In Like a Lamb, Out Like a Lion

My trading this year continues in a positive direction as I am consistently making weekly gains. Profits are not huge but they are non the less profits and I am experiencing consistency.

Ever since regrouping my thoughts and re-focusing between Thanksgiving and the end of January this year, I have really seen the market well and been "at peace with it".

In hindsight I think I was fighting the market, forcing too many trades. Now I am more inclined to let the market tell me what it's doing and let the trades come to me, rather than the other way around. The former was a recipe for inconsistency and confidence killing.

Patience, observing market flow, acting on what we see not what we think are important lessons to learn and utilize during our trading day. There are generally 1-3 "good" trades per day. As 'E' says, all we need is one good trade per day. It's there for us to take.

So I'm looking for this year to be like March is known to be. "In like a lamb and out like a lion". It's starting off fresh and innocent enough and will, with expectations of success, likely finish with a roar. Stay tuned.

Trade Well !

Price Action Cycle of Emotion

Here's a dandy example of how trader emotion creeps into the market as price action matures. Thanks to Brian Shannon and alphascanner for the reference. He also offers (IMHO) a must read book 'Technical Analysis Using Multiple Timeframes'. Brian really helps the trader understand timeframe relationships, market emotion and much more.

Trade Well !

Trading Resource

Here's an interesting spreadsheet(shared/posted by @brettdavid) I stumbled across. Thanks to @jaymaven for introducing me to another select field of stones to look under. There are many gold nuggets of info out there. We need to continually mine for those precious resources as we journey thru our trading career.



Trade Well !

Miss Trade Interviews "E", aka; The Emini Wizard

It's hard to believe I have not posted in my blog for a month. What better way to try and get back into a weekly posting habit than to share this interview recently posted by www.misstrade.wordpress.com who interviewed "E", founder and bigger than life keeper and educator of Emini Wizard System. Always humble, giving and helpful, this interview is a nice snap shot of what we get to experience on a daily bases in E-Nation's membership trading room. I suspect EWS is on the verge of going viral! Enjoy.

Dennis Parmalee talks Futures Education and Trading with Matt Davio @MissTrade from miss trade on Vimeo.

Trade Well !

Move the Rock

I continue to see the market well, being patient and letting trades come to me. Smaller position sizes and taking smaller chunks has helped me focus and capture more profits. Last two weeks all days were in the black. Move the rock (profits) nice and steady.

Emini Wizard system has upgraded the chat room by using the Omnovia platform. Awesome chat room now with not only written commentary by E but also by members.

In addition, the EWS chat room now has audio. E has begun talking through various observations, what to look for, the whys and whats behind market movement. EWS has taken the next big leap in trader education and this trader feels fortunate to have signed on last July.

Really nice to see the membership base growing and the EWS tools of learning developing into a dynamic forum. The group of members we have are helping each other learn, sharing observations and respectful of each other. Great environment for learning how to trade.

So learning how to move that rock is hard. But with passion, persistence, patience, EWS and the community of traders, moving the rock is getting easier and it's going further with each push.

Profiling Is Good

My trading continues to be fairly consistent as I am seeing and feeling the market better. I've recently got around to reading "Markets and Market Logic". I've had this book as an e-book for months but just got around to reading it. It's now on my "must read" list as it explains the auction process and has helped me see and anticipate the market in a more organized manner.

Market Profile is a strategy I've been aware of for months but have not paid too much attention to it until recently. I am studying the use of, and incorporating MP into my trading strategy. I believe adding MP, it will help pool other strategies I use into a more effective, synergy driven trading plan. For this reason, I believe "Profiling is Good".

Lately I've been targeting smaller profit objectives, using smaller positions and focusing on combo strategies as outlined by the EminiWizard. My trading is "feeling" more focused, planned and confident as results are bearing this out.

The journey to learn how to trade well is ongoing, personal growth advances and trading continues to be a passion.

Trade Well !

EOM Log

It's the end of the month and am happy to report that I had a relatively good month. After limiting outside distractions and focusing more on my trading habits, I believe I am making more progress in seeing and "feeling" the market.

Documenting my trades outside of this blog has been very helpful. I'm able to better document trades, identify strengths and weaknesses thus adjusting my emotions and trading posture.

My patience has improved, my profit objectives have been more reasonable and more consistency has been realized. Don't get me wrong, this is still difficult. But my journey to becoming a good, consistent trader is evolving in a positive direction.

So the last trading day is upon us and I can look back and say the start of 2010 has been good. Not great, but good. As long as I have the passion and continue to realize progress with my trading, I look forward to better and better EOM reports.

Trade Well !