X is going to be off on vacation for the rest of June (and early July). He asked that I make a post a few times a week to facilitate anyone who wanted to make comments or discuss trades/setups.
Here is a photo of a funny sign (funny if it wasn't your bike, that is):
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4 comments:
7/7/11
SWKS, 15m, 5ema, Fibs OR, entry above bar 3, exit 1/2 at FE, exit 1/2 below bar 8 on 10m chart, 2.5R profit.
ADTN, 30m, 5ema, Fibs OR, entry above bar 5, exit 1/2 at FE, still in 2nd half until close below 5ema on 15m.
Hope you had a good vacation X. Looking forward to more charts and insight.
John
Joshua:
Saw your recent comment to me under the June 20th post regarding how to deal with boredom. Thought I'd answer it here vs. getting lost in an older post.
Good point about fighting boredom, and initially, I had a tough time with it. It resulted in doing stupid trades just to get some action.
I remember a while back, I started putting orders on a stock that was consolidating and had a wide spread, just to see how the market makers/algos react. Yes, they trapped me (or more like I trapped myself), and I lost. Won't ever do that again.
But now, when there aren't many setups forming or the markets are slow, I'm finding that I'm constantly researching new setups, finding ways to improve my discipline, reviewing prior trades, etc. Yes, I'm changing my frame of mind as well as my actions to become a never ending student for improvement. I'm now finding that I don't have enough time during the day (and night) to work as quickly as I can up the steep learning curve.
Many times, I also wish I was working on a trading floor alongside great traders to learn from as well as shoot the breeze, but circumstances of life won't allow that right now.
As I mentioned in a previous comment, I'm finding that Twitter / StockTwits is helping to feed my mind with great ideas (and noise) to help reduce boredom. I'm still getting the hang of it, but it really requires great discipline to know when to turn it off and/or filter the info.
It sounds like you're familiar with the paid trading chatrooms already, but I believe there are some decent and free chatrooms out there. Sorry I don't have current details, but I remember back in the days when mIRC was the thing for chatrooms. But it's been a while since I've used it so hopefully, someone else will have more up to date info.
thanks grove. i'm going to keep looking but if anybody has any clue of voice chat rooms where i can hear some market chatter and b.s. at the same time, that would be great.
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