http://www.traderinterviews.com/idealab/ 'The latest Ideas and Comments from the TraderInterviews.com IdeaLab' Mon, 15 Feb 2010 14:48:35 -0800 en-us Copyright TNC New Media Inc., 2006 - 2010 http://www.traderinterviews.com/images/traderinterviews_144x19.gif http://www.traderinterviews.com/idealab 144 16 http://www.traderinterviews.com/idealab/idea/view/when-to-take-a-profit-early#c140 http://www.traderinterviews.com/idealab/idea/view/when-to-take-a-profit-early#c140 Mon, 15 Feb 2010 14:48:35 -0800 http://www.traderinterviews.com/idealab/idea/view/when-to-take-a-profit-early#c139 http://www.traderinterviews.com/idealab/idea/view/when-to-take-a-profit-early#c139 Mon, 15 Feb 2010 14:35:49 -0800 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c138
http://investorandtrader.blogspot.com/

Not a lot in the way of "signals", but I'm finding that those who 'offer signals' - usually are newbies themselves]]> http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c138 Sun, 27 Sep 2009 10:33:14 -0700 http://www.traderinterviews.com/idealab/idea/view/day-trading-for-a-living#c137 You may be able to skew the odds slightly in you favor by learning to accurately read price action, but for the most part you are seeking the impossible, especially if those fast moves are created by moments of irrationality or program trading.
Of the truly successful traders I know, If I were to ask them which way price is going, they would all reply, "I have no idea".]]> http://www.traderinterviews.com/idealab/idea/view/day-trading-for-a-living#c137 Fri, 04 Sep 2009 23:23:18 -0700 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c136
There is commentary about the true struggle a trader goes through. No silly indicators or fluff and no hindsight analysis.

http://brianhoffmantradinglog.blogspot.com/]]> http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c136 Wed, 02 Sep 2009 00:23:26 -0700 http://www.traderinterviews.com/idealab/idea/view/trading-and-probabilities#c135 Conversely, The worst thing that a poker player can do is regret folding a mediocre hand that "would have won". Most will ignore the fact that this hand loses the majority of the time and focus only on that one time that it would have won big. They then begin to play that hand & lose all their chips. Trading is no different. People tend to tunnel-vision on the winning trades and ignore the losers. This is the greatest asset of the endless peddlers of systems and courses. They know that they can produce a chart and point out the trades where their system would have made you rich. There can be multiple losers on that very same chart and few people will notice. (Or subconsciously chose not to notice is more likely).
I recommend becoming a good poker player if you want to be a better trader.]]> http://www.traderinterviews.com/idealab/idea/view/trading-and-probabilities#c135 Sat, 29 Aug 2009 15:30:38 -0700 http://www.traderinterviews.com/idealab/idea/view/the-mental-edge-part-1-focus-on-the-trade-not-the-money#c134 It wasn't until I decided that I needed a "bread and butter" setup that I found some peace.]]> http://www.traderinterviews.com/idealab/idea/view/the-mental-edge-part-1-focus-on-the-trade-not-the-money#c134 Sat, 29 Aug 2009 15:06:13 -0700 http://www.traderinterviews.com/idealab/idea/view/be-a-student-of-yourself#c133 http://www.traderinterviews.com/idealab/idea/view/be-a-student-of-yourself#c133 Sat, 29 Aug 2009 14:52:02 -0700 http://www.traderinterviews.com/idealab/idea/view/trading-to-survive#c132 http://www.traderinterviews.com/idealab/idea/view/trading-to-survive#c132 Sun, 23 Aug 2009 01:42:01 -0700 http://www.traderinterviews.com/idealab/idea/view/when-to-take-a-profit-early#c131
If you're looking for something mechanical, there are several indicators that work great for stops. SAR is a good one as it tightens up your stop the longer your trade runs. Trailing stops using multiples of ATR is a very popular method. Fibo levels or pivots are powerful exit targets. I will usually exit all or part of a position when price stalls at a trendline or S&R;.

