This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I’m really excited. After the close today, Maria Bartiromo interviewed me, and it should be aired tomorrow. For those of you who don’t watch the network, I’ll give you a brief synopsis.

Maria: Good afternoon Mr. White

MWF: Uhhh, that’s Mr. White Folks

Maria: Is this a joke?

MWF: No!

Maria to her staff: What is this? Some kind of racist?

MWF: I was told you were a big fan of MtM, so I thought you would already know why I chose that name.

Maria: I’m actually a fan of Richard, but he was getting another swedish massage. My staff told me that you were on a good run, so we thought you could fill in.

MWF: No harm done. So where exactly are we headed in this interview?

Maria: What do you expect over the intermediate term in the Nasdaq?

MWF: I dunno.

Maria: Then how exactly do you trade?

MWF: I guess my bread and butter is the Trader Vic 2B, and then I wait for the two red dots.

Maria: Is this a joke?

MWF: Seriously Maria, today I took a whole 10 points out of the NQ with an average contract size of 1.

Maria: Btw, Mr. White Folks, its 80 degrees in Florida, and you’re wearing a fur coat. What’s that about?

MWF: Its all part of the image. Then I smile - displaying my gold tooth with the $ made out of diamonds.

Maria: Ok, that’s it. You guys booked some Internet geek who probably lives in his parents basement, and works the drive-thru at McDonalds, and he’s on my show giving market analysis.

MWF: Actually Maria, the person you speak of is NO EQUITY. He’s a frequent commenter at DT’s site.

Maria: DT is hot!

MWF: Huh?

Maria: I love the way he’s always talking bad about me. These guys around here kiss my ass. They see these ugly women all around, and they treat me like some sort of beauty queen. Bunch of pussies. Dylan Ratigan is the only on air personality who treats me like the BLEEP I am.

MWF: I’ve never seen this side of you, and I’m kind of getting turned on. I like that dirty talk. Call yourself a BLEEP again.

Maria: That’s it. This interview is over. Can we get some perma bull/bear on tomorrow to fill this time slot.

MWF: Thanks for having me on the Cock N‘ Balls Channel, you bunch of tools.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

5 trades for 5 wins, but not as much profit as you might imagine. Oh well, it was another pretty easy day… none of those “oh-my-god-i-will-surely-be-stopped-out” trades that are so nerve-wracking. That Market Sync filter I’m trying out kept me out of the nicer moves today, and frankly after noon I got a little distracted and missed a couple entries that I could have taken.

I still love those Renko charts, they performed amazing again today.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I reached my daily goal in 3 trades, and approximately 10 total minutes in the market. 3 wins, 0 losses. Damn, if this keeps up, I’ll change my name to Richard.

Maybe, I should schedule a massage. If that’s the key, its much better than body waxes!

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

There are two are three big parades in Tampa every year. Women normally flash themselves for worthless beads. I wonder what they would do for my beads, much less Richard’s. These aren’t useless by any means.

I mentioned the Elder’s Force Index last week, but when I tried to use it yesterday, the histogram would reset itself to zero unless I refreshed the chart manually. So, I obviously couldn’t trade. However, I noticed that the beads I had set up did trigger in the same place most of the time. Last night I decided to put up a MACD histogram to spot the divergences, and use it along with the two bead indicators for entry and exit.

The 1st signal I had was a short signal pre-market. I didn’t take it, but it was golden. As you can see on this chart, there was a divergence between price and the MACD which alerted me to a possible trade. I marked the MACD buy signal, and the subsequent EFI buy signal. I went long on that candle with a stop below the low of day (the same candle). I exited for a quick 4.50 points. You can either wait on either sell signal to pop up, or take profits at some pre-dertmined level.

When the MACD buy signal, and EFI buy signal both trigger (same for sell setups), it seems like a good precursor to a quick momentum move. Some are larger than others.

