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While away from the desk I now see there were substantial gains to be made shorting DAX around 3pm (London) but I did not kick myself for missing it as I am half way through a 28 day exercise of quitting the day when goals are clearly achieved before the NY guys get going. The object is not to worry about catching every opportunity and to give our brains a rest.
It is part of a concept described in a book on emotion free trading, and I am finding it extremely helpful.
The same book says go away for the day if you get 3 consecutive losses, and I know that idea has also been mentioned here.
Indeed I am finding the paradox to be true which says "Less is more"
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I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
Nice one, Ray. I'm a huge advocate of going away when the work is done and your goals have been achieved. Where this is difficult and requires the most patience and discipline is in the account growth phase, when your return is less in terms of $£€¥. It gets a lot easier to be happy with your return as your balance grows and your time spent is rewarded with more money.
Cheers,
Dave
Dax. Fairly tight Aims box on m5 in the bars prior to 8am London opening
I set POs either side, got filled on a short (some slippage) but made 25.8 pips in about 5 mins. I might have got out too soon but it was an acceptable win
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
I've finished again for today, I certainly haven't taken every opportunity which would have given many dozens of pips, but 51.5 out of 2 effortless trades were worth taking.
Get your head into that ebook which I attached here last evening again guys, every page is packed with sensible truths, it is certainly helping me.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
I just noticed Dax sliced clean through the 200 day SMA (High+Low/2) today in its heavy selling. Many people will say this signals only just the start of a bearish trend and that it could give up a lot more.
It has certainly lost 6% since its peak which is more than the UK index.
Amazing to think that the way we trade allows us to go short as well as long, which of course is not a possibility open to mutual fund managers (although it is ok for hedge funds and absolute return funds). Someone will say it's people like us (and the hedge funds) who drive the market down faster than long holders of real share certificates going to cash
You do not have the required permissions to view the files attached to this post.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
For all of us who feel only the deepest love and affection for the way computers have enhanced our lives, read on.
At a recent computer expo (COMDEX), Bill Gates reportedly compared the computer industry with the auto industry and stated,
"If Ford had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1,000 miles to the gallon."
In response to Bill's comments, Ford issued a press release stating:
If Ford had developed technology like Microsoft, we would all be driving cars with the following characteristics (and I just love this part):
1. For no reason whatsoever, your car would crash.........twice a day.
2.. Every time they repainted the lines in the road, you would have to buy a new car.
3... Occasionally your car would die on the freeway for no reason. You would have to pull to the side of the road, close all of the windows, shut off the car, restart it, and reopen the windows before you could continue.
For some reason you would simply accept this.
4.... Occasionally, executing a maneuver such as a left turn would cause your car to shut down and refuse to restart, in which case you would have to reinstall the engine.
5..... Macintosh would make a car that was powered by the sun, was reliable, five times as fast and twice as easy to drive - but would run on only five percent of the roads.
6...... The oil, water temperature, and alternator warning lights would all be replaced by a single "This Car Has Performed An Illegal Operation" warning light.
7....... The airbag system would ask, "Are you sure?" before deploying.
8........ Occasionally, for no reason whatsoever, your car would lock you out and refuse to let you in until you simultaneously lifted the door handle, turned the key and grabbed hold of the radio antenna.
9......... Every time a new car was introduced car buyers would have to learn how to drive all over again because none of the controls would operate in the same manner as the old car.
10.......... You'd have to press the "Start" button to turn the engine off.
PS - I'd like to add that when all else fails, you could call "customer service" in some foreign country and be instructed in some foreign language how to fix your car yourself!!!!
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
wiseambitions wrote:For all of us who feel only the deepest love and affection for the way computers have enhanced our lives, read on.
At a recent computer expo (COMDEX), Bill Gates reportedly compared the computer industry with the auto industry and stated,
"If Ford had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1,000 miles to the gallon."
In response to Bill's comments, Ford issued a press release stating:
If Ford had developed technology like Microsoft, we would all be driving cars with the following characteristics (and I just love this part):
1. For no reason whatsoever, your car would crash.........twice a day.
2.. Every time they repainted the lines in the road, you would have to buy a new car.
3... Occasionally your car would die on the freeway for no reason. You would have to pull to the side of the road, close all of the windows, shut off the car, restart it, and reopen the windows before you could continue.
For some reason you would simply accept this.
4.... Occasionally, executing a maneuver such as a left turn would cause your car to shut down and refuse to restart, in which case you would have to reinstall the engine.
5..... Macintosh would make a car that was powered by the sun, was reliable, five times as fast and twice as easy to drive - but would run on only five percent of the roads.
6...... The oil, water temperature, and alternator warning lights would all be replaced by a single "This Car Has Performed An Illegal Operation" warning light.
7....... The airbag system would ask, "Are you sure?" before deploying.
8........ Occasionally, for no reason whatsoever, your car would lock you out and refuse to let you in until you simultaneously lifted the door handle, turned the key and grabbed hold of the radio antenna.
9......... Every time a new car was introduced car buyers would have to learn how to drive all over again because none of the controls would operate in the same manner as the old car.
10.......... You'd have to press the "Start" button to turn the engine off.
PS - I'd like to add that when all else fails, you could call "customer service" in some foreign country and be instructed in some foreign language how to fix your car yourself!!!!
Very nice... but there is a strange thing happening though... all new cars are CONTROLLED by computers ... haha
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
Just a little video about getting the work/home life balance right. Admittedly this guy isn't one like us but he seems to be able to walk away from his trading and enjoy time with the family which is all important
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
