Mar 6

I just did some spring cleaning in my RSS reader, and I was a bit surprised by how many dead trading blogs there were. There were three main types:

  1. Just normal posts, and then I assume the blogger was stricken with a sudden, fatal malady. No explanation given.
  2. “I’m going to take a short break from blogging”… then… months to years of silence.
  3. “I’ve decided to quit blogging.” Reasons ranged from “I have a new job that keeps me from blogging” to “I’m tired of blogging.”

I really appreciate it when I get option (3). At least then I know for sure that you are gone, and why. Do you owe me that? Not really. It’s just what I’d prefer. I mean, I finally took NYSE Scalper off my reader, for instance, but if he actually ever does resume blogging I’ll miss it, now. It would have been cool if he made a final blog post to say whether he’s definitely out or not. Oh well.

I know many of you have heard my soapbox topic before about dead blogs, but I might as well repeat: if you quit your blog, PLEASE LEAVE IT ONLINE. In most cases, you aren’t even paying for the hosting, so there’s really no reason to break people’s links and bookmarks. Again, do you really owe me that? No. But what the hell, if it costs you no money, throw your readers a bone. Just today, another free trading blog went offline, and now my blog has more dead links in it.

Mar 6

I go over a trade that I hope is informative. I’ve been talking about trade management a lot in my videos lately because I think that’s probably the trickiest part for new traders to understand.

Mar 5

Quick day today. I made a few points in the first hour and a half or so, and I think I’ll take the rest of the day off. Yes, I am lazy. Are you jealous?

If you haven’t heard about it elsewhere already, you can get the new NiN here. The first part of the four-part work is free, and the rest is only $5 US.

Mar 4

Goes over the basic ‘relaxation’ kind of setup I’m currently looking for. Though, I haven’t seen many in the last few days. I don’t know if that’s just sucky market action or if these charts are just not what I need to be watching.

Mar 4
Mar 3

Sorry, no video or even screenshots today… I’ve been out at meetings and running errands pretty much since the markets closed. And, it’s actually snowing where I am, which makes driving far less fun.

I only made one trade for 1.25 pts in ES today. There was movement, but it wasn’t sustained movement… more like back and forth pushes today. My current setup (ever since I started easing into relaxation plays, really) has been to ride the 2nd push of a move. Too bad most of the moves only had one push! Part of the problem is that range bars require a bigger pullback to even register it on-screen. This may be a factor that forces me to either change my setup or change my visible bars back to volume bars. I’ll be keeping my eye on that…

I did refine my charts after looking over some data last weekend. Instead of basing most of my decisions on four point-original charts, now I use a point-original chart, a range bar chart, and two volume bar charts. I’ve put them together in combinations that help me gauge the amount of volume flowing into a move, and also maintains decent candle spacing. I’ll make a video sometime tomorrow that goes over the change. It’s still the same type of setup… just refining the bar types that feed the indicators.

Mar 2

This weekend I went to a class given by Sandi Smith of BrainWays Training and Development. It was a lot of fun. I liked it because it covered a lot of topics briefly, but there were handouts with lists of references where I can look up more detailed information. The class was small and refreshingly unafraid to participate, so the atmosphere was very friendly.

Brain

The class covered the topic of happiness from a psychological and neurological standpoint. It went over results from studies showing effects of sustained happiness on lifespan, coping ability, cardiovascular resilience, and more. We discussed brain plasticity, and the brain’s natural reluctance to build new habits. I noticed that the information about habits fit nicely with the layers of consciousness I learned about at my recent hypnosis experience (the brain is wired to reinforce what it thinks it knows and tries to ignore things that don’t fit the model… until there is too much evidence to ignore). We discussed various sources of happiness, and the degree to which they are demographic vs. genetic vs. environmental.

One early topic that got my attention was about how the emotional center of the brain activates abut 400 milliseconds before the logical center of the brain when confronted with new information. From this you can infer that, no matter how adept you become and recognizing and dealing with irrational fears, it would be practically impossible to fully eliminate them. I thought that was fascinating, since honing an ability to see through the mind’s distortions of reality is an important buddhist practice.

From there, the focus of this particular seminar was about our relationships with other people. The topic was approached from three directions: the types and qualities of our connections, interpreting social situations, and deepening relationships. The ideas presented ranged from common sense to intriguing. I was particularly interested in the positivity/negativity ratio which was apparently an extremely accurate predictor of divorce in at least one study. It also applies to other relationships like working groups.

I’ll be going to a second seminar Sandi’s giving in a couple weeks, and am looking forward to another great experience.

Some Related Material

Here’s a talk by Matthieu Ricard (a Buddhist monk) about the nature of authentic happiness. Before becoming a monk, he was a scientist, and he currently studies the effects of meditation on the brain. Towards the end of this talk, he describes a study on beginning meditators. It showed some impressive results from just 3 months of meditation, 30 minutes a day. The beginners showed reduced anxiety and increased immune response and left prefrontal cortex activity compared to the non-meditating control group.

One topic touched on in the class was the work of Paul Ekman. I looked briefly and found a video where Ekman discusses the science of reading faces. This video does not appear to be embeddable, so I’m just giving a link.

During lunch, I was talking about the way people aren’t wired to reason properly about the financial markets. Sandi thought I might find this book interesting: Judgment under Uncertainty: Heuristics and Biases. I will check it out!

Dunbar’s number, around 150, is the maximum number of stable social relationships people can juggle at one time. Don’t worry, ladies, I’ve still got a few vacancies.

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