Start of the bounce?

The way market action last Friday seems the start of the bounce?

I guess so, by looking at the chart you can notice that the participants jumped in aggressively and bought the market between 11:00 am. and 12:00 noon ET.

I presume it might continue to struggle for a while but the Santa rally is in the offing.

It will consolidate within a week or so and might rally from thereon.

Let's see come Monday's trading if the sentiments look positive.

 

And Apple (APPL) stock is now being sold daily by the profiteers.

A sign that the $1,000.00 per share valuation is now impossible to reach?

The way it looks from this daily chart, it reached already the maximum price.

Time to get out while there still some profit?

 

 

 

 

And facebook (FB) is now a buy?

Seems so as this daily chart is showing.

What's Happening With The Market?

Is the market plunging?

That's what these charts says so!

Unless Santa will rescue the market and pour/print some money to buy the market, there will be no sign of relief.

Bears are on a roll and the bulls are covering in darkness.

Time for the 'dip' investors to look for bargains, if they still have some 'parked' money.

Let's see in the days or weeks ahead if the market will run out (of sells) and time for the buyers to step in.

But i guess this market correction will stay for a while possibly weeks/months before it can get back its traction.

Let's just all be patient.

 

 

 

Just to have something to post?

Not doing any trading for the market is not giving some opportunities or ideas how to participate.

The market is acting inappropriate (these days?) and its hard to make a conclusive evidence to make a sound judgment how we can react or take action with its bipolar? (as Warren Buffet sometimes referred to?) behavior.

When the market (re)acts that way, so does most of the participants?

I don't know, but when the market is acting like this, the best way for the trader is to stay idle and let the market do what it wants to do.

Have patience and wait until the market settles or when the market becomes rationale.

For today's market, it's still suffering a disorder and (was) not yet diagnosed when or what kind of cure/pill to be given to.

I guess the market needs a tranquilizer to take a breather or the form of recreational medicine (like that one that was ratified/legalized by some states?).

As can be seen from this 5-min. chart (unless you are an HFT's), if you are trading alone as a discretionary, you cannot trade this in comfort? or it will be hard to participate.

I don't know but this is how i can characterized this market as of the moment.

This is also a lesson to learn for the future, since the market as we all know is always acting in an irrational manner.

No doubt about that, we cannot expect the market to act efficiently.

That's why we as traders needs to learn from it and work on our self too.

Monday's Trade Setup

The market was on a slow movement today partly because of the holiday (Veteran's Day), most participants are on vacation.

For the trade today, the market seems it will continue its downside momentum when it opened high only to lose its fire and made a flat consolidation below the settlement price.

Opening for an opportunity to buy within the ma's crossover.

The exit is pointed above (with an arrow).

Patience needs to exercise with this kind of trade.

Friday's Market Action

The market barely risen from its hole last Friday's action.

But at least it had shown a sign of relief that it can bounce back from the grave.

For Friday's trade, a buy in the open and sell below R1 (resistance) is the most appropriate spot to make a profit as shown from this 5-min. chart.

Steve Job's Apple (AAPL) also risen from the dead when it bounced back last Friday's session.

And Facebook (FB) stock needs to face reality that it has a  hard time convincing investors to move the stock from its previous IPO price of $40.00 down to its present price of $19.18. I guess its needs fresh ideas to convince this social networking users in a more productive and appropriate manner rather than using it for 'fun'?

Thursday's Trade Setup

The market continues to slide down.

The sellers outnumber the buyers and the market is not showing any sign of relief.

For today's market trade, a sell (short) in the open and cover at the close is the best way to make money.

An easy day today to make money trading the market.

The Markets After Effect Election

The market reacted sharply from the recent electoral conclusion.

Seems the market did not agree with the election result and the sell off triggered.

All the market indices were all on the selling spree as soon as the market opens and continues till the closed.

I will not be surprised if the market will all break lose come tomorrow's market.

The following charts shows how the market reacted with the recent election.

 

 

 

 

And the Apple (AAPL) stock is losing its eye from the investor.

Is this the end of cliff for Apple?

Your guess is as good as mine!

