N./1Hr Hold




1-May -500 300 3000
2-May 1000 1400 2200
3-May Weekend Weekend Weekend
4-May Weekend Weekend Weekend
5-May 2100 2200 2200
6-May -800 1250 -1500
7-May -2260 -1600 -3000
8-May 0 0 0
9-May 310 0 0
10-May Weekend Weekend Weekend
11-May Weekend Weekend Weekend
12-May -900 -1500 -1500
13-May 1850 1000 1000
14-May -2500 1500 2200
15-May 2280 1500 0
16-May 4150 5000 3000
17-May Weekend Weekend Weekend
18-May Weekend Weekend Weekend
19-May -586 0 0
20-May -825 0 0
21-May 7832 7700 7200
22-May -4700 0 0
23-May 3780 2680 9000
24-May Weekend Weekend Weekend
25-May Weekend Weekend Weekend
26-May Weekend Weekend Weekend
27-May -450 100 -3500
28-May -4800

29-May -1100 750 -1500
30-May


31-May 1000





TOTAL 4881 22280 18800




















June PnL Disc.Sell O.N./1Hr Hold








2-Jun 100 825 3500
3-Jun 800 800 800
4-Jun -1500 -1500 -1500
5-Jun 2600 2600 2600
6-Jun -300 1000 500
7-Jun Weekend Weekend Weekend
8-Jun Weekend Weekend Weekend
9-Jun 1800 1500
10-Jun -5300 -1800 -500
11-Jun 500 400 2000
12-Jun 150 2500 0
13-Jun -2000 700 -1000
14-Jun Weekend Weekend Weekend
15-Jun Weekend Weekend Weekend
16-Jun 2000 3850 3000
17-Jun 3900 5600 5000
18-Jun 1800 2900 2900
19-Jun -1800 -1500 -3000
20-Jun 600 600 -800
21-Jun Weekend Weekend Weekend
22-Jun Weekend Weekend Weekend
23-Jun 2500 1200 500
24-Jun -180 1000 1000
25-Jun 2450 -1000 0
26-Jun 3750 3700 3750
27-Jun


28-Jun Weekend Weekend Weekend
29-Jun Weekend Weekend Weekend
30-Jun






TOTAL 11870 23375 18750













Dec PnL Disc.Sell O.N./1Hr Hold




1-Dec 900 900 0
2-Dec 100 100 0
3-Dec -600 -600 0
4-Dec 2600 2600 0
5-Dec 4990 4990 0
6-Dec Weekend Weekend Weekend
7-Dec Weekend Weekend Weekend
8-Dec 3950 5500 5500
9-Dec 1200 1200 0
10-Dec 0 0 0
11-Dec 725 725 0
12-Dec


13-Dec Weekend Weekend Weekend
14-Dec Weekend Weekend Weekend
15-Dec


16-Dec


17-Dec


18-Dec


19-Dec


20-Dec Weekend Weekend Weekend
21-Dec Weekend Weekend Weekend
22-Dec


23-Dec


24-Dec


25-Dec


26-Dec


27-Dec Weekend Weekend Weekend
28-Dec Weekend Weekend Weekend
29-Dec


30-Dec


31-Dec






TOTAL 13865 15415 5500

SRS and SKF: Breaking Falling Wedges With Volume



Rising Wedge Updates


THANK YOU ALL from the bottom of my HEART!!!

I want to thank everybody for the votes and those that took the time to write in and gimme their words and feedback. It's ALL helpful. I was gonna reply to each one personally but i figured this would be a good Post discussion.

So, where should i start:

first of all, my partner would be ok with the idea as long as i am trading the account and making money but the whole reason why i have been contemplating this idea is b/c i have altered my trading to where i am most active in the first 30 min and final hour of the day. So the rest of the day i am just scanning, blogging, sleeping, chatting on wallstreak or watching TV.
this is time that can be used to do something i truly enjoy and it's teaching people who WANT TO LEARN to trade. I hate trying to teach someone who is not willing to learn or wants an easy way out.

