Thursday, December 31, 2009

Waiting for the New Year

I continued to paper trade until the Christmas holidays.  My experience has been that the holidays are difficult times for day traders.

I'm in no hurry.  The plan is set, so I just continued to gather data and experience.  This is the worst that I expect, based on the trades for December:


Posted by Harooki2 at 12:52 PM

3 comments:

  1. Harooki2,

    I commend you for this trade diary. I've enjoyed the insight to your trading world. Im new to trading and right now I only trade big news announcements( i know it sounds crazy but I've had some success with it). I stick to the emini s&p and I place an oco straddle with a stop loss and profit target in place right when the news comes out, then trade the correction. Im usually never trading more that 15 minutes a day and want a little more action. But, when it comes to any type of technical analysis I don't have a clue and I am interested in scalping during the day and learning a bit more about trading. Are you still using Barry Taylor's indicators? His system looks like it could be a good place to start. I would love to get a little feedback from you on his indicators if you have some time to shoot off an email to me. douganthony11@gmail.com. Keep up the good work! Doug

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  2. Yes, I'm still using his indicators. Specifically, I'm using Better Momentum, Better ProAm, and Better Sinewave.

    He does an unselfish job of teaching a method for them, but I've had to develop my own strategy with them. If you're new to technical analysis, that's good. Consider yourself lucky that you don't have to learn a lot of bad habits. Just buy those three from him (I don't earn a penny from it), and follow along with me. I think that, if you just stick to the technical analysis principles that go with those indicators, you're better of than wading through a bunch of gobbledygook about methods and indicators that don't work.

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  3. Thanks! I will take your advice and buy those 3. I've been looking around and asking around about analysis and strategy and I feel the same as you about having to wade through the crap!(which there seems to be quite a bit of it out there). I would rather learn one system and stick to it if thats possible???? I've heard in the market you have to constantly adapt your strategy. Not sure how true that is.

    It looks like I have to use TradeStation or MultiCharts huh?

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