Democracy in Trading

Democracy says majority always right....If  I have a democratic mentality, I have higher chance in trading...

But if  I have a political mentality, i.e. might is right and right is might, I have a lower chance in trading...

So in trading, democracy and politic are different things.

Psycho things in trading: Expectation 3

I wrote this in BigMike under diffname, and add here..

********

"this is subtle psychology problem that I called 'wrong kind of expectation'.

Show me any traders that don't want to lose...everybody want profits. THey all expect to win, they all want precise, calculated, scientific ;) and perfect entries....

positive thinking, thinking big can help in OthER biz and money is big motivation , but this kind of 'wrong kind of expectation' cant help in trading

trading is about business that making fewer mistakes so that the correct things will take care of themselves.

Could traders avoid mistakes at all cost ? Again, nobody....

mimimises mistakes and forget about money, and you'll find that the market give you money even though you dont want it anymore.. you passed this gate/mental block and you will enter the zone. or zen of trading....

Philosophy again, now about expectation...

If you read  the right side of this blog, I put there some comments about expectation. And previous post, I also accidently  came across 'expectation' again.  The type of expectation in trading need to be clearly defined, as the mind want to know what to be expected. It's  natural for a trader expect profits, but that not realistic in trading and could bring unnecessary pressures. The most important expectation is  the ability to remained objective after a loss. It's not easy, but every traders need to pass "this gate" to proceed.

About my setups....today Friday and I took a break from simming my B&W setups. I feel good about this, but its weird that I felt no hurry as usual...enjoy the weekend, enjoy life

Black and White

Quite surprising that I found my reaction is better  in Black candles than greenred candles as I can see the imaginary lines, HH LLow more clearly.The colors can affect us > . http://www.energyandvibration.com/color.htm

Also I put my SMA below the chart, not together with the price so I can see more clearly.  This is useful to gauge the Expectation   > http://www.managementstudyguide.com/expectancy-theory-motivation.htm

+sim 120

Still in philosophical mood

Constant and change are powerful words
Only the powerfuls can keep things as normal as possible.
But change is a result that happened for old constant things
Therefore, how we can keep things constant but yet change things a bit...
Then a word such 'flexibilty' comes to the mind.
 Flexibility is a powerful concept in trading.
Among soccer fans, phrase like  'bending' like Beckham is sounded familiar.

case in point :
I changed my chart frame form my usual number and I missed the familiar signal.

lesson:
May I say like this...dont change your setup but be flexible in changing your magnifying scope ?

Egg or chicken, success at the end or the beginning of setups?

Experienced traders told us that don't change your setup often as it will make you chasing success?

I thought when we already have a proven setup/ success setup, then we will not change it ..and why we want to mess up with a good thing ?  

Thats why we need to be a clear about objective and deadline/time period to decide things ...

February will end soon, and I think I see the bulb...a tiny bulb. :)

Sim : -100

Black & white chart

I will put a black & white chart besides the colorful one.
Like a photo, sometimes B & W picture has more meaning.
And trading is an art

Edit: SIM +190

Why aspiring traders need to think like fashion designers

1) Trading is not about logic, trading is more about result of 'styles' of majority traders  (Yesterday, CL price bent at UNlogical SR lines).

2) Trading is not about an edge, but trading is more about 'fashionable tactic' of the moment. I discovered, accidently, that at the moment Fibos seems in fashion....and I know only a thing about Fibo..the 50%

3) Trading is certainly not random but trading is more like fashion of the moment.

Now, I remembered that some old traders said trading is both an art and science. I agreed in the 'art' part. I need to throw the 'science' part, less I will go 'crazy' applying 'scientific logic' in it.

Simming using 'new' idea

The idea is promising, but as its new to me, still in simming mode...need higher green % as it will drop to 50% once I go live..the most important thing is not the statistic as I will use 'cut loss method' but more "*serotonin in the brain while trading it....

* Confidence level

2nd chance

 my 1st break strategy has a diffult month in January, so i barely has live trade..this useful in lively mkt but CL lost its energy lately, so.....
I will add another strategy which i called 2nd chance @ pullback which has a smaller profit/risk range.

Near 3rd week of 2013

but Cl market seems loss of it's energy..... with occasional spurts

Japanese Song - Revival (in pictures is Kuala Lumpur)

Quiz of the jungle

TRUE OR FALSE ?

• For any trades/set ups to be successful.... majority of market participants has to believe in the same set ups (MD)
• A doji is the entry mark in a randomness, a marobozu is the entry mark in a trend
• A doji is the end mark in a trend, a marobozu is the end mark in a randomness
• To read a proper price action, let your balls read 'along' the line, not the whole chart at once

WHY ?

