Here are some thoughts on yet another historic week, as well as Friday's violent trade. I'll be referring to Friday's 5-minute ES chart below.
Saturday, October 11, 2008
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One trader's two-year trading and life journal designed to motivate and encourage others
6 comments:
Don - I'm quickly becoming addicted to your blog. Thanks for sharing your thoughts during this turbulent time, and I look forward to continuing to learn from you. From a fellow Red Sox fan, keep up the great work and thank you again for sharing.
Hey Tim.
Hopefully, there are worse things to get addicted to :-).
Let's hope the Sox can make it two in a row tonight.
See you around the blog.
Don
Don,
thanks heaps for the video & blog.
Don't worry about the people coming looking for "the answer" - you're insights are great. However, one of the great things I find about your blog is that you're a fellow trader, putting it on the line and talking about your experiences without selling us on a particular method (or looking to make a buck of us). As a profitable trader who sits in my room alone taking risks, it's great to hear about your reflections particularly when they're different to mine. It can be a lonely business when there is no feedback other than your P&L, even though I value the fact that its a solo effort I'm undertaking.
--Q
Hi Q.
That's the great thing about markets ... different reflections on similar topics. I guess that's what makes a market :-).
I'll continue to keep this site ad and hype free ... a true "no-spin" zone with apologies to the Fox Network.
Don
Hi Don,
I found your comments about wanting to be in the markets and being willing to be early and take stops so as not to miss the opportunity zones to be right on the money. After much frustration I am coming to the same conviction.
Even in these crazy times my read on the market has been on more often than not and yet I usually end up missing the eventual anticipated moves because I want to time the entry just right or I'm afraid of being early and having to take a stop and re-enter. I've actually kept a tab on how much real-time anticipated opportunity I've missed due to this and the number has been staggering. Literally my profits would be more than triple they are now.
So thanks for re-inforcing the idea. I think an indirect way of aggressive money management when markets are right is the willingness to enter and re-enter, thus putting more money at risk when there is more objective opportunity. Staying on the sidelines when you have a read on the market because you are afraid of being early is just not the optimal way to go at all.
Ziad
Don,
Thanks for the chat session, much appreciated.
Regards,
Andrew_A
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