Btw, both signals are using weighted moving averages for a faster reaction time. I may make another live trade in the afternoon, but I will probably paper trade in the interim. I still have to make sure that I’m getting the right bead readings with the EFI. It makes no sense to me that they can be right while the EFI indicator itself won’t draw itself correctly in real-time without manually refreshing.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

• ChartHub.com | global financial market / chart posting, education, collaboration
  We provide traders a means to quickly, efficiently, and easily share their charts.
  (tags: trading charts collaboration)

Nice and easy, 3 trades for 3 wins in the first hour. Then quit early to head out for a swedish massage.

Life is good.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I’m pleased to announce this year’s winner of the coveted Trading Pimp Award - Teresa Lo. She narrowly edged out Babak and Richard with the judging committee.

The criteria, for this year’s selection, boiled down to one thing. Which ideas from the blogosphere, and Internet, contributed to the bottom line of Mr. White Folks! In other words, who is responsible for putting the most cheddar in the trading account of an up and coming Trading Pimp?

Babak’s market calls have been good, but since my time frame is so short, it doesn’t necessarily translate into mo’ money fo’ me. Although, I must say that Richard’s ideas are currently helping. I’m just not sure if they would be as effective if I hadn’t taken the UTC. Hopefully, next year my game will be strong enough to allow me to give out gifts of the Ultimate Trading Course.

Last year, Ugly and Trader-X both received a $100 cash prize, so they could purchase their own customized pimp cup. The more I thought about that, I couldn’t bring myself to do it again. I’m sure she already sports her own engraved Chalice.

This year I was inspired by Prospectus to polish the brass on a sinking ship. Honestly, the fix was in. The award would be given to anyone who actually asked for it. The only two that stepped up to the plate were Prospectus (the people’s choice) and Eric from Tacoma. Both of these traders will receive a one year’s subscription TASC. I am also notifying Richard that he too will receive the one year sub. He was so close, and once again he didn’t quite make it. However, I have it on good authority that Richard has a strong pimp hand, so I’m sure he’ll get over it. Hopefully, he wins the award before his book comes out.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I like this idea, and think it could actually be something that catches on.

Here are the rules:

1) You must have a blogger or gmail.com account.
2) You will be added as a contributor.
3) You must have at least 1 post every month on something that’s trading related. It doesn’t matter if it is statistical based, trade based, psychology based or money management based.
4) You must keep non-trading related strong views to a minimum so as not to offend anyone. However, it’s important that you not be a tight ass either.
5) You will have to be politically correct. Now one should have to police the blog.
6) You cannot be secretive and must be willing to share. This will be a collobrative effort all around.
7) You will not be allowed to post anything from the private blog to any other public blog. If I’m asking people to not be secretive, they should know that their secrets are not being posted all around the world by mighty GOOG.

Anyway, this will be a collaborative effort and we must be absolutely willing to help each other. So if you agree to the above rules, please send me an email at lloydphilip at hotmail .com (all one word). Subject of the email should be “Add me as a contributor”. Keep the subject specific so that I know what to look for if your email turns up in spam folder. I will make the blog private on Friday along with the first post. I’m really geeked up about this concept.

Rules four, five, and six leave me out. I will continue to express strong views, an abundance of drivel, most of which is far from being politically correct. If anything, I will remain secretive about certain things to keep an edge over lesser traders. However, in all seriousness, I think this is the real future of trading blogs. Like-minded traders, collaborating with each other, should make them a powerful force.

I wish them luck, but I doubt they will need it. (H/T Will)

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Noun

Wikipedia has an article on:
Apology

apology (plural apologies)
What you say when you regret saying or doing something affecting others.
A formal justification, defence.

Trading is a very personal, and often lonely journey. Besides your immediate family, who will be affected by your decisions, you owe nobody else an apology. Does your bad trading really affect me? If it did, the answer is quite simple. I would quit reading your posts.

Courage may be one of the most important factors for success. There are probably many, but you have to have a spine.

Noun

spine (plural spines)
A person or thing’s backbone; the series of bones collectively from one’s (literal or figurative) head to tail or pelvis.
A rigid, pointed surface protuberance or needle-like structure on an animal, shell, or plant.
A Metaphor for courage or assertiveness, alluding to the backbone
The narrow, bound edge of a book.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Remember to use hard stops, and be charitable this time of year. (H/T Michael for the day trading forum)

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Take a look at this. I wanted to post this chart separately, because I think its a better alternative than what I posted a few hours ago.

