minoo

Controlling of Emotions is not the Goal of Trading Psychology Below are twp Paras from this Excellent Article (Also refer to the comments at the end) +-----------------------------------------------------------------------------------+ The important ingredient in success is not emotional dampening per se, but the enhancement of concentration and focus. That is what enables people to act with sustained purpose and stay rooted in their goals. The goal of trading psychology is to build consciousness, not reduce emotion. The goal is to create regular access to the flow state of heightened learning and focus. Talking to a trading coach, in itself, won't accomplish that; nor will well-intentioned efforts to calm oneself or take breaks from trading +-----------------------------------------------------------------------------------+ TraderFeed: Controlling Emotions Is NOT The Goal Of Trading Psychology I would humbly add, Please Read and Re-read the good advise sincerely and importantly clarify the purpose of your training, preparation and routine. My Thanks to Brett for truly a Good Article. Such solid advise is hard to find. Enjoy Minoo

TradeLab, Thank you very much for bringing this to light again. I had misplaced the pdf on my own system & Wish I remembered that it was shared on Traderslaboratory. Glad to find it Back. Have previously used many of the good stuff from it. . . . Not BIAS but Preference BIAS cannot be kept away unless you have a mechanism in your own system to keep it at Bay. And importantly trained your mind & have gone through of experience of repeating your mistakes. Sudden Emotions comes mostly from ones Primitive Mind. Your trading plan you have made, tested, improvised and defined is from your concious and learned conventional day to day mind. When primitive mind kicks in it will take over your conventional self & will trade your trading plan. I wrote the below some time back in one of the threads on Thyself (Below is a part from the copy I kept) Thought bargained not, but inherited thy mind, Wired so wrongly, lamented subconcious of mine Have heard my story and repeated it all How many times, Cries myself of all My minds a Dice, Follows my Vice Few times right & Acts even Wise Drowning me mind in Egoistic helpings In feeling of Doom or Aura of Gloom Trading Mantras, & Chants of Changes I Dam this action, in air of Reflection Guess all are: Self Inflicted Actions I prefer the word Preference and have a system for my preference to be evident from Market Internal Charts, This preference will make me employ probability of trades in Uni-Direction only and the opportunity only comes around 33% of trading days. Otherwise its CoP time (Consciously Out Position) during this time I practice patience and discipline. Thats it. Easy to mention here But I can only do the above, If I have prepared myself and my system both and made my self part of my own defined trading system. I constantly revise my system to remember it, as it is defined and not for creating new or fly by editions or versions of it. Hope the above piece of my mind Helps Regards Minoo

Time and Money are the same or closely related entity in Trading You can read the below informative article and come with solutions to progress with your trading and build faith in your trader-self to consistently execute your system Simple money management wins over time | Futures Magazine Joseph Follow on Article How much Trading Capital is Enough http://www.futuresmag.com/2012/03/30/how-much-trading-capital-is-enough Happy New Year to All of The Traders Hope your Resolution is to be Consistent with your Good Self and your Defined System Best Greetings of The New Season Minoo

Brett Steenbarger is one of The Best Trading & Performance coach. After taking a break from Blogging due to role in an Hedge Fund; He has started to Blogg again from Feb 2014 His Blogg is an Treasure Trove of information, and worth keeping an eye on regularly. Check out his new multipart 'Useful Trading Tools' Series (so far five parts written) TraderFeed: Useful Trading Tools - Part One: NYSE TICK I would like to thank Him for his excellent work over the years and glad to see him blogging again. Its much appreciated Brett. Thanks Minoo

Very useful Videos, Certainly will help in furthering your futures knowledge Topics are: Margin, Hedge, Forward Curve and Settlement, Contango & Backwardation, Arbitrage & Fair Value https://www.khanacademy.org/science/core-finance/derivative-securities/forward-futures-contracts/v/forward-contract-introduction Enjoy Minoo

Commited the short as the Net Vol got Negative above the confluence area of Previous High and R1 RIMM seems strong in compare to general indices, today it held up and close higher than yesterday & previous day (3 concecutive closes higher) 50MA is at 14 evens (acts like an Magnet) Note Further On the Daily Chart three previous days lower highs and higher highs printed by EOD Keeping an Open Mind here; If the Indices trade lower overnight could benefit or may get stopped out tomorrow Enjoy Minoo

