Here’s my afternoon video. I give an overview of what I think the 3 most important statistics are for a daytrader, and talk more about my beautiful new bead-reading indicator that I’ve been talking about for the last two videos.
My computer never took any more trades since this morning, since it refuses to trade near VWAP, and we were near VWAP for most of the day. I took 5 trades on YM for 5 small wins.
(if you care about the articles I mentioned, they can be mostly found via the Best of MtM page. Maybe the most interesting one is this one, because for whatever reason many traders know nothing about profit factor.)
November 14th, 2007 at 4:54 pm
So is your computer trading and are you trading discretionary at the same time? If so, is there a lot of tension between the two of you for who does better in a day? How do you live with each other after the close? Can a silicon / carbon relationship even really work?
These are the questions the readers of MtM want to know!!
November 14th, 2007 at 5:18 pm
There’s very little tension, as it’s your standard pimp/ho relationship. It works for me all day and then gives me the profits. In return, I give it shelter and don’t let my cats chew up its power cords.
November 14th, 2007 at 6:31 pm
I really like the beads! I think it has a lot of promise. It could probably be refined to the point that you wouldn’t need to look at the candles.
November 14th, 2007 at 10:55 pm
Thanks, Michael. Hopefully it will turn out to be a useful idea. The first 6 trades I tried with it were all winners, so that is nice anyway. And, I should add that they were very “easy” wins, without any significant retrace against me. This is the kind of trade I am used to making on stocks, so I am a little hopeful that I am homing in on my futures niche.
Or maybe I was lucky for a couple days. We’ll see.
November 15th, 2007 at 7:09 pm
Thangs I learnt today… number 1) i can type moveTHEmarkets almost as fast as Richard because I can do THE with one shift, number b) cyan sounds so much different than cayenne that I can’t even begin to blame it on my redneck dialect, and number last) beads are cool; he’s gonna turn us all into hippies
November 15th, 2007 at 11:23 pm
thangs i learned today…#1) prospectus is getting much dirtier in his posts, #) richard has a strong pimp hand, #3) will is the exception to the louisiana educational system - of which i am a poster child, #4) teresa lo is the real trading goddess - KACHING!
November 15th, 2007 at 11:25 pm
btw, i meant to just leave a comment thanking u for linking to the profit factor post…excellent article…will and prospectus made me forget what i was here to do
i think we are rubbing off on prospectus…it won’t be long before he’s posting dirty pics :-)