For something discretionary, You'll just have to use the same methods you use for entering. One thing I've used is to ask myself, "Would I enter a trade in the opposite direction?". If yes, I exit my existing position. Scaling out is an excellent way to relieve some of the stress you are experiencing. Most traders I know of who are trading any real volume, scale in and out of their positions. Unless there is a strong reversal signal, it can be wise to let a small portion of your positions run after moving your stop loss to break even or even locking in a profit. On a strong tend day, I've made more profit from that small portion I let run rather than all my scalps combined.]]> http://www.traderinterviews.com/idealab/idea/view/when-to-take-a-profit-early#c131 Sun, 23 Aug 2009 01:27:07 -0700 http://www.traderinterviews.com/idealab/idea/view/tick-chart-for-forex-day-trading#c130
I'd be interested to try that charting out as, right now, I'm having to watch the bid and ask to gauge entries and exits as a min bar hides too much price action for the intended targets to be worth shooting for.]]> http://www.traderinterviews.com/idealab/idea/view/tick-chart-for-forex-day-trading#c130 Wed, 17 Jun 2009 16:05:27 -0700 http://www.traderinterviews.com/idealab/idea/view/should-i-ask-interviewees-how-much-money-they-make#c129 http://www.traderinterviews.com/idealab/idea/view/should-i-ask-interviewees-how-much-money-they-make#c129 Sun, 14 Jun 2009 14:25:47 -0700 http://www.traderinterviews.com/idealab/idea/view/has-the-forex-market-ever-heard-of-supply-and-demand#c128 1. So which 'side' of supply & Demand do you use in stocks? and how? Can you draw a 'diagram' of how it all works? or are you just using the 'chart based' lines? Do you know what a supply 'chain' looks like, hence, how to anticipate/lead supply and demand?
2. If you KNOW supply chain and how it affects stock trading, (I mean REALLY, not just the canned lines they give you) THEN you will find it in Forex. It is called the world economic conditions and happenings. They feed the 'world' currency market the same way that 'events' and conditions feed a company's supply chain.
3. If you really want to get that edge, which is how the 'big and consistent winners' sustain success, we can help you learn it. If you just want a new 'line' or indicator to see, we'll have to suggest waste your money somewhere else.
4. So, when you traded stocks: were you overall successful and sustainable for over 18 months?
5. So, the respondents, same question for them.

Any and all of the markets, throughout the world, operate on supply and demand; supply chain. When you really want to get with and win with the big guys, that's where your studies go...not to the technical 'indicators. Without knowing where things are headed and why, you'll never know which indicator to pick. There is rhyme and reason, but you have to really study and work to find it.

Sorry to butt in, but have much knowledge, background, success and effort into helping y'all find solutions, not scams.
Shar]]> http://www.traderinterviews.com/idealab/idea/view/has-the-forex-market-ever-heard-of-supply-and-demand#c128 Tue, 26 May 2009 23:55:40 -0700 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c127 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c127 Sun, 24 May 2009 12:03:33 -0700 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c126
Market Commentary: http://www.blog.fallondpicks.com
Markets covering Ireland/UK/US: http://www.zignalsblog.blogspot.com

Thanks,
Declan
**shameless plug**]]> http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c126 Fri, 22 May 2009 12:53:10 -0700 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c125
Here is another blog you might want to have a look at..

The Daily Trading Report

We focus on identifying the themes & trends in the bonds, currencies, equities and commodity markets.]]> http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c125 Fri, 22 May 2009 02:28:55 -0700 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c124


http://www.davidbuffalo.com/

and

http://Misstrade.wordpress.com



But then again, that would have been 12.
]]> http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading#c124 Thu, 21 May 2009 22:30:33 -0700 http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading
But for now, here are a few traders whom I read each day. These are not in any particular order (even though they are numbered). Like everything else, what you're looking for is the "one takeaway" you use in your own trading.  And these traders have some great thoughts in nearly every post that can help you make better trading decisions.

Have I missed any?  Be sure to post your favorite blogs in the comments below.

1) Don Miller's Trading Journal (http://donmillerjournal.blogspot.com/)
Reading Don's daily posts is like watching, in real-time, the evolution of a highly successful trader.  Don not only talks about his great trades, but also discusses the days he feels he did badly and why he thinks he wasn't on top of his game.  Part philosopher and part CEO of his own trading account, Don's frank talk about his ability to make his living in the markets is a daily treat.

2) Trade the Picture (http://www.tradethepicture.com)
Mr. Volatility, as he calls himself, is a mix of broad market commentary and more short-term trading information. A recent insightful post on the VIX caught my attention and I've been reading through the archives this past week.

