Monday, November 30, 2009

Let me splain. No, there is too much....Let me sum up. ...

. Monday, November 30, 2009

Limit orders vs. Stop orders

The reason I gravitated to a break-out system is because although it cant be programmed, it is easily the most mechanical way to trade.

1. You see the formation shaping up
2. You scan the indicators
3. If they pass the test, put the stop order in right away ON A STOP
4. Your are using the DOME, so its all programmed in; no worries there


1. You can look at other markets
2. You can talk to your children
3. You can turn your head away from the screen
4. Limit orders are counter productive using my method
5. I want a fill and I want it when the B/O is hit
6. I DON'T WANT the market backing up to me-I don't want a better fill, I want a B/O !
7. If you put in a limit order after the fact, what if you miss? Are you going to
Who needs the aggravation? Heck, you needs the question?
8. If you chase, the market will turn on you...If you don't chase, you will miss the
trade of the week...Just the way it is...
9. If the market changes...a big report is looming...whatever, use the cancel
button...easy, and no second guessing.

Any questions?


Tuesday, November 17, 2009

I'm Back

. Tuesday, November 17, 2009

It has been more than a little while, but I am back and posting again...I have had more than a few problems but (mostly computer and connection) that's life...

I am on my own for the time being (my own indicators and no trading room), and exploring what I can find out there in the open access world---a few very interesting items and a ton of interesting ideas...

There are so many things out there, I wonder how many people trade and make money versus just trade here and there and discover new stuff?

It's OK either way, it just depends on ones true motivation...

Its not always that clear---and sometimes we, ourselves don't know...

I have a dear friend---he and I used to play poker quite a bit, sometimes at the same table. He was grousing about some of the players at the table one day, and I mentioned that we were all there for different reasons. He very adamantly stated he was there to make some money and nothing else...

If you watched him, nothing could be further from the truth...He was there socially, he was there to have fun...he was there to show off his verbal skills...he loved to be funny...he loved to be loved (even though he would kill me if he ever read this)...he was also a good solid player and hated to lose...

Now, this friend is one of the smartest people I have ever known, and if he is that clueless about a silly poker game, all us traders better be darn sure why we are playing THIS game.

Anyone reading this is a victim of some rambling thoughts...Trade well