Weekend Non-Reading

It’s the weekend… who’s got energy to read anything? Not me. In fact, you are probably just skmming through this text right now. Well, you’re in luck, because I don’t have the energy to write much. So, here are some market-related videos I’ve run accross this morning.

Live S&P… stuff

In what way would this be useful to listen to during trading? I’ve read about John Carter using pit noise in Mastering the Trade, but I don’t think this is the same thing. It’s some guy yammerring at top speed, while blips and bleeps that remind me of 90’s electronica (or 80’s video games) occassionally blare in the background. Anyway, if you can make something out of it, lemme know! (Warning: the sound is rather loud on this)

I only watched the first 10 minutes, but it seems like this guy’s more of a contrary indicator than anything else. When he gets most excited about sellers seems to be right as the price is about to turn and run up a bit.

A Simple Trading Technique

Essentially, the message is: trade with the long-term trend when the medium-term cycles roll over. It’s very similar in spirit to the “triple screen” technique, where oscillators are used on the middle screen, to know when you want to get in a trade in the direction of the overall long-term trend.

It annoys me that they didn’t really talk about stop losses, except for one mention of an arbitrary .50 stop loss.

Short it… NOW!

This one’s worth watching just to hear his voice get all strained when he finally pulls the trigger on his trade.

If trading doesn’t work out for him, it seems like he’d be a shoe-in to do TV commentary on golf tournaments.

You Call That a Scalp??

Here’s a “scalp” of the S&P e-minis… You know, everyone has a different definition. I believe the rigorously “correct” use of the term is when you enter a trade with hopes of exiting immediately to make the bid-ask spread. I guess decimalisation of the stock markets has made that a much more rare practice. I use the term “scalp” when I want to capture a single thrust of momentum in a direction, and won’t accept any move against me. Here, we have a much more easy-going “scalping” approach with a 3-point stop.

I wish I could stay that calm and easy-going during my scalp trades! Once again I notice that this trader is buying a dip, rather than a breakout. It bothers me sometimes, that by playing breakouts I am getting in once a little bit of a move has already happened. Jumping on a longer trend at turnaround points does make a bit more sense. I need to think some, about when it’s sensible for me to try that kind of approach out.

Here’s another one:

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