Sunday, September 18, 2011
The market is on a range mode from this daily chart. Might see some volatility come Monday opening for some news coming from the Europe and the Asian markets.
Also from the Fed or other economic calendar news.
But for traders, any news that are forthcoming is a welcome development because that is where the opportunity knocks.
React to the news and not anticipate as well as be defensive all the time is the right thing to do.
Expect the market to be choppy, but there is a tendency to rally depending on the sentiment of the participants especially the big institutions.
Be watchful and observant traders...just form your trading ideas with the market movement and get involved...
Also from the Fed or other economic calendar news.
But for traders, any news that are forthcoming is a welcome development because that is where the opportunity knocks.
React to the news and not anticipate as well as be defensive all the time is the right thing to do.
Expect the market to be choppy, but there is a tendency to rally depending on the sentiment of the participants especially the big institutions.
Be watchful and observant traders...just form your trading ideas with the market movement and get involved...
Trading is a process
It takes a lot of time to learn how to become a real trader.
There are no shortcuts. It takes a lot of learning years.
From reading tons of trading and investing books, surfing the net, reading blogs, attending seminars, and sometimes falling prey for some expensive promising subscriptions is the first step.
Other than that, the confusion how you want to be, a trader (ie. John Paulson, Livermore, Baruch, and others) or a Warren Buffet, Peter Lynch style kind of investor.
As a trader, there is what you call the personality traits that needs to be considered.
There are what you call the short term and the long term or the intermediate form of trading.
It depends about how to find your own personality, about who you are (know yourself).
Finding your own personality is the second step to be a trader, other than learning what trading is all about.
Approach trading as a business or a job, not expecting first to make a killing (make money) in the market.
Becoming a trader is like a doctor, an engineer or a lawyer.
Practicing your skills or mastering yourself in your specialized field takes time, patience, commitment, dedication and other self-help determination.
There are no shortcuts. It takes a lot of learning years.
From reading tons of trading and investing books, surfing the net, reading blogs, attending seminars, and sometimes falling prey for some expensive promising subscriptions is the first step.
Other than that, the confusion how you want to be, a trader (ie. John Paulson, Livermore, Baruch, and others) or a Warren Buffet, Peter Lynch style kind of investor.
As a trader, there is what you call the personality traits that needs to be considered.
There are what you call the short term and the long term or the intermediate form of trading.
It depends about how to find your own personality, about who you are (know yourself).
Finding your own personality is the second step to be a trader, other than learning what trading is all about.
Approach trading as a business or a job, not expecting first to make a killing (make money) in the market.
Becoming a trader is like a doctor, an engineer or a lawyer.
Practicing your skills or mastering yourself in your specialized field takes time, patience, commitment, dedication and other self-help determination.
Friday, September 16, 2011
Mr. Market, YM, made a dramatic move before the open, only to make a sell off after an hour or so.
Friday's profit taking is the usual mode of operation, nothing's new with that.
Though Mr. Market is still on a roll since Monday, seems it might loose its momentum come next week as far as my observation looks like.
From this 5-min. chart, I shorted Mr. Market from the top (see the double top), and made a +$250.00 gain from it.
Per technical and pattern observations, double top formation is a signal for the bears.
Also, a long trade is possible after the "W" formation between 10:00 am. and 12:00 noon.
Notice the two long legged doji" candle?...it made a dramatic upside after the pullback.
In trading, observing the market movement is the only way to make a good trade.
See you next Monday fellow traders, have a nice weekend and I hope I was able to help you make $$$...
Friday's profit taking is the usual mode of operation, nothing's new with that.
Though Mr. Market is still on a roll since Monday, seems it might loose its momentum come next week as far as my observation looks like.
From this 5-min. chart, I shorted Mr. Market from the top (see the double top), and made a +$250.00 gain from it.
Per technical and pattern observations, double top formation is a signal for the bears.
Also, a long trade is possible after the "W" formation between 10:00 am. and 12:00 noon.
Notice the two long legged doji" candle?...it made a dramatic upside after the pullback.
In trading, observing the market movement is the only way to make a good trade.
See you next Monday fellow traders, have a nice weekend and I hope I was able to help you make $$$...
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