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TheNegotiator

Market Wizard
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Everything posted by TheNegotiator

  1. TheNegotiator
    As many of you will already know, TradersLaboratory will be present at the upcoming Traders Expo in New York City. We will also be attending the event in London April 8-9, 2011 (Queen Elizabeth II Conference Centre). Register at: http://traderslaboratory.com/londonexpo Both events are free to attend, but you must register before to gain entry. For those who work or can't possibly tear themselves away from the markets, both events have one day at the weekend. I will personally be attending the London event and I hope to meet many of you in person. At the very least it's a chance for us all to get out from behind our computer screens!! Feel free to add your comments and questions about the London event in this thread! Thanks, TheNegotiator.
  2. TheNegotiator
    Hi gnike, Nice to have you on board and hopefully our knowledgeable members can help you. Can I suggest posting in the http://traderslaboratory.com/forums/f36/introduce-yourself-here-dont-shy-9223.html thread as this is less of an introduction and more of an induction thread. Thanks, TheNegotiator.
  3. TheNegotiator
    In the UK we really have only two options right now for those wanting consumer cable broadband. That may change depending on how much money the government drops on BT's network infrastructure as they may be forced to open it up to competitors. So right now though, it's BT Infinity and Virginmedia. The former is still not widely available but it is increasing coverage all the time and should be fairly available within a year or so. They offer a couple of speed options right now 40/10 and 40/2 download/upload and are reasonably priced at little more than £20pcm. If you are lucky enough to have the option, one thing that I don't like is they put a BTopenzone router in which means anyone who also pays for the service can access it through your router if they are not near their own. In practise this should only really effect people who live in town/city centres and in theory, I believe it shouldn't effect anything anyway as I think the openzone and your connection are ringfenced. Not 100% on this though. The other option is Virginmedia. They have the fastest service right now even if their recently upgraded 1:10 upload:download ratio still seems somewhat stingy. Their advertised download speeds are 10/30/50 Mbit although some are still on 20Mbit and there are some areas where 100Mbit is available. 200Mbit downloads are also being trialled. The overall speeds are pretty close to the advertised rate. The price range is fairly reasonable too with £13.50-35 (10-100Mbit) with most speeds having a 6 months 1/2 price deal. Virginmedia are however, infamous for their shambolic customer service. ADSL phone line broadband and the like don't cut it imo. I use http://www.speedtest.net to test connectivity every day, but I am sure there monitoring tools too. Final note. This was not a review. These are my experiences and observations. TheNegotiator.
  4. TheNegotiator
    Hi, I'd like to start a thread on ISPs as without a connection, there is no trading full stop. There are many different ISPs out there in different countries, some better and some worse. Probably most retail traders will at least start off by taking a standard consumer broadband package. I am sure many lease fixed lines though. Either way this is an open thread for anyone to comment on their ISP or another one they have heard of in the hope that it may benefit our fellow traders. TheNegotiator.
  5. TheNegotiator
    Okay. I didn't think that's what they were saying. If it was, why on earth would they want to do that?!?!? Pm me if you want more info.
  6. TheNegotiator
    Sounds like you need meditation the most Mad! I suggest something along the lines of 20mins when you get home if you can fit it in somewhere and make it routine. Any meditation is beneficial imo and certainly may help you rest better and recharge to cope with the stresses your work places on you. Remember, it's important to look after yourself and not neglect this as it means when you are working, you are functioning closer to 100%. TheNegotiator.
  7. TheNegotiator
    Btw, if you could take the time to add a short(like 1 paragraph) book review in our book review section, it would be very much appreciated. It helps everyone to have peer reviews that are easily accessible. Cheers, TheNegotiator.
  8. TheNegotiator
    I think this is a difficult question as there is so much out there which is good but we can't incorporate it all into our own specific style or personality. I would get people to look at trading psychology first. Mark Douglas is good - Trading in the Zone. Brett Steenbarger is well thought of. The Daily Trading Coach and Enhancing Trader Performance. As far as technical analysis goes, for the complete noob I would recommend:- NOTHING. Really believe it's important to not concentrate on this in the beginning otherwise it can be difficult when you run into psychological issues. TheNegotiator.
  9. TheNegotiator
    There's a difference. Most retail traders are stuck in a room on their own with nobody to 'jam' with. Much more difficult this way. So imho (not just because I'm a Mod) TL serves people very well in this way for those who are willing to get and stay involved. Any reasonable suggestions or requests, pm me. TheNegotiator.
  10. TheNegotiator
    75-125 should be a decent number. But it is important to encompass different market conditions and volatility. Bullish/bearish/congested/cyclic conditions could all impact the system on any given trade along with volatility and therefore need to be covered in testing. Otherwise it's like saying you get a hole in one every time you play a golf shot and yet fail to mention the hole was 2ft away each time! TheNegotiator.
  11. TheNegotiator
    On the UserCP, under 'Subscribed Threads' on the left, click on 'List Subscriptions'. Check the threads you wish to unsubscribe to. At the bottom of this panel, where it says 'Selected Threads:', change this to 'Delete Subscriptions' and then click 'Go'. Please be sure to only select the subscriptions you wish to delete. TheNegotiator.
  12. TheNegotiator
    Hi GlassOnion, Thanks for your input! Would you say you are comfortable with what you do and the amount you do or is it more of that's as much time as you can give? TheNegotiator.
  13. TheNegotiator
    Yup. I would say that a very useful part of meditation for trading is to help the mind 'declutter' and focus on what is really important. There's more to it than that definitely, but this is a really easy benefit to see as a beginner. TheNegotiator.
