Xiao si

Lots of great points here, and i can relate to trying intra-day trading after swing trading thinking it would generate some cash...dropped 5k in a week and stopped trading quick smart! My systems will be based on repeating patterns i see on the time and sales in the futs, and on time and sales and level II for US equities. Already on the K200 i can see repeating setups at key numbers, i don't think finding setups will be an issue, but pulling the trigger where i can get the most bang for the buck will be! Overtrading will be where theres too much choppy action and i just can't catch a move because i'm trading something that just is not there, be patient and wait for the setups. By the way, if you haven't looked at the K200 then its worth a look, lots of volume and movement. Cheers, XS

Xiao Si is the nickname that my Chinese friends gave me based on my real first name...its means little...and then my name. I'm lucky that in my current situation we can afford for me to take the time and confidently develop my plans and strategies. My previous career is still in demand here in Asia so i can always go back if i ever needed to but i am sure i'll be fine. Cheers, XS

Actually swing trading was where i cut my teeth, intraday is where i want to be until my eyes wear out..... Agree on the boredom.... Cheers, XS

Yes, all of these are great points....my fiancee keeps me busy organizing our wedding and I've got Chinese to learn as well. I have used multiple screens for 3 years now, I'm down to three from 4....no room in my new study for the 4th. Here's an old photo of my setup. Much neater now in our new place in Suzhou, bigger desk and no cables hanging around. Cheers, XS

What i would really like (my goal) is to be in a position to take advantage of index futures trading (Asian...K200, MHI, SPI) when there is some movement, so either on the open or during periods of global volatility. Then also if i can become reasonably good at intra-day on US stocks (much more intense in my view) with movement on and around the open then i feel i would have a well rounded plan that would present me with profitable setups in most market conditions. All of time i can still maintain my swing trading account as well as a longer term account that i trade. The latter two don't require the time as i outsource the trade picks so its more of a trade management issue. Right now I'm learning to read the tape and i can tell you it is a very rewarding learning experience with only a little amount of screen time yielding some interesting and remarkable observations that repeat quite frequently. I'm also taking the tape reading course by the guys at SMB Capital. Still putting my business plan together as well. It been a week of very long days, up at 7 am and then off to bed after midnight, trying to get as much screen time and work done on my plans and systems. A real eye cooker.:missy: Cheers, XS

Sounds like a Thai girl i knew once........ Xiao Si

The biggest single thing that i changed was to plan my trades better and not just trade anything....i got out of intraday FX because it was killing me and i could not find a system to trade it successfully intraday. The time frame was not right for me. Given my time constraints i got into swing/position trading, which was a better time frame for me and it allowed me to better plan the trades and be selective about taking trades that met my criteria. The other big thing i've learned is to be patient, the markets and thier opportunties will be there another day. Wait for the setups to come to you, don't try and make something out of nothing. Thanks for asking, good question. Cheers, Xiao Si

Today on the IB SIM we have the STW, the K200, and MHI. Each one with time and sales, the open book, and a simple chart. Love my screen time...just need some wake up volume! Cheers, Xiao Si

G'day folks....after 6 years of trading part time and recently resigning my full time job, i have finally taken the plunge into the world of trading full time as a business. The next 3 months will be spent developing my business plan, trading systems and working to test, validate, execute and implement those plans. I am lucky enough to be very well capitalized after several years of savings and swing/position trading part time. I have experienced the loss of my trading account on several occasions before realizing a better degree of success. My plan involves a swing trading account as well as the newer addition of intraday index futures and equities. I believe one of my advantages is my strong work ethic and love of a challenge. A positive attitude and the ability to visualize my goals will come in handy as well. Most of all i know that i can succeed at this, and i will. One thing i am clearly lacking due to my location, is a good trading mentor that i can correspond with frequently and emulate. Feel free to offer! I'm looking forward to getting to know the community here and hopefully i can contribute with my relatively 'light' experience. Cheers, Xiao Si (Pronounced shao seh)