Presidential Election Trade Setup

The market was on the uncertain moves early in the open probably because of the presidential election.

I guess the market participants are gauging the trend of the voters who is going to get the majority votes because of the closed contest.

And this chart shows that by the time (around 11:30 am. E.T.) the market rallied, seems the participants had the idea who's going to win.

Let's just wait and see by night time!

For the trade today, I call it the Presidential Election Trade Setup.

Buying at the settlement price when the MA's shows confirmation (arrow) for a long trade.

Exit the trade within the R2 level is the  best trade for today considering the market is looking for a certain direction.

No need to wait for the whole market session for it might turn volatile at the latter part because of the election.

Trade safely!

The most indebted man in the world owes former employer $6.3 billion

Former financial arbitrage trader Jerome Kerviel is the most indebted man on the planet, owing his former employer $6.3 billion.

The amount Kerviel owes to French bank Societe Generale for fraudulent trades made in 2007 and 2008 would make Kerviel one of the 50 richest people in America if those debts were assets.
 

But Kerviel cannot even begin paying off his debts until 2015, when he is scheduled to be released from prison. Kerviel recently lost an appeal case in which he argued the corruption at Societe Generale was widespread.

The Atlantic's Matthew O'Brien writes that Kerviel managed €50 billion ($73 billion in unadjusted dollars) worth of unauthorized trades during his tenure at Societe Generale, using a sophisticated scheme of computer hacking and deceptive trades to deceive the bank.

O'Brien writes:

"In plain English, arbitrage just means taking advantage of discrepancies when things should have the same price, but don't. The idea is to buy the cheaper one, sell the more expensive one, and then wait for them to converge. The beauty is it doesn't matter whether markets go up or down--you're both long and short--just that the prices actually converge."

O'Brien spoke with former investment banker and current University of San Diego law professor Frank Partnoy about the logistics of trying to collect $6.3 billion from a single individual.

"Well, he's obviously not going to be able to pay the fine," Partnoy told the Atlantic. "What happened to Kerviel is the financial equivalent of sentencing someone to life plus 100 years. They'll likely reach some kind of agreement where a significant percentage of any money he makes for the rest of his life will be paid into a fund to cover the fine. He'll be like Sisyphus pushing the boulder up the hill every day for the rest of his life."

And while you could debate whether there are better ways for Kerviel to pay back Societe Generale, Partnoy offers a stark comparison to the fines levied against some of the world's largest financial institutions. In 2010, Goldman Sachs agreed to a $550 million settlement with Securities Exchange Commission, paid in part to investors and the U.S. government, which the SEC described as the largest settlement in history against any Wall Street firm.

Facebook's Sandberg sells $7.4 million in stock

Reuters – Fri, Nov 2, 2012 7:43 PM EDT

By Alexei Oreskovic

 

SAN FRANCISCO (Reuters) - Facebook Inc Chief Operating Officer Sheryl Sandberg and two other executives at the social networking company sold millions of dollars worth of stock this week as restrictions on insider trading expired.

Sandberg netted about $7.44 million by selling roughly 353,000 Facebook shares on Wednesday, according to a filing with the SEC on Friday. Sandberg still owns roughly 20 million vested shares of Facebook stock, including shares held in her trusts, according to the filing.

Facebook General Counsel Theodore Ullyot and Chief Accounting Officer David Spillane also sold millions of dollars worth of shares this week, according to filings. All the Facebook executives' sales were part of pre-arranged stock trading plans.

The sales are the first by Facebook's senior management following the company's high-profile initial public offering in May.

The world's No.1 online social network became the only U.S. company to debut with a market value of more than $100 billion, but has seen its value plunge more than 40 percent since then on concerns about its long-term money-making prospects.

Shares of Facebook, which were priced at $38 in the IPO, closed Friday's regular session down 3 cents at $21.18.

The flood of shares set to hit the market as insider trading "lock-up" provisions expire in several phases have added to the pressure on Facebook's stock.

Roughly 230 million shares of Facebook became eligible for trading this week, as trading restrictions for employees expired. Another 800 million shares will be eligible for trading on November 14, significantly expanding the "float" of roughly 692 million Facebook shares that were available for trading as of September 30.

