Wednesday, February 15, 2006
lessons
1. When you get large ticks (+- 600) that are against your trade I will be getting out sooner and not waiting to hit stops.
2. exit or pp and move stop at +- 1000 ticks
3. maybe add Put call back to chart?
4. Direction of Trin more important than number except at extremes. Extremes are 2 and .5. Extremes are often places for reversals. If you close at the extremes then look for reversals the next day. If not then the market is really in trouble.
5. Maybe add sector list on another page?
6. Concentrate on Banks, Brokers and Semis on sector list
7. We have to learn to read market internals!!! This is the most key thing in trading.....
8. We need to find a way to practice this... I'm open to ideas here. I'm thinking of changing my screens around and putting all my indicators on one page and all price charts on another? Just a thought. Just like radar screen? Thoughts???
9. We get paid to Manage Risk and Recognize Patterns. Put stops on first and then manage trade and targets. Risk first, profit next. Just like a business. This is a business!
Trader X
2. exit or pp and move stop at +- 1000 ticks
3. maybe add Put call back to chart?
4. Direction of Trin more important than number except at extremes. Extremes are 2 and .5. Extremes are often places for reversals. If you close at the extremes then look for reversals the next day. If not then the market is really in trouble.
5. Maybe add sector list on another page?
6. Concentrate on Banks, Brokers and Semis on sector list
7. We have to learn to read market internals!!! This is the most key thing in trading.....
8. We need to find a way to practice this... I'm open to ideas here. I'm thinking of changing my screens around and putting all my indicators on one page and all price charts on another? Just a thought. Just like radar screen? Thoughts???
9. We get paid to Manage Risk and Recognize Patterns. Put stops on first and then manage trade and targets. Risk first, profit next. Just like a business. This is a business!
Trader X
