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.

Work in Progress

Posted 05-14-2008 at 05:53 AM by firewalker (The Truth Lies in The Tape)

Zen and the Art of Poker by Larry W. Phillips
0452281261

High Probability Trading: Take the Steps to Become a Successful Trader (Hardcover)
by Marcel Link
0071381562

Art of Contrary Thinking (Paperback)
by Humphrey B. Neill (Author)
087004110X

Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the New Science of Behavioural Economics (Paperback)
by Gary Belsky (Author)
0684859386...

firewalker

Posted in Reading List

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Techniques of Tape Reading

Posted 05-14-2008 at 05:53 AM by firewalker (The Truth Lies in The Tape)

Before the Internet, onscreen trading, or even television screens, traders followed markets by watching actual trades emerge from ticker tape machines. These tapes revealed where the market had been and which direction it was moving, and allowed traders who understood market movements to concentrate on the realities of the markets, discern their own patterns, and increase their opportunities for winning trades.

Techniques of Tape Reading breaks through all of today's hype, rumors,...

Attached Images

tape.jpg (44.6 KB, 53 views)

firewalker

Posted in Reading List

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Various

Posted 05-14-2008 at 05:51 AM by firewalker (The Truth Lies in The Tape)

Don't judge each day by the harvest you reap, but by the seeds you plant. (Robert Louis Stevenson)

Not everything that counts can be counted....
not everything that can be counted, counts. (Einstein)

"It's not the people who vote that count. It's the people who count the votes."

"The moment we want to believe something, we suddenly see all the arguments for it, and become blind to the arguments against it." - George Bernard...

firewalker

Posted in Quotes

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The Scientific Method

Posted 05-14-2008 at 05:50 AM by firewalker (The Truth Lies in The Tape)

The essential elements of the scientific method are traditionally described as follows:

1. Observe: Observe or read about a phenomenon.

2. Hypothesize: Wonder about your observations, and invent a hypothesis, (sometimes one's hypothesis is initially nothing more than a "guess"), which could explain the phenomenon or set of facts that you have observed.

3. Test a hypothesis

4. Predict: Use the logical consequences of your hypothesis...

firewalker

Posted in Theory

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The Process

Posted 05-14-2008 at 05:50 AM by firewalker (The Truth Lies in The Tape)

Before you start out, you need to:
1. determine what you want out of trading: trade for hobby, a living,...
2. determine a suitable timeframe for your style (can you sit on your hands for 4 hours doing nothing but watching the tape?)
3. determine your long and short time goals (small consistent profits are large gains accompanied with equally large drawdowns?)
4. analyze yourself (SWOT analysis)

Next you need to know what kind of trading suits you best...

firewalker

Posted in Theory

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