Facebook's 28-year-old chief executive, Mark Zuckerberg, has committed to not sell any shares before September 2013.

Ullyot sold slightly more than 149,000 shares on Wednesday and Thursday, collecting $3.13 million. Ullyot has an additional 1.27 million in vested shares.

Spillane sold 256,000 shares on Wednesday, more than half of his vested shares, for proceeds of $5.4 million. Spillane had more than 863,000 Facebook shares, including unvested shares, according to a filing in May.

(Reporting By Alexei Oreskovic; Editing by Bernard Orr)

Visa Is The Passport To Good Investing

Showing the weekly and monthly chart of the Visa (V) stock since its IPO in the mid of 2009.

It formed a cup with a handle between 2009 and 2010 (the monthly chart).

Since then it continues to go higher.

This is the classic form of good investing, the buy and hold as Warren Buffet, Peter Lynch profess?

'A buy what you know investing', considering Visa is a household name before it bacame a public company.

If you buy 100 shares then say $60.00 per share ($6,000.00) , your investment now at $143.00 is netting +$8,300.00 ($14,300.00).

That's more than 50% gain, and the stock will continue to go higher the way it is performing.

 

Friday's Trade Setup

After Thursday's jumper trade, the market somersaulted last Friday's trading day.

After the euphoria, the market turn ugly and made a turnaround.

Probably because of Friday, a profit taking days for the traders.

Likewise of the Apple stock (AAPL), it went on a selling spree the past days and that affected the whole market.

It's like where the Apple goes, so the market too.

For last Friday's trade setup, the best entry is to short the market where it starts the signal below the settlement price as shown from the arrow below.

The moving averages gave the confirmation when its starts to crosses over and descends below the previous close.

Exit the trade before the market close.

Thursday's Jumper Trade

The market 'jumped' early in the market open last Thursday's market.

It continues to move upwards till the close.

I guess all the participants were eager to buy the market because of 'after effect' from Sandy (hurricane) that batters the east coast especially in New York where the market seats.

The best entry is to buy the market in the open and exit before the close for a no-brainer trade?

This trade setup is a predictable 'kinda' move considering the market was closed the past two days due to the storm and the market was initially opened last Wednesday.

Most participants were still out then (last Wednesday) that's why the market move erratically on that day.

Come Thursday, all participants were all pumped up to buy the market that's why it surge in the open.

The market is a study of human behavior, and it's important to monitor the market sentiments.

Read the minds of the market is all that matters!

 

 

Friday's Trade Setup

The market was on the downtrend for the past four days of trading and doesn't show any sign of recovery.

There lots of events that was happening from around the globe that affected the whole market and likewise the earnings report of the most notable companies that moves the market, i.e., AAPL, GOOG, and others.

And most participants are taking early profits prior to the coming December holidays.

They are taking profits early to get the most advantage in price while the market is still way up.

At  the same time they are taking position from other instruments, 'buying on the deep opportunities'.

For today's market, the Nasdaq index show some kind of late trading opportunity.

As can be seen from the chart below, the QQQ etf's, which is the equivalent 'kinda' of the NQ futures.

The best entry is when it made/show a reversal pattern above the S1 level.

It briefly consolidates/tested above that level and then vertically bounced up to the R1 level.

Nice catch if you were able to take this kind of opportunity/setup.

And the ascending MA's gave the confirmation for a long trade.

Have a nice weekend fellow traders, hope you were able to capitalize on this last trading setup opportunity, erasing all the losses (for the bulls) the past four trading days.

Monday's Market Action

The market bounces back at the later part of trading.

It opened above from Friday's close only to make choppy/volatile moves almost the whole market hours.

The participants are gauging the market sentiments due to earnings reports and vital calendar market events.

Let's see come trading days ahead if the market will prevail from today's move.

 

 

Friday's Trade Setup

The market tumbled for the second day since yesterday, Thursday.

A follow through from yesterday's GOOG sell off.

A good trade today is to sell in the open and cover in the close as shown from this 5-min. chart.

