Traders Laboratory Forums - The Truth Lies in The Tape

The purpose of this blog is to provide a comprehensive compilation of articles and posts which have been of great help to me in the past, or that I find very insightful, wise or containing a great deal of useful knowledge.

The original author of the text will be mentioned, so that those who are interested in the subject can explore it deeper.

The blog will consist out of several categories, some more theoretical, other containing charts and analysis.

Finally, this blog is, in a way, a continuation of the journal
I started in the public section on another site.

Knowing when to quit

Posted 04-03-2009 at 04:55 AM by firewalker (The Truth Lies in The Tape)

There are still some issues with my trading that I am unhappy about. Especially when the market does not move nicely or chops around, I lose more money than I should.

I need to remind myself that there will be bad days and good days, and in the bad days damage limitation is sometimes the best one can do. Staying out and perhaps not taking a trade is not necessarily a bad thing neither. Right now, I'm struggling with that mindset. The pressure to make money consistently each day,...

firewalker

Posted in Trading Psychology

Views 1081 Comments 0 firewalker is offline

Focusing on the trade instead of the P/L

Posted 02-20-2009 at 05:58 AM by firewalker (The Truth Lies in The Tape)

This article describes a problem I'm often experiencing by focusing too much on the P/L rather then on the trade itself. For example: letting yourself be influenced by a previous loss by trading more prudently or letting yourself become overconfident after having a series of winning trades.

http://traderfeed.blogspot.com/2009/...ing-plans.html

Steenbarger put it poignantly:
"Performance anxiety occurs whenever our concerns over the...

firewalker

Posted in Trading Psychology

Views 962 Comments 0 firewalker is offline

DOW breaks November lows

Posted 02-20-2009 at 05:48 AM by firewalker (The Truth Lies in The Tape)

And some references to the DOW Theory:

http://www.marketwatch.com/news/story/dow-theorists-spot-bear/story.aspx?guid={EB1BC175-7418-4628-97B5-8E510BC45AFA}&dist=TNMost Read

NQ is showing the strongest market out there so far...

firewalker

Posted in The Big Picture (2008-...)

Views 851 Comments 0 firewalker is offline

Tick chart (2009-01-15)

Posted 01-16-2009 at 08:54 AM by firewalker (The Truth Lies in The Tape)

What I found most interesting about following a (single) tick chart, is the flow of buyers and sellers, and how reversals often occur when price pauses (consolidates) for a while. Even on this microscopic timeframe, you can clearly see how a congestion early in the day provides resistance later on. There are no trades on this chart, just lines to show momentum and potential S/R.

...

Attached Images

nq_tick_chart.GIF (20.6 KB, 812 views)

firewalker

Posted in Dailies (2008-...)

Views 1193 Comments 0 firewalker is offline

End of the year picture

Posted 01-02-2009 at 09:42 AM by firewalker (The Truth Lies in The Tape)

The DOW Industrials, the S&P and the Nasdaq-100

Pictures of the whole year:

...

Attached Images

	YM_200812.gif (19.3 KB, 730 views)
	YM_200812a.GIF (73.5 KB, 106 views)
	ES_200812.gif (19.3 KB, 714 views)
	ES_200812a.GIF (62.5 KB, 106 views)
	NQ_200812.gif (18.9 KB, 717 views)
	NQ_200812a.GIF (84.9 KB, 114 views)