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youngsequan

Trading on the Weekends

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Do your research for the week coming up.

 

Trade off of weekly charts and determine what your trades will be starting Monday.

 

Start trading forex Sunday evening when the market opens -- though usually it's quiet except in the JPY crosses.

 

Review the week's prior trades and go over your trade plan.

 

Other than that, and all those can be valuable use of your time you're not going to be trading for dollars over the weekend.

 

MMS

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Hmmm. Unless there's a VALID reason that I'm missing, it sounds like you "MAY" have a Gambling Addiction problem, are POSSIBLY an ADRENALINE JUNKIE, or some combination of both.

 

Please note that I typed MAY and POSSIBLY. I cannot tell you that you are or are NOT something. I am merely waving a few RED FLAGS for you to consider.

 

I have personally been there, caused myself and some loved ones irrepairable financia damage, and in effect screwed a chunk of my life up pretty well trading. It's taken many years of "Shrink-Time" to understand why I was doing this and finally able to get back into the markets and be accountable, profitable, and in control of my emotions.

 

Be well, trade wisely and profitably.

 

Tomaz M

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  youngsequan said:
Hello Everyone,

 

I day trade stock and I'm looking for something to trade on the weekends.

 

Does anyone have any ideas

 

Thanks

 

Not a lot of helpful answers for ya here. I don't really have any either...

I don't think it's that silly to want something to trade weekends. Especially if you are like most of us and have a regular job during the week. I have often wondered myself if there was something that could be traded over the weekend when I had the time, but I haven't found anything. The best you can do is find something to trade early mornings or late at night.

Otherwise, like some have been saying, take the weekends to look over the carts and study the price action.

The other thing to try is forget about day-trading and look at daily charts. That will give you plenty to do over the weekend. Read Darvas's book. We don't need to day-trade. We just think we do.

 

John

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You might consider trying NinjaTrader Free, Multicharts MP, or even NeoTicker if you really want to do some Replaying over the weekend.

 

I do the same, neoticker is absolutly awesome as every single window, from Quotes, T&S, Charts, Everything will light up as a xmas tree. It does require a lot of effort to get it runing.

NOTE: i forget is sunday at times!

For something less complex and considering they are free platformes. MultiCharts Mp and NinjaTrader free do more than the job.

 

Regards

Gil

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Hum... i will assume thats a joke! lol

 

Trading during weekends basicly means, runing a trading evorioment by replaying data.

It has only one purpuse, be better, trade better, make MORE money.

 

I accept this is a very subjective point of view, however i find it pricesless to build and inprint rules in ones mind.

 

Actually, as you all know, F1 pro racers Play their PlayStations, they sit on sofas and "visualize" the tracks. I wonder why they do that!

 

Its all in the mind. Also, who said the life of a profissional trader was easy?

 

Regards

StockMaster

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Good point Stockmaster - could be an excellent opportunity to use that weekend downtime to do some simulation trading. Just not knowing for sure "what comes next" on the right edge of the screen can really help give you an edge when it comes to real-time trading. You won't experience all the emotions but if you're competitive you'll certainly experience some of the tension even in virtual mode. Make a game out of it and give yourself a nice reward if you reach some objective -- and taketh away if not :)

 

MMS

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  Quote
Just not knowing for sure "what comes next" on the right edge of the screen can really help

 

Not only that, i believe most people, where i am included, falls in one of the worse pitfalls of backtesting: I call it "submind CherryPicking".

 

Ones eyes will see the patterns, our heart will go WOW, and our submind will be SURE we only see the winners!

 

Although much more time consuming, a Market replay will not only force one to see the patterns, but see what they look like also while constructing. Many times, End of Day, we say to ourselfs..." HOW could i have missed that! So Easy".

 

The reality is very cruel. Most patterns look horrible while in development. Worse, most Longs look just like shorts while developing.

Now this looks insignificant, but just imagine the Mind Power needed to see it build, get biased, and then FADE that bias with a Technical Trigger.

Its a recipiet for disaster!

 

Still, i believe 90% of being a sucessful trader resides on, Work Before and After markets and not so much in clicking the button!

 

I have extensive examples, but.. i think that paints the picture

 

Regards

Gil

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Stockmaster,

 

Yeah you hit the nail on the end. This crap is a lot of work!

 

Which is why the attrition rate is so high. Forget whether someone has a good system or ability. It's simply hard. And, high intelligence isn't any guarantee of success.

