Sunday, March 16, 2008

Rather than fall into the egotistical trap of holding an outdated and simplistic expression as the lock to a potentially profitable and rewarding experience, I am going to write a manual how to trade for the local investors in Vietnam. (I'm referring to the notion, those who can DO and those who can't teach.) As a foreigner and a fluent English speaker there are vast resources available for free on the web that I can absorb easily and efficiently. Whereas many Vietnamese without either investing experience or fluent English skills cannot absorb things so easily. So, a guide is in order.

Why not just recommend a great book like Trader Vic or Market Wizards? Still, the same problem, language.

I will cull the best bits of wisdom and methods I have used to trade successfully and not so successfully.

Sure I'm not a millionaire trader yet and I still suffer severe draw downs for purely disciplinary reasons--my systems are solid I am confident in this finally after years of tinkering. I am sure I can be an asset to the people around me everyday. Not to mention I could create quite a niche market for myself. Perhaps even set up an IB for a forex broker and share in on my students potential success.

So I will be blogging more general about methods and trading ideas than in the past. I will start tomorrow with a general outline of what needs to be presented.

This ought to make me a better trader, or at least a more clear headed one. I would like to think of myself as on the cusp of financial Independence through trading. As a lifetime student of the trading markets, I think becoming a teacher of trading can be the first big step to a maturing process.

Tuesday, March 4, 2008

Great trade to start the week

Back from a relaxing but inpsiring trip to the Highlands. Shaking off the
frost with a swingin day on GBP/JPY. Market opened with a huge
downgap--would seem the Yen has regained its foothold on the currency
markets again. Ws expecting a retreat before strengthening. But you can
never predict that beasts will =)

Doesn't matter. It's irrelevant to my intraday methods now. I really feel
liberated by my current method. It seems regardess of the market
condition, it preforms reasonably well, with the exception of a stalled
trend that doesn't pullback enough for me to exit the countertrend signals
which inevitably form under these conditions. Lately all trends have been
very strong and direct, no half steps necessary allowing full extraction
of profits.