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MightyOne
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Postby MightyOne » Mon Mar 01, 2010 5:30 am

tmanbone wrote:MO it's obvious you're a natural, besides that fact how much time on average do you spend educating yourself on trading, say per day, per week? An estimate? In following your post here at Kreslik I've come to the conclusion that you are trying to get us to see the even ebb and flow, amongst, the smaller time frame, volatilty in the markets. I would also like to know your recommended reading list. Thank you sir for your time and contributions.

T


My life is trading tmanbone :lol:

I do not allocate time for trading I allocate time for living.

Trading is all about a price:

Momentum carries the price through "a price" and upon retracing beyond "a price" you place your trades in expectation that price will close lower than the line in a single period of time.

If it closes lower you hedge (get flat) only when a correction is imminent.

If you fight for long term position then long term position will fight for you.


As far as reading material I read books on:

NL Texas Hold'em (develop your psychology, problem solving, and overcome fear)

How to Brew by John J. Palmer (beer is the lifeblood of creativity and it can be made in your backyard for $0.25-$0.70 a bottle ;))

Market Wizards (turning a deaf ear to legendary traders is never a good idea)

TA books are a waste of time and money.

Books on psychology never hurt, but I wouldn't spend a lot of my time here.

I wish that I knew of a good book on fundamental analysis for currencies.

A Price Chart (the best book on trading hands down :lol:)

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tmanbone
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Postby tmanbone » Mon Mar 01, 2010 10:31 am

MightyOne wrote:
tmanbone wrote:MO it's obvious you're a natural, besides that fact how much time on average do you spend educating yourself on trading, say per day, per week? An estimate? In following your post here at Kreslik I've come to the conclusion that you are trying to get us to see the even ebb and flow, amongst, the smaller time frame, volatilty in the markets. I would also like to know your recommended reading list. Thank you sir for your time and contributions.

T


My life is trading tmanbone :lol:

I do not allocate time for trading I allocate time for living.

Trading is all about a price:

Momentum carries the price through "a price" and upon retracing beyond "a price" you place your trades in expectation that price will close lower than the line in a single period of time.

If it closes lower you hedge (get flat) only when a correction is imminent.

If you fight for long term position then long term position will fight for you.


As far as reading material I read books on:

NL Texas Hold'em (develop your psychology, problem solving, and overcome fear)

How to Brew by John J. Palmer (beer is the lifeblood of creativity and it can be made in your backyard for $0.25-$0.70 a bottle ;))

Market Wizards (turning a deaf ear to legendary traders is never a good idea)

TA books are a waste of time and money.

Books on psychology never hurt, but I wouldn't spend a lot of my time here.

I wish that I knew of a good book on fundamental analysis for currencies.

A Price Chart (the best book on trading hands down :lol:)


Thanks for the clarification, you've helped me solidify some thoughts.
Good day,

T
"The simplicity of the markets is it's greatest disguise"

T

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Patch
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Postby Patch » Mon Mar 01, 2010 10:38 am

MO

Is the "Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader (Wiley Trading)" the book you refer to at the end of your last post? If not, who is the author? Also of equal importance, what is your favorite brew kit? I got my son a brew kit for Christmas. He is on his second brew now.

Patch
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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vane
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Postby vane » Mon Mar 01, 2010 10:54 am

A Price Chart (the best book on trading hands down)



I'm reading that e-book right now :lol:

PS. Small charts vs Large charts ( i like the big girl ;P ) lol

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gfg1
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Postby gfg1 » Mon Mar 01, 2010 11:18 am

vane wrote:
A Price Chart (the best book on trading hands down)



I'm reading that e-book right now :lol:

PS. Small charts vs Large charts ( i like the big girl ;P ) lol


Hi Vanesa, can you tell me where you got the book? TIA

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Postby bakaender » Mon Mar 01, 2010 11:44 am

I sure hope someone was short on the GBP/USD. I've never seen it drop that fast before.... 180 points in 5 minutes :shock:

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Postby aliassmith » Mon Mar 01, 2010 1:50 pm

MightyOne wrote:SMALL CHARTS:

Image

LARGE CHARTS:

Image


That is a great analogy!
Trade Your Way as Long as It Makes Money!

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Postby Fxtraveller » Mon Mar 01, 2010 3:29 pm

Getting my confidence back.

Mighty, how's the analysis? Bodies show the way, wicks in direction of loss, candles failing to close above resistance.
cheers.
FxT
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MightyOne
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Postby MightyOne » Mon Mar 01, 2010 6:06 pm

Patch wrote:MO

Is the "Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader (Wiley Trading)" the book you refer to at the end of your last post? If not, who is the author? Also of equal importance, what is your favorite brew kit? I got my son a brew kit for Christmas. He is on his second brew now.

Patch


That was a joke, I meant an actual price chart not a book.

I go to brew-parties where we all make beer from scratch...ok, we con someone into doing all the grinding and stirring while we sit around and drink beer :lol:

There are also local breweries with old 30 gallon tanks that teach you how to make beer for a small fee.

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Patch
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Postby Patch » Mon Mar 01, 2010 6:41 pm

MO

Boy I bit that book off hook, line & sinker. And that must be what makes me a yalie for the moment.

Just found out my son is coming out Thursday and he is going to bring me a bottle of his first and second brew just bottled last night. I've never done a brew from scratch.

I've been working on the BZ using the 1 - 2 - or - 3 Semafor to determine direction of taking trades.

MO do you run any EA auto trade strategies? What are your thoughts on the subject?

Patch
In the Chartroom
In VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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