Not much volatility, all sell off throughout the trading day.

Tuesday's Trade Setup

The market gap up today for the continuing bullish trend from yesterday's market.

The best entry is to buy in the open and monitor its movement till the close.

Good trading environment in today's market.

 

 

Monday's Trade Setup

The market is on the verge of downward movement the past weeks.

For today's market, it gap up in the open only to lose its momentum after an hour or so.

The best entry if within the settlement price as the two ma's crosses over.

It formed a "u" pattern and a cup with a handle bullish formation.

Spotting today's market involves recognition of pattern which plays a vital part in finding a probable trade.

The most probable exit on this setup is when the market closes its session.

Friday's Trade Setup

Today's trade was not quite convincing but the price action and the double bottom pattern made it possible to place a trade.

The double bottom is recognizable within the support level (S1).

The entry is at the arrow below for a long trade when the ma's crosses over.

The exit is at above the pivot line when it starts to lose its steam.

Making a trade when the market is like this especially it's a Friday needs full concentration in watching the price movement.

Price action is all that matters and some kind of precise trading experience.

 

 

Best Trade Setup

The market made a nice move today and the best trade is to buy in the consolidation from the open.

Exit is at the arrow above.

Best trade setup!

Tuesday's Trade Setup

The market gap up today in the open only to lose its strength for the profiteers trying to make money early on.

The best entry is from the pullback below when the ma's cross over opening for a long trade.

The exit is at the arrow above just below the R2 level.

Wednesday's Trade Setup

Not able to post some trade setups the past week for quite busy analyzing trades and other market indexes.

Though there are some breakouts the past weeks but if you are not in tune with the market timing, you will get chopped.

That's why in trading, it is important that timing plays a big part in capturing the main ingredient.

Otherwise, you will end up eating the dust and just trade for the sake of trading.

You will lose your mental capital that leads to impulsive trades.

For today's setup, the market open up high only to lose its strength after an hour or so.

It made a dramatic reversal from the support (S1) opening a long entry from the pivot line.

Exit the trade before the close for a nice trade.

Today's trade needs a lot of patience in monitoring the entry for it became choppier in-between R1 and R2 (the resistance levels).

Tuesday's Trade Setup

The market drops hard today due to unfavorable manufacturing report.

After the sell off, the market made a turnaround and recovers.

The best entry is from above the support when it consolidates.

As of this posting, the market is still recovering.

Exit the trade at your target price.

 

 

 

Friday's Market Trade

The market made an upside move in the overnight session only to make it choppy in the regular open.

Not quite a tradeable market but a scalping system of trade.

Notice the pattern, it's like a "sling shot" (y), seems trying to send a message that the market might hit/attack you if you are not ready trading Friday's market.

Lots of volatility, partly because of Bernanke's Jackson Hole meeting.

Was able to trade this one after 10:00 am. ET but my first trade flopped, got stopped out.

Able to recover after then when it consolidates and the price action turns favorable.

Exit my trade (in-between the breakout) for I profess Bernard Baruch kinda' trade, "I make my money selling early"!.

After that, the market turns choppy till the close.

 

 

Wednesday's Trade Setup

Was not able to post some setups the past week or so for quite busy making trades and analyzing the market trends.

It's been an awful trading the market this month of August and if you're not that nimble with trades, you will get chopped.

One very important lesson I learned this month is not to overtrade and not to succumb to greed.

Once you make a decent profit from a few trades in the morning, stop trading for the day or else you will just give back what you made especially if you are in the market the whole trading day.

Trading the market in the afternoon session is an exercise of greediness, for the market at this time are being controlled by the HFT's.

That's where discipline counts.

For today's session, the market drops in the open and made a dramatic "v" formation opening a reversal trade setup for long (arrow below).

You can add another share/contract when it consolidates below the pivot.

Exit at your own target from thereon.

Friday's Market Trade

The market gap down last Friday's open and made a nice consolidation above the support (S1).

It made a "u" turn from thereon opening for a long trade.

Exit is at the close or within the resistance (R1).

