tot for the day: riding the wave ... but nope .. not elliott's wave (03 aug 2013)

If we consider markets as an ocean of information, trading consists in finding a small but meaningful  and recurrent wave (or better, many waves) out of this ocean and to ride it until it changes direction. Spotting the wave is only half of the game, building an algorithm to ride it is the other half.

http://mathtrading.wordpress.com/2013/01/03/defining-a-market-vs-characterizing-a-market/

tot for the day: The One Thing That Makes All The Difference For Trading Profitably (03 aug 2013)

 “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” -George Soros 

http://newtraderu.com/?p=4372

tot for the day: Charts Are Never Bullish Or Bearish – People Are (02 aug 2013)

Statements of the form "the chart of XYZ is bullish (or bearish) because of this one indicator or that one indicator or that trendline over there or that nice pattern forming" show a remarkable – but also naive –  attempt by the part of those who make them to turn post hoc analysis into forecasting. In most cases, the decision as to whether the chart is bullish or bearish is not even related to the state of indicators or any chart patterns but to the cognitive bias of the analyst.

http://www.istockanalyst.com/finance/story/6488242/charts-are-never-bullish-or-bearish-people-are

tot for the day (31 jul 2013)

volume is not important

- daryl guppy as declared on cnbc, 31 jul 2013

tot for the day (28 jul 2013)

There are a few common traits for the winning traders I have seen and read about.

1. Almost all the winning traders are not egomaniacs they are flexible to what is happening with price action.

2. They are very good students of the markets and understand historical price action.

3. They focus like a laser on their specific methodology and are experts at it.

4. They believe in what they are doing with an almost religious fervor, they KNOW that what they are doing works.

5. They have nothing to prove to anyone they just trade their method.

6. They are life long learners always trying to improve and grow.

7. They have rules they follow.

8. They only trade a predetermined watch list.

9. The winning traders always remove the risk of ruin with stop losses and position sizing.

10. They don’t fight the market when wrong, they cut their losses and move on to their next trade.

    
    
    http://newtraderu.com/?p=4301

tot for the day (27 jul 2013)

You don’t need a crystal ball to do well as a trader. 

You can ignore the endless deluge of pointless shit most traders pay attention to.

You don’t need certainty — ever. Probability alone can keep you in clover.

http://www.mercenarytrader.com/2013/07/positive-expectation-scenario-gaming-and-moving-beyond-certainty/

tot for the day: only the moment (23 jun 2013)

“There is surely nothing other than the single purpose of the present moment. A man's whole life is a succession of moment after moment. There will be nothing else to do, and nothing else to pursue. Live being true to the single purpose of the moment.” 

― Yamamoto Tsunetomo, Hagakure: The Book of the Samurai

tot for the day: from Hagakure (15 jun 2013)

If you are caught unprepared by a sudden rainstorm, you should not run foolishly down the road or hide under the eves of houses. You are going to get soaked either way. Accept that from the beginning and go on your way. This way you will not be distressed by a little rain. Apply this lesson to everything.

Hagakure: The Book of the Samurai by Yamamoto Tsunetomo

tot for the day (20 mar 2013)