Yes I am flat on FB I didnot get out on FB previously due to the lower impending Gaps of 3rd Jan at 27.77 and 20 Dec at 27.36 in the vicinity of downward price action remaining to be filled. On Tues 12 Feb it did & I went flat just before it filled. Refer to the orange dash lines in the daily charts are Gap fill levels I do try to keep the thread updated as best possible. Sorry I do not know how to subscribe to threads confidentially or without contributing (Please Note: I do not like mentioning options, keeping things simple here but I use them for few purposes instead of going short or holding stop loss, etc) Thanks Minoo

Entry was more due to Area & Gap below (I took the first Short just below 29) with Net Vol getting Negative. (Note The previous long was from Area above the 29.5; From the Daily one can see that the Zone between the 29.5 & 29 has become The No Trading Zone) Anticipated Reward or Target was the Gap Fill Area (Most probably would not have taken this trade if not for Gap Fill as it was against the Market Internals positive conformance) Also had good opportunity to short a few more at the break of price pattern and support area confluence (Refer Chart ) At the Gap fill level Vol Bar and Net Vol were increasingly looking negative so did not exited the trade as plan at the time of Entry. Mental Notes: I am not sure why I didnot book even part profit at Gap Fill or at even Close Instead thought of monitoring the position pre market opening Perhaps the profit was comparatively small to previous Bookings Also while writing this my mind is foolishly wavering whether the market will Gap Up or Down on Monday. Making it work wrongly, may eventually take greater Toll, than one can sticking to ones own system. The best thing would be to get Stopped out and put this trade to the Learning Experience Note:Though the Market Internals were positive today from the opening, At the time of shorting FB, ES seemed to have put in a intraday top. Enjoy the Weekend Minoo

Some General & TA comments The popular 50 & 200 MA is widely followed in the markets and would generally like to avoid playing at this areas. As BB10 neared release date RIMM had 50MA crossing above 200MA on the daily Charts. The Price consolidated above the golden cross and 50MA between end of Dec and 2nd Week of Jan. It broke above consolidation on 11th Jan soon made highs 18.32 ish on 24Jan. Than came back down to area of consolidation on 31 Jan (low 12.15) also this same day BB10 was released. (Refer your daily chart) The price pattern shows it traded as Parabola (what goes up on news will come to test the area it took off from (around 12 ish) The Daily 50MA (13 ish) is in the current price region & sloping upwards; 200MA (9.9 ish) is Flat. This is an classic situation where news been traded and price back to place of pre-release consolidation and at 50MA. Also 50% retracement from the lows (6.22) to recent High (18.32) is around 12.27 mark. Some Technical things to note here are: There are Daily Gaps to filled, in the trading zone of 50 & 200 MA & also below 200MA While at the moment 50 is sloping up 200 is Flat The General Stock Indices looks Toppy The BB10 and New Blackberry Models have so far somewhat positive press RIMM is trading under its capital value When it dive south this time to fill its gaps (I think more floating stock will be positively consumed by the funds) Disclaimer: Most of the above though objectively put, it still is classified as opinion, generally to be used as background (present hindsight) The best way to play in my opinion is take technical guidance (Price & Vol) from the (live) Market Indices to play the underlying stock My Play Plan: Is to accumulate stock (including Average In) if it dives lower to fill its daily Gaps along with General Market Correction or stock should have positive Net Volume flow (ie accumulation) Enjoy Minoo

FB Chart alerted me today twice just after the opening (RTH) 1st Alert when it came down at my previous bail out region of 28.8 ish 2nd Alert soon after, when it touched S4 (Both alerts were within five minutes of opening) Monitored the first half hour of play, there was good net flow of positive vol with prices getting off the lows So went long around 29.5 ish (1st Chart) Futures direction was not too clear at the time of execution and NQ actually looked negative more than positive in the AM As FB price quickly traded above 30 and consolidated a bit and progressed up, I Scaled in 30.2 ish (2nd Chart) Just trailed stops as price progressed comfortably towards Gap fill of 31.25; It was time to take some off as the Net Vol turned negative over the Gap fill level. To be very honest Its not yet clear in me head, What made me take this trade today but somehow manage to do the right thing around the right time. Perhaps it had more to do with where I got out last time and missed out on the price rise; Today the price perhaps gave chance to my Ego to indulge and make good on the lost price action. The only good thing I note is I didnot get involve in between or chase FB waited for the price to come to my alert levels; So am not frankly sure what to put in my Journal. To be Patience and to Pounce Timely; Are equally important factors of Trading Discipline. Enjoy Minoo