3) Corey Rosenbloom's Afraid to Trade (http://blog.afraidtotrade.com/)
Talk about nuts and bolts!  Each day Corey discusses his thoughts on the markets and shows details on the charts he is watching.  He also does a great job of combining big picture charts and short-term charts to show readers why he thinks the markets are headed in a certain direction.  Don't let his "youthful" appearance fool you! Great stuff.

4) Brett Steenbarger's TraderFeed (http://traderfeed.blogspot.com/)
Brett's primary emphasis is on trader psychology, but his blog offers so much more. Brett offers real-world examples of trading strategies and chart-reading tips that anyone can use to get a better feel for market momentum and price action.

5) Moaxian (http://maoxian.com/)
I feel like I'm walking into a terrific Chinese restaurant when I enter this blog - you know you're about to have a great experience even if you don't always understand the language.  The consistency and quality of the Moaxian posts are fantastic and offer tremendous detail on trading opportunities.  Sometimes I find myself having to read a post again to make sure I understand the lesson, but it's always worth the extra time.

6) Alan Farley's Hard Right Edge (http://hardrightedge.com/daily/)
I've known Alan for many years and he is the real deal. Back when I was just getting started in trading in 1997, Alan came and spoke to my small trading group and had everyone riveted for several hours.  His book is one of the best out there for traders and his daily market postings are chock full of trading ideas for the day.

7) Trader Mike (http://www.tradermike.net)
Trader Mike has alerted me to a few trades in the past month that if I hadn't been reading his stuff would have passed me right by.  His archives go back to 2003, making him one of the veterans of trading blogs.  His market recaps are great because, unlike some sites that just tell you what happened, Mike goes into the charts and offers an explanation of why it happened and what may happen next.

8) Dave Mabe's StockTickr (http://blog.stocktickr.com/)
While Dave doesn't post that often (c'mon Dave we want more!), Dave's posts are insightful and relevant for any short-term trader.  He also features text interviews with other traders who discuss their trading styles.  The great thing about Dave's blog is that he links to a lot of other resources in his posts, alerting you to other websites and services you may not know exist.

9) Traderam (http://traderam.blogspot.com/)
I'm not sure if this is Trader AM or Trade Ram.  What I do know is that this trader features some great candlestick charts and shows you exactly what he's looking at on a daily basis.  If you're looking to improve your candlestick chart reading skills, follow along and see how this trader reads them and profits.

10) Wall St. Warrior (http://traderjamie.blogspot.com/)
Jamie and Jim, the two trader/contributors to this blog, do an excellent job of highlighting trading opportunities from a technical perspective. Trendlines seem to be their main focus, and a mix of overall market charts with technical reads on individual stocks and ETFs. A terrific place to find trading ideas if you're coming up blank.

I'm sure I missed some great ones - post your recommendations in the comments!]]> http://www.traderinterviews.com/idealab/idea/view/10-trading-blogs-every-trader-should-be-reading Thu, 21 May 2009 19:43:19 -0700 http://www.traderinterviews.com/idealab/idea/view/day-trading-for-a-living Metastock Pro: one minute line charts, in a semilog scale, the one minute IMI, Inertia and RVI indicators, with Standard Deviation channels and, Fibonacci retracement lines to get an idea of the magnitude of the movement in a direction during the day, and trade with Tradient Pro, use that for all the numeric information and some graphic information. Of course I have the neccesary and adecuate comunication, although when I started, Colombia did not have very much in this respect. I never remain invested from one day to the next.

Before going into more detail about the trading methodology, this year I've had a lot of trouble anticipating moves. The market is making many short fast moves in one direction and changing direction just as fast. I know that the indicators that most traders use are for longer term trading, probably mostly for trend trading. I would like to exchange ideas with other day traders.]]> http://www.traderinterviews.com/idealab/idea/view/day-trading-for-a-living Wed, 06 May 2009 10:34:12 -0700 http://www.traderinterviews.com/idealab/idea/view/macd-histogram-with-support-and-resistance#c123 http://www.traderinterviews.com/idealab/idea/view/macd-histogram-with-support-and-resistance#c123 Mon, 20 Apr 2009 04:22:09 -0700