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Tams
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Everything posted by Tams
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Hidden or Special Risk when Starting Out Daytrading?
Tams replied to TroyMaster's topic in Beginners Forum
retool your psychology that sums it up everything you need to do before you start learning to trade yup, that's it... for those people who were brought up to be an upright citizen, pay your taxes on time, give to the charities, join the boy scout, redemption through hard work, sing in the choir, karma, respect your elders, give your life to serve the country, marry before sex. you need to retool your psychology. -
yup... that's funny.
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Tuesday Jun 21 FOMC Meeting Begins Wednesday Jun 22 FOMC Meeting Announcement 12:30 PM ET Chairman Press Conference 2:15 PM ET
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"Impatience" is the wrong word the describe certain events in trading. Let me give you an analogy. Let's say we are going hunting for big bad bears. They are big and dangerous, and they are known to have bad tempers. But the prize is good... a big trophy, lots of meat for dinners, and a thick warm hid as a carpet. There are rules for hunters --- you are not allow to shoot whatever you want. If you have a license to shoot bears, you cannot shoot deers. If you have purchased a license to shoot one bear, you cannot kill two. You can only shoot male but not female. You can only shoot adults but not pups. When you shoot, you cannot blindly shoot at anything on sight, you have to identify your target before you discharge your fire arm. (for the purpose of this story, I have made up some of the rules.) So me and my buddy set out into the forest to hunt this big bad bear. Each of us carried 2 big bad rifles, with enough ammunition to arm the talibans for 10 years. My buddy is smart, he climbed up a tree, built himself a perch, sat there and wait for the big bad bear to come by. That waiting period is called "Patience". A few big bad bears, lions, tigers, and deers came by, he identified one as a male adult bear, and fired; he bagged the bear. His "Patience" was paid off with the prize. I was smarter than my friend: instead of waiting, I went searching for the bear. I heard a sound in the tree, and I fired at the tree. I saw some movement in the bush, and I fired at the bush. I was tripped by a rock and the fire arm went off. I waded through the river and the water froze my butt off. I climbed the hill for a better view, I almost fell off the cliff. I shot a female and a pup by "mistake" along the way. I hope nobody found out or I would lose my license. I kept walking, searching, I turned a bend, and there it was... the big bad bear staring at me from 3 feet away. I quickly fired, missed him by 2 inches... I fired 3 more times, but did not hurt him at all. I ran out of bullets. The big bad bear was really angry... he made a loud roar, pounded his chest, and charged at me. I threw the gun on the ground and started running, I unload my belongs along the way, ditching my food, my tent, my sleeping bag, to lighten my load. But how could anybody out run a big bad bear? Nobody. I became a statistics. What caused my downfall? was it impatience? I was doing everything wrong. I was reckless. I broke every rule in the books, including the unwritten rules. How could I blame my death on "impatience" ? ? ? ? I got kill because I did not know what the frick I was doing...
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she is definitely smarter than you are.
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no, I am not indicting you... it is just a general saying on an open forum. I was referring to those who cannot pull the trigger at opportune times.
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I have mentioned in various threads that, among many attributes (knowledge, method, etc.,), a profitable trader have the "killer's instinct"... ie. the ability to pull the trigger at the opportune time. You can have a workable system, you can have a proven backtest, you can have the best computers and software, you can have the fastest internet connection, you can have the most supportive mother-in-law, but if you cannot pull the trigger at opportune times, make no mistakes, you are still a nobody.
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a fool and his money shall soon depart
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I am looking for a wife who is young, good looking, good in bed, have a successful career (ie making good money), loving, caring, can cook up a storm, likes cleaning, doesn't mind my miserable parents as in-laws, likes entertaining, doesn't mind cleaning up after entertaining (esp after a football party), she should be petite, because I like petite women in bed, but she should be tall, I feel good with a tall woman walking beside me in my arms... she should be blonde, with big boobs. She must like to bike, scuba dive, ski, hike, rock climb, sail, etc., because these are the things I like to do...
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volume bar charts have constant volumes on each bar, the average price will be weighed by the constant volume, ie the weight on each bar would be the same.
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Automated Price Action Strategy Development
Tams replied to gianno's topic in Swing Trading and Position Trading
search for 3 bar reversal or three line break -
InteractiveBrokers: you can download any data you subscribed. there is a minimum monthly commission fee. some data are free, some are almost free (eg. $1/month) but all are below normal exchange cost or eSignal fees. ps. IB provides an excel worksheet for you to pull data from them. You don't need to do any coding.
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you have to break even before point quotas.
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it helps if you use code tag when posting codes. it is the # key at the top of the message window frame.
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I would keep my money in my pocket and run as fast as possible.
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Lots of useful info here: Documentation
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50 MA is still going up 200 MA is still going up what's to worry?
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Monday Jun 13 Ben Bernanke Speaks 2:30 PM ET Chairman Speech Description Federal Reserve Chairman Ben Bernanke speech at a conference on the debt ceiling and the budget in Washington.
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can you post a mock up diagram? with notes on the specifics you are looking for?
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I would leave the top and bottom picking to the "volunteers".
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like a dead watch... at least 1 of the advises will be accurate twice a day.
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Thanks for sharing. can you post a chart?
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