Wednesday, June 23, 2010

Wednesday Notes - MATD Open

While we wait for FOMC action this afternoon, here's a glimpse of this morning's MATD trade as narrated live inside the tank. Click to view; Note I've excluded comments from the Jellies for privacy purposes, and the Globex session short bias played out prior to the U.S. regular session open. 

Some of the shorthand can be found in last year's Jellie acronymn dictionary post.

Note "TMAR" isn't listed and means "Take the money and run", "TD" means "Tick Divergence", "LOD" means "Low of Day" (after the blood has been spilled), and "TUB" means "Trust Until Broken".  And if you've been in a cave for the last few years, "MATD" stands for the "Morning after a Trend Day", which provides one of the most consistent sources of revenue for this trader.

As always, my preference is to be flat during any scheduled news announcement, which in this case was sandwiched around the two highlighted sequences.

A full description of all MATD strategies can be found in the Jellie Webinars.


YM-Trader said...

Don, Your mention of fish oil yesterday to help maintain focus was helpful. I'm 5 years older than you and not looking for age related excuses to be "brain lazy" in the afternoon. I don't know how many hours/day you trade but are there other methods you've used over the years to stay sharp after the first couple hours daytrading? This is a lot more serious issue than some may think. Just being able to maintain focus is, in my mind, one of the biggest keys to success. Thanks.

Don Miller said...

YM - I agree that sustaining focus is critical. At this end, it's not only "serious", but it's frankly about the only thing that will ever (1) derail me short-term or (2) take me out of the business for good long-term.

I've tried Ginkgo, but developed an allergy to it. Taking breaks helps (I try not to trade 9-9:30am ET as the market is transitioning to the U.S. general session), and I hear exercise can work wonders.

I need to pursue that one :-).


Unknown said...

Wow...thank you for posting the narrative of this mornings MATD. It certainly helped me zero in on the real focus items.

Thank Don. Feel free to do this again (and again). It does clarify some of the MATD Q&A from the Jellie Webinars.


Andrew said...

What about only trading for 2-3 hours and then doing something else for the rest of the day?

I believe that most so-called primitive hunter gatherers actually spent a very small part of their time working to provide the subsistence essentials for daily life and that the rest of their time was devoted to more individual and social play.

Trading is though a great game to play, and quite an addictive one at that....!