Since i started trading i have ALWAYS been a part of a trading service and i see a lot of value in some of them, most of them are a waste of money and time. i have literally tried a good dozen different services, from zanger's chartpattern, to straight breakout trading letters to elliott wave trading letters and dozens of others. The combination of all these definitely helps but i found some to be more valuable than others.

Replying to the anonymous reader who said that trading is ALL "bunch of bullshit", i used to say the same words when i first started trading. Trading is THE MOST frustrating way to make money. It is inconsistent and unpredictable. The only thing you can predict is how YOU will react to given market. for example: I am a momo trader so when i see lots of big movement and strong directional one sided movement, i get VERY AGGRESSIVE and PILE on big trades and ride out bigger profits and that's how i made most of money this year, just by having 4-5 really strong months. My best month this year I booked about 80K. My worst month i think i was down 25K. I had a couple of disastrous months and i blogged about it a while back.
The learning part of trading is "bullshit" i agree with you but please also remember and this is something you RARELY ever hear people talk about, is that NOT EVRYBODY IS MADE TO TRADE!! When was the last time you heard someone tell you that??!! Trading is NOT for everyone! Can i be a lawyer? NO WAY! I do not have the patience nor the book smarts to sit down and study for hours on end and take the time to understand legal terms and confront someone in court etc etc. Some find this fit to their personality. Trading is made for the MOST DISCIPLINED, those that follow a plan that was put in place and thought out well, knowing where the entries are, the exits and ability to understand oneself to understand how much size position you can put on without pressing the panic button on every wiggle, the ability to COMPLETELY go against what you imagined to be rational, ability to put on a trade and quickly realize you made a mistake and switch to the other side seamlessly, the ability to admit that YOU HAVE BEEN DEFEATED and it's not your day to make money, take your loss with your head high while it's still a small loss and WALK away because for god's sakes tmrw is a NEW day and the market will give you anotehr shot. nobody makes money every day, the ability to quickly realize when you are dealing with a losing scenario is KEY to long term successful trading.

I am one of those traders who tracks his progress very closely, i do thru my blog and i do thru an excel spreadsheet. This excel sheet as OPENED my eyes and allowed me a window into my trading. I will discuss this spreadsheet at a later time but monitoring your progress is VITAL!!!! how on earth are you gonna be any good if you are not aware where you are making your mistakes???!!!! who is gonna tell you?? me? NO! your dad? NO! your wife? NO! Only by you taking the steps to watch yourself and monitor what you are doing will you start to notice the 'holes' in your trading. Once you start to 'plug' those holes, you can start thinking about building your account and enjoying the profits from trading.


Thank you for reading and PLEASE continue to give me your feedback!!!!! Vote on that poll or even better write to me and tell what's on your mind.


Trade em smart!!

Stocks To Watch Today





Wednesday, December 10, 2008

More Upside For Indexes: Inverses Setting Up In Bear Flags







30 and 60 min uncovering hidden patterns not visible thru daily charts. More upside likely in tmrw's session.

trade em smart!

OIH: Still Stuck In A Channel

VIX Still Consolidating

Tuesday, December 9, 2008

Oh Boy! Could It Be True





The market move off the lows is starting to look more and more like some rising wedges now. If these patterns break lower than a retest of the lows is in quick order.

Sunday, December 7, 2008

Rookies Looking To Short

The tape is saying to buy dips now, not sell rallies. Late to the party shorts are gonna get burnt fighting this upticking tape this time around in my opinion. Play what you see not what you want to see.

happy trading.

Bo Yoder Newsletter

http://hardrightedge.com/dor.htm

Two Great Setups Courtesy Of Sloth



FLR and JEC looking to be forming some very nice bottoming patterns here. Thanks for the heads up Sloth.

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