Markets & After hours

[DSM]

We all have our trading styles and preferences. I am in favour of minimalism and simplicity. Incorporating these two aspects in life is empowering. In trading, it brings in clarity. Nothing to interpret, but what is before : Simple price action on charts.

Two charts of Natural Gas - 5M. One simple. Other simpler. Nothing more to say.

 

[amitrandive]

We all have our trading styles and preferences. I am in favour of minimalism and simplicity. Incorporating these two aspects in life is empowering. In trading, it brings in clarity. Nothing to interpret, but what is before : Simple price action on charts.

Two charts of Natural Gas - 5M. One simple. Other simpler. Nothing more to say.

DSM

Thanks for the charts , but be warned that NG is a highly illiquid commodity.Trading in NG can be dangerous.

It is only because of the reason that all commodities are in a trading range, the traders have flocked to NG.Also the harsh winters in the US have helped jack up NG prices.

Check these article
http://articles.economictimes.india...s/46828457_1_gas-prices-r-lng-niraj-mansingka

http://articles.economictimes.indiatimes.com/2014-02-17/news/47412335_1_mcx-arbitrageurs-counter

http://articles.economictimes.india...s/47126615_1_additional-rs-natural-gas-rs-320

 

[DSM]

The power of setting inspiring daily goals

Jerry Seinfeld is one of the world’s most celebrated comedians. He’s also one of the richest – since the final episode of Seinfeld aired in 1998, he’s earned $3.1 billion in repeat fees. Seinfeld’s success didn’t come out of thin air. Instead, he used a remarkably simple productivity system to come up with the best jokes and funniest stories:

Every day, he would write something. It could be a single joke, a funny anecdote, or even a full episode’s script. After he’d finished writing, he would mark the day on a wall calendar with a red X. After a few days, a chain of crosses started to emerge on the calendar. Seinfeld’s only goal was to keep the chain going – every day, whether a Monday or a Sunday, he sat down to write, and marked each day with a big red X. It is with these small goals achieved daily that he had a bank of readymade gags that could make people laugh for all occasions. What was usually thought of as somebody having talent for comedy was actually backed up by achieving daily goals thru commitment and hard word. The rest is of course history.

 

[DSM]

Hi Amit, Thanks. Actually trading NG is my favourite as it provides many good opportunites. NG Illiquid? I think along with crude, it is like 'Nifty' or 'Bank Nifty' of the MCX. BTW, I do spend a lot of time analyzing the charts 'as they happen' as many patterns, turning points repeat, which we can trade with good RR - if familiar. I analyze charts deeply. And just for today, I have saved more than 30 charts of NG on 3M timeframe (till now - with another 3 hours to go), I will mark levels, important patterns, and go thru these in details.... It is my 'homework' after market hours, but I love it. My simple philosophy towards trading is : If somebody is doing it, so can I - Only with more clarity and with familiarity with simpler charts. Appreciate your concern though. Thanks - BTW Have traded 5 lots of NG till now.

DSM

Thanks for the charts , but be warned that NG is a highly illiquid commodity.Trading in NG can be dangerous.

It is only because of the reason that all commodities are in a trading range, the traders have flocked to NG.Also the harsh winters in the US have helped jack up NG prices.

Check these article
http://articles.economictimes.india...s/46828457_1_gas-prices-r-lng-niraj-mansingka

http://articles.economictimes.indiatimes.com/2014-02-17/news/47412335_1_mcx-arbitrageurs-counter

http://articles.economictimes.india...s/47126615_1_additional-rs-natural-gas-rs-320

 

[amitrandive]

Hi Amit, Thanks. Actually trading NG is my favourite as it provides many good opportunites. NG Illiquid? I think along with crude, it is like 'Nifty' or 'Bank Nifty' of the MCX. BTW, I do spend a lot of time analyzing the charts 'as they happen' as many patterns, turning points repeat, which we can trade with good RR - if familiar. I analyze charts deeply. And just for today, I have saved more than 30 charts of NG on 3M timeframe (till now - with another 3 hours to go), I will mark levels, important patterns, and go thru these in details.... It is my 'homework' after market hours, but I love it. My simple philosophy towards trading is : If somebody is doing it, so can I - Only with more clarity and with familiarity with simpler charts. Appreciate your concern though. Thanks - BTW Have traded 5 lots of NG till now.

DSM
Best of Luck.My concern has reached you :thumb:

 

[OMSAI]

WhatsApp co-founder Brian Acton..... In 2009 he applied for a job at Facebook and was rejected......Now he Is in Board Of Director...of FACEBOOK.....He sold WhatsApp for $19bn.......To Facebook....

 

[amitrandive]

Three Things I learned from a Superstar Hedge Fund Trader
By Boris Schlossberg

Source: http://www.bkforex.com/boris-schlossberg/three-things-i-learned-from-a-superstar-hedge-fund-trader/

1. There is NO ONE STRATEGY for success.

One of Turney greatest skills is his ability to improvise and adapt. His greatly appreciates the fact that financial markets are always changing. In fact change is the only constant in the markets. Markets change not only in style (going from trending to choppy and vice versa) but in structure as well (from human voice trading, to computerized entry, to robot to robot trading). He readily conceded that some of his fast news trades would now not work in a market when robots beat you to the punch. So to be successful today, a trader needs to have a longer horizon and compete on analysis rather speed.

2. Never let your Profit and Loss Statement Determine Your Trading

This is such a common mistake that many of us are not even aware that we are making it. How often do you find yourself selling your position just because its profitable and “you made enough” or holding on to a loser “until it gets back to even”. By doing this we let the account equity drive our entry and exit orders. The end result is that all of us wind up cutting our winners short and letting the loser bleed. Indeed every study of retail trading accounts shows this pattern repeats over and over. According to Turney, the only question you need to ask yourself is “IS THIS POSITION A BUY OR A SELL RIGHT NOW?” If you did not have this trade on -- what would you do? If the answer is opposite of what you are doing then make the change.

3. You are not trading stocks, you are not trading currencies, you are not trading options -- you are trading INFORMATION

When you are speculating you are engaged in the art of trading information. We tend to objectify our trades and because as human beings we need to relate to something concrete we will often find ourselves attached to a position because we “believe” in the particular stock or currency pair. In reality they are just abstract symbols. It is very important to realize that when we trade we are simply speculating about the value of the information to the marketplace. That’s all. If the information isn’t valuable, our trade won’t work. That is why it is not worth it to obsesses or get emotional about any specific trading idea in your account. Its just a bet on information and no matter how much you cheer or curse it -- it really doesn’t care. The trade will do what the trade will do.

 

[DSM]

Seems this guy is not the sharpest knife in the drawer!!

 

[DSM]

Jesse Livermore on Trading – Nifty Millionaire

1. “Money is made by sitting, not trading."
2. “It takes time to make money.”
3. “It was never my thinking that made the big money for me, it always was sitting still after making a trade.”
4. “Nobody can catch all the fluctuations.”
5. “The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”
6. “Buy right, sit tight.”
7. “Men who can both be right and sit tight are uncommon.”
8. “Don’t give me timing, give me time.”
and finally, the most important thing:
9. “There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

Jesse was a trader but he knew the value of staying with positions and sometimes not trading at all.

 

[DSM]

Khazakhastan