  14. TheNegotiator
    Exactly what I was trying to say but perhaps rather more succinctly!!
  15. TheNegotiator
    Not may area but thought I'd reply to this: In my experience, hard work and practise are essential to succeed with any trading methodology. Learning the nuances of specific markets and methods can make a massive difference. Backtesting is a skill in itself and should never be assumed that the results you get are likely in the real world. Even if you are great at backtesting. Finally, money management strategies that you employ can make or break you. So, so important. Anyway, just my thoughts on that. TheNegotiator.
  16. TheNegotiator
    I know I'm late but - INDU 12500 SPX 1350 COMPX 2500 EOY
  17. TheNegotiator
    Don't part with loads of cash. That's my opinion. It's really difficult to get a great mentor as they are probably pretty successful traders themselves. I would say first thing you need to do is analyse yourself. What type of person you are how much you can start an account with etc. Look at which timeframe would therefore be best and also which market may suit your timeframe and account size. Research types of technical trading or indeed methods of scalping and DOM reading. Once you have a broad idea of where you believe your path may lie, get involved in the forums, read books and you will develop. You may find someone willing to help, you may not. But at this point you are more likely to understand what constitutes help and what is useless rubbish designed to part you with your money. TheNegotiator.
  18. TheNegotiator
    Thanks Ingot54!! It sounds like you have plenty of useful experiences to share. I take it you are intending on using our blog section then? Thanks, TheNegotiator.
  19. TheNegotiator
    For me, it was squaring myself with losing. The way I found it was best for me to view it was that for each trade, I need to focus on the probability my analysis and trade being inline with the market rather than the probability of the market doing something directly. I realise this may sound like semantics, but it works for me. It means I am never coming from the standpoint of "why couldn't you just do this..., you normally do it so why not now!":angry: lol So now when I enter a trade I mostly say "okay, well I got that one wrong". TheNegotiator.
  20. TheNegotiator
    I find meditation is very helpful. Anyone who has doubts should google - meditation and hippocampus. I'm not pretending to be an expert on this by any means, but there is intriguing research about the effects of meditation on the brain and in particular the hippocampus- the area responsible for regulating emotion. Take a look. TheNegotiator.
  21. TheNegotiator
    Hi GlassOnion, Welcome to TL! I am sure you'll find lots of great info here and if you don't find what you are looking for, you can ask away. Everyone is pretty friendly and happy to help in general. Cheers, TheNegotiator.
  22. TheNegotiator
    To start us off:- 1- I begin by looking at the prior day. I do look at the week and month and longer, but not every single day. I note how the market reacted to each of my nearby technical levels and whether my opinion is that the levels have strengthened or shifted due to the activity. I note my own state of mind and physical condition. I then look for any trendline proximity and try to identify what 'mode' the market is in. I will then look at economic releases and speakers etc. for the coming session. 2- I then will attempt to figure out important levels or areas which I believe the market may attempt to explore and perhaps how it may do so. 3- I note lots of things during the day. Firstly, I note all trades and intended trades(not maybe trades!). I rate them as objectively as I can based on mainly my inner self such as patience, control and logic. I note anything I believe to be important. Specific technicals which seem to be in play and how the market feels on the DOM. I am thinking of electronic but still do most of this by hand. Committing the information to paper or electronically commits it to my mind anyway. 4- I take down market generated information which I can then manipulate to do research later on anything such as average daily range, average NFP day range and anything else I want to. Making sure I have a good data set to manipulate imo is very important. 5- I would say I spend in the region of 3-5 hours per day on this bearing in mind that sometimes I know I should do more and sometimes I do a lot more on quiet days or days when I have reached my targets. Broadly, that's me. If you'd like to add your own ideas or just ask questions, great! It doesn't have to be in this format though and you can add as much or as little as you feel is reasonable! Thanks, TheNegotiator.
  23. TheNegotiator
    Hi nazia1230, Thanks for getting involved. However you should try to stick to the thread topic. So links about other stuff like this are not especially needed. Also, it's fine to directly thank people, but I suggest clicking the 'Thanks!' button. If you want to get involved, maybe it would be an idea to go over to the introduction thread in the beginners forum. Thanks, TheNegotiator.
  24. TheNegotiator
    Hello! Right. I want to start a new thread for all to discuss homework and prep. What you do(broadly or specifically - up to you!), how much time you spend on it overall etc.. To me this is pretty essential for ANY trader to be successful imho. But hey, disagree if you like, that's the purpose of this thread. So as a framework for the topic(and I know some things are also covered elsewhere):- Preparation for session - levels, other technicals, events and anything else. Theory for what may happen and plan of how to trade the possibilities - for day, week, month or whatever your timeframe may be. Journalling - of day and trades taken/missed etc. Research and metrics - statistics and analysis to get a better feel of specific markets. Time spent - realistic amount of productive time you spend/you can spend on these areas. Post your thoughts and questions on as many or as few of these subjects as you like. If there's anything I've missed which you would like to add, by all means do. Please stick to the topic though!!
  25. TheNegotiator
    Hi there, I'd like to start off a thread where everyone can post to say hello or ask a question. I personally am an experienced trader and not a beginner. However, being a new member of the TL team, I feel I do qualify!! I trade E-mini futures mainly S&P 500. I am a full-time retail trader. My main concepts are auction theory and volume analysis. I try my best to listen to the market and control my basic human instincts!! :crap: Cheers, TheNegotiator.
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