• Why a self-confessed price action trader use indicator(s), and the indies trader finally rely on price ?

Week 1

Only 3 trading days.
Mon - market up then in choppy session
Tue- Remained choppy
Wed - Slightly down but still in choppy mood.

More players expected next week

My screenshots in 2013

Hepi New Year ! ....Here is my 1st  screen view in SIM mode. I use 2x22"screens, 2nd screen has 2min and 30sec Sierra charts and AT Infinity DOM. After reviewed my blog records here, I plan to use these setup in Q1 2013 until further review. Before each session I shall draw my SR lines on main chart 10min and visualize my plan of the day i.e. to long, short, trending or ranging play. May the flow be with me. I may post daily OR weekly results here.

When a student is better than the guru ;)

December - the start of an end

The last batch of live trades left me with a profit of about USD 15 after costs...yeeay.
Which is on par with these guys ( http://www.livetradingchallenge.com/results.pdf )
LoL.
Now is December and it's time to think back my plan forward...
After years of colorful charts with scriibles up and down....I decided to END of these,
So now still in SIMMING mode
No pivots
No PHLC.
No indies.
I'm now testing MTF clean charts with volume only in 10m, 5m, 2m, 30s...in different shades of reds and blueish greens CandLeStiCK with optional lines drawn manually.

I will keep it at least till Q1 2013 (end Mac) whatever happens....(you saw my mind always changing wave here so often like the market)
Plan to have another rounds of live *LFT in January 2013...

* LoW freq trading ..LOL

Counting my blessing

http://blog.opentrader.com/trading-vs-sports-vs-chess-vs-poker/

internet problem at home disrupted my lifestyle :)

Lines

erased all auto lines in my charts as I would eyeballing for lines myself.
To newbies, don't do this at home :)

Taken Notes (setup adjustment)

Now I keep 3 charts (MTF):
A)  1 standard 5 min setup to see other traders screen ;). Have a standard volume indicator.
B) one  personalized chart  as my overall trading map that purely rely on candlestick pattern (without sma/ema as I found that ema/sma in that timeframe is not reliable). Have an improvised volume indicator
C ) one new chart setup that really focus on sma line & SR lines (without rely on candlestick pattern as the candlestick pattern on this chart is not that reliable). Without volume indicator

The objective is to find a balance feedback for my trading brain.

Observation of these combination as follows in SIM:
1st day = profitable but the paper profits decreased as I tend to overtrading in SIM
2nd day=antiCIPApation of move needed to done in big frame before the small frame, not vice versa then prove it...this is a CORE nature of trading. Tehnical alone is not enough. Usage of small frame like scalping, and usage of bigger frame is sniping the trend- and antiCIPation is easier in BIgger frame. The difficult thing is anticipation is not printed on chart- so I cant trust my eye, I need to trust my judgment. based on tehnical dan some funnymentals.

If you think pro traders are so smart....

then you have to watch this :)

http://www.livetradingchallenge.com/schedule.htm

Backward and forward

After several series of Live trading, I did some review of my trading to find out why I cant make some decision when the time come. And the key seems to be in volume-related issues : choppy, ranging as happened lately in CL. Will take some time before moving back to live trading. Need to check if I need to change that ema to sma which I found is better line

No setup - ready to rumble

No trade. Only 1 unproven experimental setup pop-up.
Cl prepareditself for a next strong move

Flat set up only for 9am

1st win, 2nd lose (flat setup)....as the liquidity is low before that.
2max trades before 9

my other chart in its full glory...
oh well, I dunno why I kept chosen the difficult path .
 may be i'm afraid of success ;(

Good training for candlestick newbie

http://chartgame.com/play.cgi?brmu8v

clik timelapse button to continue

Possible new oil field

Rolloverdays.
My 3 regular setups were no where. However, there 2 other potential patterns emerged that worth  to beobserve from now.
And that make it to 5.

The different sameness

No trade. The old men meetings FOMC made market difficult to trade.
But suddenly the setup appeared in OTHER frame. So I missed out
The right frame can be changeable as market behaviour differ.
but setup remain the same

Peanuts

Lack of Volume today - 1 P trade

No way through

1st trade won using mini Flat setup , 2nd trade using regular setup but market too weak.
Nett positive
In market like this, risk is higher

decided to stop after 2nd trade as per rule

Run away chart -

No trade coz no setup but I reminded of this Flat setup.