RIMM ReEntry to the Long side again Today When Price retrace to S2 level; And Net-Vol turned Positive Not much of an technical entry, apart from the stops could be tried out below S2 and intermediate chart showing WRB at Support RIMM is under the limelight and the tone seems to be all positive so far . .. . Sorry this is more of an opportunistic entry, which needs to be monitored at pre-opening and Intraday. Enjoy Minoo

A quick update Went just All Flat on RIMM, been dibbling & dabbling with the stock It has been gapping up since the last trading days But today It massively Gaped up above R4, showed Net Gain of 11% With Net Vol turning negative at weekly resistance level, I pulled the plug Also ES & NQ both had already started to pullback Just keeping it Technical Will now wait for some of those Gaps to fill and a probable Re-entry Any Comments Welcome Thanks Minoo

No I have not abandon the thread and FB But just did not want to fly in the face of other traders opinions So the cooling off period; I am a trader and I extremely care for my peace of mind, its more important to me than making big bucks Just doing my thing and sticking to my system: I exited FB today near the close Far too much negative net-volume to my liking And On Daily chart, too many Gaps to fill below Looks to me like a fake break out to the upside Or I have taken an early exit Note: ES close was above the Session Open & towards the high And NQ below the Session Open & towards the low (BiPolar close) Done extremely well so far trading this stock so quite please, an welcome entry to 2013 Greetings for The New Season to you All, Enjoy the 1st WeekEnd Minoo

Is the technician feeling the pre-election jitters or is this pattern potently going to wake up the snoring Bear The Canadian Technician: Think you know the markets? Identify this pair of charts. Well worth reading The Canadian Technician Blogg entry From Stockchart Comparing chart patterns of Pre-Doomed Nikkie and Present SPX Keep, Open Mind (OM) Minoo

Why I booked part Profit on RIMM ? Read this yesterdays article of 1st Oct for figures & some stats When Will RIM Reach $10? - Seeking Alpha From 1st Para ' RIM was last assessed as being worth $8.35 ' From Last Para RIM shares likely found a bottom at $7.50. It would not be unreasonable to expect markets to value RIM at $10. December open interest is highest for these $10 call options, but RIM is more likely to reach this double-digit share price in 2013 Good Trading to you

Didnot post the chart with the last comment as I want to shift focus to swing trading the stock. Yes I did took some off at my daytrading targets but kept the rest to swing. Today book first swing style profit and scale up the swing stops & protection. I hope this is not confusing Chart 1 Entries for both Scalp and Swing (25 Sept, indicated by blue arrows) Chart 2 Daytrading Profit (25 Sept) Chart 3 First Swing part profit (2nd Oct) After price came to my target & Net Vol turned Negative (Time, Date, %gain, Net Vol, etc are on charts) I look at pre-opening trading & RTH opening session market internals data to decide whether to daytrade stocks or not. I like to daytrade when market internal data at RTH Session Open has comparative confluence and conformance with the pre-market acitivity I do not want to mention hedging with option or when I am using option instead of just stop loss as its difficult to explain for me. Best to Keep it Simple and Short. Note: Historically months of May and Oct I play cautiously & employ hedging & lock-in-profit mechanism deligently. I reduce exposure to overnight positions.

