"Preparing" for tomorrow's MATD and some reinforcing thoughts on traders "earning" their freedom ... which is no day at the beach despite the quick tour of my favorite unwinding spot.
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About Me
- Don Miller
- Don is an intraday S&P E-Mini Trader and Member of the CME who has educated traders and advocated for industry transparency since 1999. Long-term performance of his privately traded fund ranks among the industry's best at over +800% from its 2004 inception to 2010. His 2008 performance of +214% +$1.6 Million bested the industry's top CTAs.
Feb 2010 MoneyShow Interviews
Feb NY Expo Presentation
Don's 2002-2010 Interviews & Articles
2009 Interview With Matt Davio
2009 Presentation to Linda Raschke's Team
2009 Interview with Tim Bourquin
Don't Let Congress Turn U.S. Markets Into A Ghost Town
Every Moment of Every Day
Click on Chart For What This Means
October 2009 Jellie Article
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6 comments:
Let me just say I needed that post as much as you did. On the 24" screen I felt almost like I could smell the ocean and I kind of experienced that reflective feeling you get when you visit the beach...
Unlike you I ended up trading until the close following some unpleasant mid-day results where I stubbornly kept anticipating a reversal which never came. I finally realized what I was doing and just went with the trend. Although I managed to completely turn around my day it was with a bit more stress than I care to experience.
Looking forward to some of Don's favorite MATD.
Thanks Don. Nice post. And yes, I think you should pay yourself with more time by the ocean!
your best post yet :-)
Cooper said that sometimes you can learn the most about the market by going to the ocean and just watching the waves. Great video!
Loved your post Don,I have learned the hard way not to take the ocean for granted. I live and traded in Pensacola Florida where BP oil spill is destroying our beautiful beaches.
I wish I would have paid myself with more beach time; I earned it but did not take it now it is to late. Fellow traders take time to smell the roses. Just my thoughts hope it helps someone.
Paradise Lost.
http://www.huffingtonpost.com/2010/04/30/louisiana-oil-spill-2010_n_558287.html#s102740
I listened to the video while doing the dishes. (One reason I have a laptop is for the portability).
So I missed the ocean scenes, but there was something you said that really grabbed me.
You said you make three-quarters of your profits from the MATD oscillations. Wow!
I know a lot of former locals (independent market makers who used to jam the pits in Chicago and New York) who complain that one can't make money trading anymore. They say that high-frequency traders and algo traders ("the damn computers!") have sucked the opportunity out of the markets.
Don, I love that you have put the lie to this myth. I love how you emphasize (either directly or indirectly) that our limitations are usually self-imposed and that our attitude tends to create its own reality.
Great post, thanks!
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