 

I figure if you cannot be honest with yourself even in demo/simulated trade you'll never have a chance or the discipline to make it in real-time.

 

Of course it's hard to do this. I'll be the first to admit I like jumping right into the line of fire in a real-time account - hey, it's more exciting that way. But, if I would have followed my advice at all times in the past there's no telling how many tens of thousands of dollars I would have saved. It's probably north of five figures easy. So is it worth the time and honesty?

 

MMS

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I figure if you cannot be honest with yourself even in demo/simulated trade you'll never have a chance or the discipline to make it in real-time. 

 

Give me 1 demo account, and i double it every day!!!!

Its easy, everyone can do it.

 

This is a VEry Very hard job, business. But still it has to be seen as a business or else all goes south VERY fast and very nasty!

 

And..forget hollidays in barbados and the sexy girls, one doesnt have time for a social life! :crap:

 

Cheerrs

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  stockmaster said:

And..forget hollidays in barbados and the sexy girls, one doesnt have time for a social life!

 

How true, I struggle with maintaining a healthy balance when I become passionate about a new method or set of indicators I really want to test, I have to make a conscious effort to walk away on occasion and enjoy the other parts of my life.

 

I have three indicator based systems I use for live trading. I've set-up a "weekend workspace" for each, basically I take the charts of the time-frames I trade from and add a set of true/false parameters. When all the indicators are "true" I have a little green arrow display for longs (red for shorts). These arrows signal entries, that must be confirmed on a smaller time frame chart (I use a chart 1/3 the size), I find this method works very well and helps keep me "intimate" with the historical data . Sure, I could have a similar set of parameters for exits, but that's where the FUN is, trying to find that sweet spot of maximum profit over a 100 trade sample. I have a hard target for my live trades but I'm always looking for a "better mousetrap." Depending on your record keeping this simple exercise can prove it's self quite rewarding, so if you're itching to trade on Sat or Sunday give it a try.

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Really? Impressive! I can sometimes barely keep from going insane when I take a position home with me over the weekend... the stress really gets to me. The fact that you can't wait to trade some more is incredible to me. I don't mean that it's stupid at all, just surprising.

 

Something that the others haven't mentioned is that you may want to take some time and look at long-term charts/ trends. As futures traders we get caught up in price movements at the level of individual ticks, so it's often hard to zoom out and keep perspective on the markets as a whole. I think that being able to manage this type of meta-perspective would help with your short-term trading as well, or at the very least it would provide some interesting insight into the economy (like whether we'll be paying $5.00/gal for gas this summer in the U.S.).

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I'd probably say for me it's the late Friday trade or trades that don't work out - and then you have the whole weekend that has to go by until you get to redeem yourself. And that's just wrong - you shouldn't want the weekend to be over right? That's why my approach to Friday's is different -- if I am doing ok but short of my goals I'll call it early or risk running into one of those dreaded negative Friday's. Full knowing I can't make it back until Monday - for me that works - lower expectations and usually more peaceful weekends.

 

MMS

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  MadMarketScientist said:
I'd probably say for me it's the late Friday trade or trades that don't work out - and then you have the whole weekend that has to go by until you get to redeem yourself. And that's just wrong - you shouldn't want the weekend to be over right? That's why my approach to Friday's is different -- if I am doing ok but short of my goals I'll call it early or risk running into one of those dreaded negative Friday's. Full knowing I can't make it back until Monday - for me that works - lower expectations and usually more peaceful weekends.

 

MMS

 

I absolutely agree... the worst kind of regret is when you make a bad decision and can't immediately take action to satisfy the urge to amend your error. At least M-Th the longest you have to wait is overnight till you can get back in the action and have a feeling of progress/ profit, but two and a half days of plotting your revenge on the markets when you should be enjoying time with family, friends or at least doing something productive is just a waste!

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  MadMarketScientist said:
I'd probably say for me it's the late Friday trade or trades that don't work out - and then you have the whole weekend that has to go by until you get to redeem yourself. And that's just wrong - you shouldn't want the weekend to be over right?

 

MMS

 

Exactly, had that very situation this weekend where I got a bit cocky and put a trade on friday afternoon ET - then realised once the market closed that I was selling at the bottom, rather than waiting for the pullback... What a relief when the market opened, though I still let it stop me out...

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