 

Remove This Word From Your Vocabulary

From The Kirk Report...

Friday, August 17, 2012 at 01:37 PM
This market has been tough on many of us, including some of the smartest and best of the bunch. But, in the end, it is never the market that is our own worst enemy, instead it is always ourselves.
Recently I read the comments by Louis M. Bacon of Moore Capital Management who announced he was returning $2 billion to his investors. The reason he gave to The New York Times was that he had found it difficult to invest given the impossibility of predicting the European situation. He was quoted as saying, “The political involvement is so extreme — we have not seen this since the postwar era. What they are doing is trying to thwart natural market outcomes. It is amazing how important the decision-making of one person, Angela Merkel, has become to world markets.” Translation? What Mr. Bacon proposed was that it is impossible to make money in the markets when there is heavy political involvement, because political involvement introduces unpredictability in the market.
This is complete balderdash! Let me tell you something I learned many years ago. The moment you convince yourself that something is impossible, you have already failed. This is also exactly why Mr. Bacon, who I’m sure is a really bright and decent fellow, has already started down the path to his professional demise if he truly is absolutely convinced that investing in this market is impossible.
Over the years I’ve been told by more people than I care to count how it is “impossible” to make money in the market and that is “impossible” for anyone to accurately time the market. You know what, for these people, it is impossible because they’ve already convinced themselves of it. But, one lesson I’ve learned in my 20 years of trading the markets, is that nothing is impossible.
I’m not only talking about my own experiences here, but also in watching so many traders come and go through the years. In my 20 year career I’ve watched the smartest people you’ve ever seen blow themselves up and lose all of their money. At the same time I’ve seen the most miserable of failures achieve tremendous success in the market. You know what the key difference between these two groups of people is? In the end, what mattered most for the successful, was their undying, unshakeable belief in themselves and their abilities. Never, not for one second, did they think what they were trying to achieve is impossible. Because the moment they did, it would be “game over” for them.
So, if you’ve entertained such thoughts lately (and who honestly hasn’t?) it is still not too late to get back on the right track and remove the word impossible from your vocabulary. Moreover, the next time you hear someone say something is impossible, understand that for them, they are absolutely correct. But, for you, it means limitless opportunity so long as you’re willing to step up and do the work, believe in yourself even when you fail (and you will), and keep trying like no other. Do this and you’ll discover that what others see as impossible, can become your reality.
To remember this important lesson that will serve you well both in the markets and out, pick the quote from the list below that resonates best with you and write it down somewhere where you work. The very next time you hear yourself start to think something is impossible, review your favorite quote and keep working!
My Favorite Quotes On Impossible:

“There is nothing impossible to him who will try.” – Alexander the Great
“Without faith nothing is possible. With it, nothing is impossible.” – Mary McLeod Bethune
“Impossible is just a big word thrown around by small men who find it easier to live the world they’ve been given than to explore the power they have to change it. Impossible is not a fact. It’s an opinion. Impossible is not a declaration. It’s a dare. Impossible is potential. Impossible is temporary. Impossible is nothing.” – Muhammad Ali
“We are all faced with a series of great opportunities brilliantly disguised as impossible situations.” – Charles R. Swindoll
“The only place where your dream becomes impossible is in your own thinking.” – Robert Schuller
“We would accomplish many more things if we did not think of them as impossible.” – Vince Lombardi
“Because a thing seems difficult for you, do not think it impossible for anyone to accomplish.” – Marcus Aurelius
“Most of the things worth doing in the world had been declared impossible before they were done.” – Louis D. Brandeis
“Impossible only means that you haven’t found the solution yet.” – Anonymous
“To the timid and hesitating everything is impossible because it seems so.” – Sir Walter Scott
“The difference between impossible and the possible lies in a man’s determination.” – Tommy Lasorda
“I only want people around me who can do the impossible.” – Elizabeth Arden
“I wouldn’t say anything is impossible. I think that everything is possible as long as you put your mind to it and put the work and time into it.” – Michael Phelps
“Nothing is impossible – some things are just less likely than others.” – Jonathan Winters
“By striving to do the impossible man has always achieved what is possible. Those who have cautiously done no more than they believed possible have never taken a single step forward.” – Mikhail Bakunin
“I tell you the truth, if you have faith as small as a mustard seed, you can say to this mountain, “move from here to there” and it will move. Nothing will be impossible to you.” – Jesus Christ
“There is only one thing that makes a dream impossible to achieve: the fear of failure.” – Paulo Coelho
“No one gets very far unless he accomplishes the impossible at least once a day.” – Elbert Hubbard
“Some of the world’s greatest feats were accomplished by people not smart enough to know they were impossible.” – Doug Larson
“To believe a thing impossible is to make it so.” – French Proverb
“I have learned to use the word impossible with the greatest caution.” – Wernher von Braun
“Believe and act as if it were impossible to fail.” – Charles Kettering
“What we can or cannot do, what we consider possible or impossible is rarely a function of our true capability. It is more likely a function of our beliefs about who we are.” – Anthony Robbins
“It is impossible to win the race unless you venture to run, impossible to win the victory unless you dare to battle.” – Richard M. DeVos
“So many of our dreams at first seem impossible then they seem improbable and then, when we summon the will, they soon become inevitable.” – Christopher Reeve
“It’s kind of fun to do the impossible.” – Walt Disney
“The word impossible is not in my dictionary.” – Napoleon Bonaparte

