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MrPaul

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Posts posted by MrPaul

  2. Posted

    Yeah it's interesting how you have to "Get" to simple. Somewhat of a regression to the mean. You start out learning with time, price and volume in most cases, expand on that with numerous studies, indicators, psychological studies, newsletters, moon projection analysis :p etc. All to discover that you return to "simple" for anything to be consistently successful.

  5. Posted

    With the Nasdaq TICK, since I don't have access to a Russell tick... Yes, it seems to work great. Here's an example from Fridays session. Notice how we hit the S1 3 times, and we had higher lows on the TICK...

     

    Hey Tin

     

    Are you using the nasdaq TRIN with that?

  8. Posted

    since 1953 S&P daily percentages of times market closed higher than previous day (1953- july 2005)

     

    monday 47.2%

    tuesday 51.2%

    wednesday 55.8%

    thursday 52.2%

    friday 56.6%

     

    Also have read recently that most traders are having best results tuesdays and thursdays.

     

    hey protrader,

     

    Do you happen to have access to S&P daily percentages of times market closed Lower than previous day?

    Thanks :cool:

  9. Posted

    I though it might be interesting to hear some of the trading rules traders live by. Im still learning the ropes of trading and one rule I live by is there is no such thing as overbought or oversold! :)

     

    Here are a few I can think of...They may be general, but perhaps the discussion will elaborate if others share the same rules.

     

    Don't gamble

    Don't chase the market

    Have a reason for every trade

    Wait for a pullback

    Always know where you're getting out before you get in

    Always know when your getting out if the trade goes wrong before you get in

    Have a trading plan and trade it

    Learn to love risk

    Never give up or stop learning

     

     

    These are just a few off the top of my head but they all help you do one thing. Preserve your Precious Capital, because without that you won't even have a chance to follow rules.

  11. Posted

    This was copied from another forum, which had copied it from another website...I found it to be a good read.:)

     

    Innerworth today discussed your mood and how it might effect your profits.

     

    Here is a snippet from what they said.

     

    quote:...When you are in an unpleasant mood, you may have a strong need to feel better. How can you feel better? Making money usually makes you feel better...

     

     

     

    The discussion was based around the ability of a trader to hold on to a trade through to the target or stop and not close the trade prematurely. One of the reasons that you may close a trade prematurely is if you're in a bad mood. Why is this? Because taking a small profit will put you in a better mood and everyone wants to feel good.

     

    So think about these two scenarios:

     

    Scenario A

    You wake up and start trading and you're feeling great.

    Your trade is hanging around the 2 point profit mark and your target is 5 points.

    It's okay to sit back and wait for the target to be reached (or the stop to be hit) because you're happy. You do NOT have any desire or need to change your mood because you are already in a happy place.

     

    Scenario B

    You wake up and start trading and you're in a bad mood.

    Your trade is hanging around the 2 point profit mark and your target is 5 points.

    By closing out the trade now you will make some money and you will improve your mood. By waiting for the trade to reach its target will postpone and delay the improvement in your mood. i.e. you will continue to feel unhappy until you have taken profits.

    So not wanting to delay the shift to a better mood you take your profits earlier.

     

    Let's take a look at how the mood can effect your impulse to trade.

     

    Bad Mood

    You're in a bad mood and you want to feel better. (Remember that this is going on in your subconscious and is not an active thought at the front of your mind.)

    If you trade and make money you will feel in a better mood.

    If you trade and lose money you will continue to feel in a bad mood.

    So, in the worse case scenario your mood doesn't change. In the best case scenario your mood will improve.

    So this may cause you to take an impulsive trade. If you trade without a setup then there is a 50/50 chance that the trade will make money. So you have a coin flip to change yourself into a better mood.

    It's your subconscious that's making you do this trade.

     

    Good Mood

    You're in a good mood and you're subconscious therefore has no desire or influence over your actions to change your mood.

    Therefore, your mind can focus on market action and wait for valid set-ups before you enter a trade. There is no need or rush to make an impulsive trade to improve your mood. You're subconscious is not sabotaging your efforts here.

     

    I have heard of a number of traders that have told me that when they are going through stressful times in their lives their trading results have deteriorated. That last case is by no means scientific and actually comes from a bunch of men who went through a divorce. During the divorce their trading results were worse.

     

    Elsewhere on this forum, there is a reference to a Tony Robbins technique that Chameleon gave a trading room recently. He (Chameleon) basically gave a method for making you feel in a better mood. This is obviously not the only method that can make you feel in a better mood and you may have your own or a different one that works better for you. If so, then let us know by posting a reply here.

     

    The trick, though, is to make sure that you're in a good mood before you start trading. As part of your pre-market preparation you should perform this get-me-in-a-good-mood technique to make sure that you are feeling great before the market opens. Even though you may already be in a good mood it doesn't hurt to check. When you go on a long distance trip you check the water and tire pressure even though they are fine 90% of the time. No reason why you should do a pre-market check on your mental state as well.

  12. Posted

    ok, i found it in Sierra Chart. Sierra allows you to add it as a study as a graph. However, I found a pretty cool third-party tool which lets me view it as you do in the videos - listing format as they come in.

     

    now i've just gotta make sense out of it all!

     

    Just our of curiosity which third party program was it? I have been on the lookout for something similar.

  16. Posted

    Excellent article! Thanks, MrPaul. Mentions forex as good candidates for Fisher system but problem is the dang market is 24hrs, where do you start and end the 15min open range?

     

    In the book he mentions it as being the instrument's domicile market.

     

    From pg. 11

     

    "There is one important consideration about the opening range, and that's making sure it's based on the domicile market. What do I mean by that? If your trading natural gas futures, then you know that the domicile market is the New York Mercantile Exchange. That's where the opening bell is established. But if you were trading say, Japanese yen, the the opening of the U.S currency markets wouldn't apply. Rather you would look to the opening of the Japanese markets...."

  18. Posted

    The more I read and analyze the book I am seeing how at least with emini's, the ACD method may be more effective on a longer-term timeframe i.e 3 to 5 days with a 30min chart. Although this is just a preliminary opinion.

  20. Posted

    Hello everyone

     

    I was in the chatroom today (I had a great time by the way) and somebody, I believe was Nasdaq5048 said something about ACD Method of Mark Fisher. I haven't read the book yet but as far as I read and talk to other traders, I see some logic especially on opening range strategy. I am curious.

     

    I would like to see some comments on this method, especially what do you determine as an opening range timeframe for whatever market you're trading.

     

    Regards

     

    Raul

     

    I just bought the book today...I would also like to know if anyone has been able to successfully apply the ACD method

  22. Posted

    Two things changed my life:

     

    1. I designed proven setups and built a trading plan

    2. I took all my indicators off

     

    I would have to say that is exactly what I did also. I actually have my trading plan sitting next to me while I trade. I now only use indicators to look for divergence on daily charts in a swing trade.

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