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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.
Old

Five Guiding Principles (Steenbarger)

Posted 05-14-2008 at 08:35 AM by firewalker (The Truth Lies in The Tape)
Updated 05-16-2008 at 05:09 AM by firewalker
Principle #1: Trading is a performance activity

Principle #2: Success in trading is a function of talents and skills

Principle #3: The core skill of trading is pattern recognition

Principle #4: Much pattern recognition is based on implicit learning

Principle #5: Emotional, cognitive, and physical factors disrupt access to patterns we have acquired implicitly
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Old

Self-evaluation Checklist (Steenbarger)

Posted 05-14-2008 at 08:34 AM by firewalker (The Truth Lies in The Tape)
Updated 05-16-2008 at 05:09 AM by firewalker
1) What is the quality of your self-talk while trading? Is it angry and frustrated; negative and defeated? How much of your self-talk is market strategy focused, and how much is self-focused? Is your self-talk constructive, and would you want others to be talking with you that way while you’re trading?

2) What work do you do on yourself and your trading while the market is closed? Do you actively identify what you’re doing right and wrong in your trading each day—with specific steps...
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38 Steps in becoming a successful trader (Douglas)

Posted 05-14-2008 at 08:34 AM by firewalker (The Truth Lies in The Tape)
Updated 05-16-2008 at 05:10 AM by firewalker
1. We accumulate information--buying books, going to seminars and researching.
2. We begin to trade with our "new" knowledge.
3. We consistently "donate" and then realize we may need more knowledge or information.
4. We accumulate more information.
5. We switch the commodities we are currently following.
6. We go back into the market and trade with our "updated" knowledge.
7. We get "beat up" again and begin to lose...
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The Three Stages of Trading (Douglas)

Posted 05-14-2008 at 08:34 AM by firewalker (The Truth Lies in The Tape)
The mechanical stage
1. Build the self-trust necessary to operate in an unlimited environment.
2. Learn to flawlessly execute a trading system.
3. Train your mind to think in probabilities (the five fundamental truths).
4. Create a strong, unshakable belief in your consistency as a trader.

The subjective stage
1. Use anything you have ever learned about the nature of the market movement to do whatever it is you want to do.
2. Learn how to...
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The Seven Principles of Consistency (Douglas)

Posted 05-14-2008 at 08:33 AM by firewalker (The Truth Lies in The Tape)
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.
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