Tuesday's Trade Setup

The market gap up today in the open  and shown from this 5-min. chart is the viable trade setup.

The entry is at the lower arrow within the R1 and the exit is at upper arrow just before reaching the R3 level.

Monday's Trade Setup

The market surge in the open giving room for a long trade.

Buying in the open below R1 and selling above the R2 is the nice profitable trade setup.

Though it was a choppy move as seen from this 5-min. time frame, but the upward move of higher highs kept the trade alive.

Friday's Pullback Entry

The market gap up today opening for a long entry when it pullback.

Was early to put trade in the open and lost quite a bit.


But recover the losses when made another trade from the pullback.

A positive sentiment today in the market due to favorable job and economic reports

Thursday's Reversal Trade

The market gap down today but made a dramatic reversal opening a long trade entry at S1.

To make a safe exit is at below the  R1 as pointed in the upper arrow.

Shown is the 1-min. time frame.

Nice reversal trade!

Tuesday's Choppy Market

A choppy Tuesday's market!

Seeing this kind of chart makes you feel you don't want to be in the market.

But that's how the market is, sometimes Mr. Market is confused, don't know where he's headed.

The market is on consolidation the past two days, expect a breakout by tomorrow?

I guess that what's going to happen, let's see!

My Live Interview From TST direct from CBOT

Below are excerpts from my Live Interview today direct from the pit at Chicago Board of Trade at 10:00 am. CST...

July 31, 2012; Tuesday

From TopStepTrader.com questions…

1. Why did you consider becoming a professional trader?

Answer:

I considered becoming a professional trader because of the freedom of working for yourself and the convenience of doing it at your own pace. And the benefit of making a living about the potential opportunities that the market offers.

2. How long have you been trading?

Answer:

I’ve been trading intermittently for 5 years now.

3. What product or products do you trade?

Answer:

The first three years I was trading stocks and then I switched to futures market last year trading the emini-Dow. Right now I am concentrating on NQ (Nasdaq emini).

4. Can you describe your first steps in trading compared to today?

Answer:

I can describe my first step in trading as horrible! Lots of frustration due to lack of funding and also lack of understanding of how the market works. I kept blowing-up my account because of the usual impression of looking for the shortcuts to make money right away. Right now I consider my trading has improved considerably, I learned the process of trading mainly because of my patience in learning how to put trades and continuously practicing my skills.

5. What have you done to improve your knowledge and skill?

Answer:

I did a lot of reading from hundreds of trading books, researching ideas and strategies from reliable traders’ and molding them into my own to suit my personality. Besides my journal that I write summarizing my comments of what happened to the market on a daily basis, I post ideas (in my blog) of how to put trades to further my knowledge and skills even if I am not doing actual trades, thus my daily encounters with the market is continuous and improving.

