MadMarketScientist

Ego is worse ... there is someone we call 'stupid proud' because he constantly does stupid things because his pride prevents him from seeing clearly. Being afraid is ok, it gives a 6th sense and keeps you alert to your surroundings. Like Andy Grove said, "always be paranoid" MMS

haha - hang out around the forums longer and you'll see Tradewinds is not trying to sell anything! MMS

Looks like the search isn't allowing 3 letter words ... I've submitted a request to our dev to change this on the database server. In the meantime try the google custom search, that will return some results. thx MMS

History has a message for us: No fiat currency has lasted forever. Eventually, they all fail. These are all WORTHLESS Yugoslavia - 10 billion dinar, 1993 Zaire - 5 million zaires, 1992 Turkey - 5 million lira, 1997 Hungary - 10 million pengo, 1945 MMS

investopedia has a web-based fxtrader that doesn't require the hassle of opening a demo-account MMS

Good work! Practice account only? MMS

From Russian Prime Minister Vladimir Putin … "Thank God, or unfortunately, we do not print a reserve currency, but what are they doing? They are behaving like hooligans, switching on the printing press and tossing them around the whole world, forgetting their main obligations." When Putin criticizes how you're managing your country's finances, you've got a problem… MMS

Forget the economy, what to really worry about ...

Ok here we go with QE3 ... everyone ready to ride this rocket up again? Stocks jump as Bernanke details possible stimulus: Associated Press Business News - MSN Money MMS

A rallying cry for bankrupt governments around the world has been "blame the speculators." It's not the reckless borrowing and spending that have driven overleveraged countries to economic crisis… It's the rumor-mongering and collusion of short sellers – those evil capitalists who profit from other people's trouble. Italian politicians, including Prime Minister Silvio Berlusconi's aide Paolo Bonaiuti, blamed their country's deteriorating market on "speculators." Bonaiuti said Italy would be united "in blocking the effort of speculators." Do you believe investors selling Italian shares short must reveal their positions when they reach 0.2% or more of a company's capital and make new filings for each additional 0.1%. The rule runs through September 9. Consob is also considering banning naked short selling. MMS

Yeah I hear you ... no way to fake an IP so it looks like an UK address? I hope this is just a temporary thing, a way to eliminate competition before the big boys (MGM, Wynn, LVS) come in and start their own sites up Impressive wall! MMS

The WSOP is on right now ... do you ever get out and play there? Looks like hedge fund guy David Einhorn is doing ok: David Einhorn Made It To Day 2 In The World Series Of Poker MMS

Picture Viewer - investigating ... Multi-Quote - added back thanks! MMS

Hi, Well one thing you can do it buy a laptop and 2 docking stations. Those will allow you to have at least 2 monitors each. But your laptop will have to be a good one (ie. expensive) so that it has a good video card. I'm not sure if the 4 monitor video cards are available in laptops. thx MMS

Hi, With most laptops, at best you'll be able to connect to 2 external monitors (if you have a DVI-out and the correct video card) but most likely you'll only be able to connect to one external monitor with a VGA. Your 4 monitor setup seems perfect, why do you want to goto a laptop? Instead, I would suggest putting all your files online (dropbox, etc) and use the the desktop as your primary but have a laptop available when you want to trade\research\etc from your backyard or in front of your couch! MMS

I still see him lurking around the forums ... DBPhoenix come back! MMS

Join us for a replay of the live trading training webinar we previously hosted. The 12 Commandments of Trading will be detailed -- important for all levels of traders. We'll cover all the basics including what has tripped us up in our trading over the years and at the end answer a number of questions from the Traders Laboratory community. You can watch a replay here: http://www.videos.traderslaboratory.com/video/901 A PDF document of the slides that were presented are available here for your reference: http://www.traderslaboratory.com/webinars/12Commandmentspdf.pdf Thanks and we hope you enjoy. MMS