Notice how it identified the break (the Force remained strong during the consolidation), and nailed the Trader Vic 2B (note the subsequent drop).

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Popular opinion would say to stay away from the 1st hour of trading. I signed up for the UTC, so I could learn how to do it. I could see I was missing opportunites, or worse, losing money. I’m pleased with what I found.

From this post by Dr. Brett, you can plainly see that you have to learn how to trade the opening hour.

Moreover, we can see that essentially all of the market’s upward trend has taken place during the first hour of trading. The first hour has accounted for about 1116 points of gain during 2007; the middle hours have lost about 780 points; and the last hour has gained about 719 points. What that means is that daytraders who sit out the first hour of trading have not, as a whole, benefited from the upward market trend. Indeed, there has been something of a downward trend to the market’s middle hours.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I won’t make any obvious references to an extremely popular movie. Its bad enough that we’re labeled trekkies around here.

Force index = (Close [today] - Close [yesterday]) * Volume

This indicator was also made by Dr. Alexander Elder (the R guy). Richard brought up a valid point about the bull and bear power indicators I was using. I still found that helpful, but it didn’t really tell you much that you couldn’t eyeball. I guess that’s why he’s been profitable longer, and more consistently, than me. I needed the indicator to tell me what he was already seeing. I found no problems with it, but I may have found something slightly more uselful, and definitely easier to watch.

I stumbled across the force indicator, and looked over the charts of the limited range data that I have. Incredible charts gives a good overview of the indicator.

My chart setup uses a 10-period weighted moving average, and the force index is calculated with the same parameters. I also don’t necessarily see the need in waiting for the turn in the MA, or the flattening out of it, to take profits. I would suggest playing the price action with tried and true setups, and using the force index to increase consistency/profitability.

If Force index flattens out it indicates that either (a) volumes are falling or (b) large volumes have failed to significantly move prices. Both are likely to precede a reversal.

Looking at one indicator is easier than watching two, and since it factors in what I consider to be the relevant information on volume, then this may be a good replacement. There is nothing new in this post. Its just another way for me to identify good reversal candidates. I guess you recognize the pattern in this chart, so there is no need to go over that. Can you say, One Trick Pony?

Edit: I just noticed something. When I was using the bull/bear power indicators, it didn’t give me enough information. A few minutes ago, I pulled up a change chart with the Force indicator. Man o’ Man! It looks like we have a winner. Not only did it identify each of the trades that would have signaled (most of them anyway) with the range chart, it made it easier to follow breaks. That’s what I originally noticed when I first looked at the change charts. I was already leaning towards the Force indicator, because of the simplicity. Now its a slam dunk, since I can use the change charts. It looks like it should provide opportunities in more than one way. Now, I may be a Two Trick Pony!

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

So you thought I was a clown a few days ago? Today I was Chuckles McGuffaw the 3rd, Chief Clown and Grand Jester of the Market Clowns Union, M.C.U. No. 1337.

I had the day off today, and I had a couple of hours around lunchtime. I started scalping RIMM, and ended up making 16 scalps, moving over $200,000 of stock. End result: -$33 on the positions, and then $32 in commissions for about -$65 down, or roughly 6% of my current account balance. Yet again, I prove to myself that I have no business away from the 15 min chart and defined setups. Scalping also invariably loses me money. It’s comical how many times I pay for the same lesson. I did do better this time than I ever have before, though. At least I’m improving. :)

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

If you’ve been following the intelligent discussion of this post, then you might be interested in this. Ainkurn’s brother sent me this video. For those who weren’t following it, Ainkurn is the one with the shaved head and goatee. This is absolutely not suitable for work, children, or those who are easily offended.

I believe this was Ainkurn’s true secret, and not what he alluded to in his blog. Since I also shave my head, I’m anxious to try this out, and see if it improves my trading. If nothing else, it should be interesting. MtM has now hit an all time low. I’m sure there will be repercussions, but it’s just too funny.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com