Is RIMM fundamentally stronger than it appears to be technical on chart ie Is it worth getting into RIMM from investment perspective, do you see any value in it ? at this lows (Is price below its net worth ? ?) Essential Read on RIMM, Dont ignore the readers comments below this Article Is Research In Motion A Sum-Of-Parts Deal? - Seeking Alpha Is it 'Time' to start investing into this stock with the earlier daytrading profits made. Could this be played as an swing trade as Possible takeover target ? ? (shares price below its intinsic value) Note: Imminent News Release on Thursday

Worth reading perspective on FB Facebook (FB) Earnings - What The Market Is Ignoring About It | iStockAnalyst.com I mostly tend to ignore news but timely figures or stats which will affect the Stock is noteworthy. To change current trend down and sentiment of the market is very challenging; I still am optimist on FB and will trade it for short timeframe when its declining. If FB starts rising than my trading methodology can scale-in and accumulate as well. This kind of decision best left to the price action. For Investment my trading plan is based on distribution or accumulation phase of instrument. If there is Market Bull or Bear evidence than I will consider it in my Market Structure & Big Picture analysis (weekly or monthly) Read the first couple of my post in the thread ref to 23.5 area. But FB gapped down and tested this area from below & close 23.7ish. After trading FB I understand the stock better than previously. Rest is left to the price action & plan I will leave it to the readers to comment on the article, Thanks for the link Good trading to you all Minoo

A massive divergence between the collapsing FB share and Indices rising in premarket and opening with such Strong Market Internals figures second day running So it would be opportunistic trade to go long near Perhaps Historic low of a badly lagging stock with two consecutively larger gaps Today percentage wise FB was seriously down (session open was below S3), But Strong Positive Vol soon flowed in; This flow of Vol was Noteworthy and sustained till the test of S3 from below. As soon it turn to red around S3 I simply went flat Nothing much to do or say when both $Tick and Net Vol are rising but to momentarily / timely commit to the floor (a good player will not confuse this with emotion as he would have exercised Patience first) It helps once you can read price and non-price data in real time (an Event). Wish I continue to trade in this purposeful manner till the end of my time. Rest charts can convey (I feel a bit numb after I saw the 2012 Olympics Opening, . .. .. been a long day.) GoodNight All.

The Market Internals again were very positive today, $Tick struggled to deep below zero in the opening hour auction ES and Rimm failed to fill their respective Day Gaps Below (indicating to possible parabola pattern, News driven again Upward today) RIMM didnot deep even a cent below 7.00 (Support at such round figure in opeing with increasingly strong market internals meant an impending lift-off) Bearing in mind all this started since yesterday on Euro News so the Parabola Pattern will Play out but suspended due to Eurolimpics) Took my time to pull long on Rimm as Net Vol became positive over 7.05 & took it off around the 7.34 mark, Flat again (Refer Chart, Daily Level) Ok guys, I have done my bit, now Enjoy the Opening Ceremony! Thanks Minoo

Not much I could do with RIMM at openning Note: Today the Market Internals were Strongly Positive at Session Open (so given the chance I would have hold at 1st Target most probably) Prices came down to Yesterdays Low (My last Entry level) in the opening auction Than Tested the support area successfully from above and took off north towards Previous High (PH) Locked in profit at 3% & trailed it till Net Vol turn negative approaching PH Huge ammount of negative Vol piled in, nearing Previous High so just went flat on Stocks Refer to annotated chart Goodnight Minoo

Refer yesterdays update FB opened with massive Gap above, it opened below Yesterdays Low It tested Previous Low (PL) from below and tanked The Chart says it all.

Note FB just manage an Outside Day but still under 29.5 overhead Resistance Pending Earnings figure and Gap below to fill at 26.31 (This kind of situation makes me nervous so will let go till good opportunity arrives at areas) Same Drill on open take profit at first pivot target Any intraday target of 3% or over near an area (Previous High) than lock in profit Re-Enter at Previous Low (PL) or Support Area below PL with Net Vol change in direction of Long Trade. So far the above technique for range bound trading has work well (Pending Earnings Figure) Note: There is negative sentiment generally in the market this week by too many Technical-Analyst, so trading the charts still on the long side but nimble and ready Enjoy Minoo

Vol inflow at the EoD has been consecutively been positive for the last couple of EOD close. I continue the same drill on open take profit at first resistance pivot areas and EoD if Net Vol is positive at Previous Low I take position Though I didnot like the daily bar pattern formed today, I did according to Vol & Plan Note: There is lot of news driven bearish sentiment in the market

Ok, here are the Entry Charts! Thanks & Enjoy the Weekend. Minoo Note: 1st Entry against the Net Vol; I started to trail it lower when the stock went below S3 (sound alert) and Down Over 5% with Divergence in $Tick Forming so I let it trigger