6. As a trader, what are your greatest strengths? Weaknesses?

Answer:

My greatest strength are when my parameters are congruent, that is, if I can sense the market is acting on a positive environment coupled with the signal of my strategy indicators, I can trade confidently. My weakness is my impulsiveness to trade early, so I am working on it by watching myself.

7. How do you handle highly volatile sessions, times when you are wrong more than right, and indecision?

Answer:

I try not to participate if the market is highly volatile. If I may participate, I try to wait when the market settles and from there figure out if its conducive to participate. If not, I remain on the sidelines and just observe - studying its movement until it closes. I stop trading and step back if I am wrong more than right.

8. What type of training have you received as a trader if any, and what would you suggest as the best type of education for a trader trying to go live?

Answer:

I did not receive any formal training except that I just read books and got ideas in my research from reliable sources and implement what I gather by making trades. It’s like trial and error. I failed a thousand times, and what I did was, I eliminated those thousands of failures and retain those ideas/setups that are working. And for traders wanting to go live, I suggest you go on simulation and keep on practicing putting trades. Record each trade and find out which one is working and which ones are not. Find a trading style or technique that suits ones personality and keep on doing it until it becomes familiar and workable.

9. What kind of advice do you have for novice traders or struggling traders looking to get better?

Answer.

Be patient and keep on practicing putting trades, even if you are not doing it live, make a journal (or a blog maybe) and record all your thoughts on what have you learned or the mistakes you made. Just like what I did, even if I don’t have an account, I am putting my real time trade ideas into work and posting them in my blog to monitor my progress. And you have to invest a lot of time. Keep focus and at the same time have a commitment.

10. What trading strategy do you personally prefer using and what kind of trading schedule do you have?

Answer:

I rely mostly through pattern recognition, the base and break trades that is building up from small tight bars consolidation with a sloping 9 and 20 MA’s that originates either from the pivot or the S/R levels. I trade early in the open especially if there is a big chance of capturing the breakout. If I get pummeled in the open, I will wait when the market settles between 9:30 to 12:00 Central Time and see if there is a pattern building up.

11. Have you taken the IDT and are you starting with the 70/30 profit split?

Answer:

Yes I did take the IDT course from my first Combine. I am starting with the 70/30 profit split.

12. How did having a loss limit help you become a disciplined trader?

Answer:

Having a loss limit helped me a lot to be disciplined because I don’t need to risk more of my capital.

13. What is your best trading day ever?

Answer:

I can say my best trading day ever is if I didn’t lose any and made a good trade early by capturing the breakout. In this way I don’t need to stay in the market for so long because I already accomplished my goal.

14. What are your goals as a trader with TST?

Answer:

To learn more by trading consistently and looking forward I can make something different and build a long term trading relationship with TST.

Thanks for having me!

Friday's Market Conclusion

Missed the "meat" on this one last Friday due to some important appointment for most of the whole day.

Was in the market early and traded in the open and got whipped.

The lesson there is if you will not be in the market (trading time), don't trade at all.

That's what they termed "greed" in the market (or I am overtrading?).

As one great trading passages labeled, "you cannot trade the market all the time, only fools do!"

So I am a 'fool' last Friday.

Thursday's Trade

The market gap up in the open Thursday's session only to lose its strength till the close.

The only viable trade is the S/R level reference.

The entry for long is at the R1 (the support) and the exit is at R2 (this time the resistance).

When it comes to this kind of formations wherein the market turn sideways, the best option in finding trades is the S/R levels.

Like this one!

Wednesday's Market Trade

The market drops in the open and made a nice reversal at noontime opening for long entry trade above the S1.

It made a nice consolidation above the S1.

The probable exit is at the arrow above before reaching the previous close.

Through price actions, it starts to lose its strength from that area.

Shown is the 5-min. chart.

Monday's Market Conclusion

The market drops hard Monday due to negative reports coming from overseas.

It recovers from the deep hole till the close but was not able to reach the previous close.

I guess it will be on the range/consolidation mode in the coming days.

Right now the market is on the steady range, let's see how it goes.