small timeframes are tough due to the tendency for randomness to increas as time horizon decreases (my observation). I have concluded that patience is essential.
yes that was funny.. the bug thing.. I didn't think I was the only one obsessed somehow.. if you saw elsewhere my posts re afternoon trading I have to report that I have been drawn back once more to the full monty of trading.. from dawn to dusk.. well almost.. I tried doing other needed jobs during the morning and staying out until the evening but it was all hopeless, I had to keep coming in and seeing how it was going.. watching a bit of telly.. logging on just to see a bit of my charts... one thing led to another and yes.. I started trading early again.. but I can stop any time I want... I can.. honestly.. I can...
"small timeframes are tough due to the tendency for randomness to increas as time horizon decreases (my observation). I have concluded that patience is essential". Good observation - when I used QQL - charts - they didn't have a 10 minute -chart setting. I am now planning on using 10 minute charts to pull the trigger, instead of 5 minute charts. Of course, I will use 60 min. and daily charts for the trend. Also weekly charts are best at hi-lighting the big bear
Thanks for that great link - I'm going to read it every morning befo' the market opens like a fuckin' hymn....kinda like old school warriors who said special prayers before they went into battle. (Ever see the 13th Warrior?) I'm fascinated that you and your wife are both obsessed with the markets - my situation is truly the opposite - my significant hoochie has no interest in the markets and constantly reminds me of this...I think she's jealous of my lifestyle - but anyway - would you say it's a good or a bad thing?
The article as a whole is pretty good. However, the author showed a bias against short term trading in his writing (cautions against looking at your position more than every few days). It is also interesting but perhaps coincidental that the article was copyrighted in 1999, at the height of the buy and hold revolution. I wonder how he has fared since.
Opposites attract; it would be really boring to be in a room with two of me. I relish my babe's disdain for my trading because she brings me into her world which is so exciting and different. Give and take i guess one would say. Just so long as she or other acquaintances aren't negative is important. People we associate with socially don't have to agree with us just respect what we do and vice versa. Always surround yourself with positive uplifting people is enough. Most people just don't 'understand' traders or the trading mentality where pushing a few buttons a day while sitting at home in your pj's and earning more than they do is somehow considered strange. It can cause envy so I'm careful to tell people i'm retired or some such bs. But surrounding oneself with traders isn't good either, your mind needs a break from what it does during work. and burnout is a distinct possibility without variety. Living well is the best revenge.
Hiya Bung! well.. for myself I think its definitely a good thing.. and my own sig-hooch is a great encouragement to me without whom I would hardly have travelled so far down this rocky road... and she is for sure jealous of my lifestyle, having spent zillions of years labouring away as an accountant.. yes she knows her figures! She thinks I can make it at this game and keep her in the style she would wish to become accustomed to.. which is good enuff for me.. I just hope she knows what she is talking about! Anyway, this weekend (ireland managed a draw.. hoo-hoo and england did so too... hoo-hoo-too) the main event around these parts are the arrival of a bunch (five) of furry little chicks... cleverly hatched by mrs (don't fuck with me) leghorn-hen... so I can scarcely get her to have a decent five hour conversation about trading at all! Neil
Yes I agree with the above.. just thought there were a few interesting observations there but also noticed the bias against our short termism.. If any one has any links to other trading articles of interest please feel free to post em here Neil
How come none of the monster traders I know of have written books (save Louie Borsellino)? Why do they stay squirrelled away in their compounds?