Have you ever wondered what most traders consider their top trading rule? The one that with all their might they stick to with nothing but stubbornness, discipline and commitment? This is just the question Traders Laboratory (TL) member "RXS005" put to our community and the answers were fascinating. Here's the Top 10 that were provided, and you'll clearly profit more if you put these into place in your trading. Skill level doesn't matter, whether a beginner or experienced, there's some real trading gems here. The Top 10, in no particular order: 1. "RXS005" had this to say: Never Trade before news ( I have been whipsawed several times and it hurts!) I Wait for all the news to be baked in and let the markets show me the direction. 2. "Tikitrader" said: Stick with the plan and trade whats displayed ignore the urge to create before it too late. 3. "AgeKay" had this to offer: NEVER average down. You only learn this the hard way. 4. "METrades" picked up on one we've all done: #1 Rule: Cut your losses quickly. Once a trade turns against you, kill that emotional thread that says, "It'll come back". You may look at cutting losses, as losing money, but actually, it's a strategy. It's proper management, that will "save" you money, and a piece of mind, in the longer run. 5. Pre-Market Routine and Preparation of Thyself and System (both) was pointed out by "Minoo" he went onto state "As per myself, the above is more of a Process or Good Habit. In my book, If my mind knows of a Rule it inadvertently wonders off to break it." (MMS notes: I think this is a good point -- you need to know yourself and if you don't, you're about to find out everything you ever wanted to know - the good, the bad and the ugly when you trade.) "TheDude" likewise felt that following trade rules could be overrated Tying to find a 'rule', 'set-up', whatever to give that elusive edge is a hiding to disaster. The market cycle is always changing and to expect a rule to apply all the time and generate serious coin just ain't going to happen. 6. "Amswak" felt METrades was onto something and agreed that Never rationalize a loss. The moment you say "It'll come back," you've probably already gone too far. 7. "emg" kept it simple: here is my rule #1. control emotion. Simple but very challenging. 8. DO NO PREDICT (a.k.a. having a BIAS not based on what is actually happening) was what "Attila" had to say. 9. The most important thing is to love your money losing trades and your drawdowns as much as your winners and winning periods. If you can achieve that then fear can disappear and all the discipline issues become much much easier says "Kiwi" 10. Gabriel Baryard My number 1 rule is this, when trading never desire a win or a loss, simply desire an outcome. And, there were just so many great gems here's a few more bonus contributions to the #1 Rule to Trade By: wrbtrader: #1 rule for me is to "never ignore key market events" (e.g. international economic calendar, global events, breaking news and closing times of other key markets). tams: There is a lesson in every trade, especially the losing trades. You've got to embrace them to learn them. AgeKay: I've never learning anything from winning trades, it was always the losing trades that taught me a lesson. Siuya: On getting the head around losing trades, a great piece of advice is not to think about them in terms of individual losses but as part of a series of trades. Once you understand and accept that there will be losses, its a matter of reminding yourself with these losses there will be wins, and that is what you are after. Every business has them, from inventory losses, spoilage, drilling mines that dont work until you hit the mother load, reasearch and development. Its all a matter of 'tricking' yourself in how they are perceived. The full thread can be found here: http://www.traderslaboratory.com/for...rule-7891.html

download it here Download your free copy of How to Spot Trading Opportunities now. MMS

Hi Thomas, Welcome to the forums ... thanks for you story. There is lots of content here about trading mindset and if you are scared, don't trade! But best of luck to you and please enjoy TL. MMS

Hi, Welcome to both of you ... feel free to post questions and get into the conversations here. Best of luck trading! MMS

Hey Tams, Thanks for the reminder ... I will look into and resolve it this week thanks, MMS

You can find low-risk, high-probability trading opportunities by trading with the trend. The trick is to find the end of market corrections, so you can position yourself for the next move in the direction of the trend. This excerpt from Jeffrey Kennedy's free 47-page eBook How to Spot Trading Opportunities explains where to find bullish and bearish trade setups in your charts and how to zero-in on these opportunities. If this lesson interests you, the full 47-page eBook is free through July 6. On the left-hand side of the illustration below, there are two bullish trade setups. As traders, we want to wait for the wave (2) correction to be complete so we can catch the move up in wave (3) – this is the trade. What we are trying to do in this bullish trade setup is anticipate the potential for profits on the buy-side as prices move up in wave (3). Another bullish trade setup is at the end of wave (4). As traders, we are looking to buy the pullback and position ourselves within the direction of the larger up-trend. Remember, three-wave moves are corrections, which means that they are countertrend structures. On the other hand, five-wave moves define the larger trend. As traders, we want to determine what the trend is and trade in the direction of the trend. Our buying opportunity to rejoin the trend is whenever the trend pauses and forms a correction. Now, let’s look at the right-hand side of the illustration where we see two bearish setups. When a five-wave move is complete, it is retraced in three waves as a correction. The end of the five-wave move presents the first trading opportunity that we can take advantage of the short side (or the sell side) as the wave (A) down begins. Notice the second bearish trade setup gives us another shorting opportunity as wave (B) tops. So, within the classic wave pattern of five waves up and three waves down, we have four high-probability trading opportunities in which we are either positioning ourselves in the direction of the trend or identifying termination points of a trend. I want to share with you some tricks I have picked up over the years about how to analyze corrective waves and their termination points. The single most important thing I’ve learned from analyzing corrections is that corrective or countertrend price action is usually contained by parallel lines. As shown above, draw the parallel lines by beginning at the origin of wave A and going to the extreme of wave B. You draw a parallel of that line off the extreme of wave A. So basically you have a small, slightly angled downward price channel. This will show you the containment region for wave C. It also shows you an area toward the bottom of the lower trend line where you can expect a reversal in price. Here is another example. Again, you draw the parallel lines off the origin of wave A, the extreme of wave A and the extreme of wave B. Toward the upper end of the upper trend line, you will usually see a reversal in price. This example shows how countertrend price action is contained by parallel lines in the British pound, 60-minute, all sessions. Why is it important to know parallel lines contain the corrective or countertrend price action? Number one, it will increase your confidence that you are indeed labeling a countertrend move properly. Number two, it identifies areas where you will likely see prices reverse. For example, we see this reversal up near the top. This brief trading lesson is just a small example of the opportunities you can find once you learn to identify key market patterns. Learn more in your free 47-page eBook, How to Spot Trading Opportunities. This valuable eBook is regularly $79, but you can get it free through July 6. Download your free copy of How to Spot Trading Opportunities now. This article was syndicated by Elliott Wave International. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Thats a great post DD - here it is everyone http://www.traderslaboratory.com/forums/technical-analysis/10189-relative-strength.html MMS

Not only that, shorting has unlimited downside ... if the stock jumps 3x your down 3x. But you can only lose 1x of your money if you buy. And to further my other thread about speculators, does 'shorting' serve any purpose except allowing people to gun down a stock? Anyhow, that damn wh*re of a stock, I bet she dated all of us ... MMS