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Monday, 01 November 2010 22:58 |
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Most of my articles are inspired by the events of the current day and today I saw exactly what I love to see out of my trading; I was positive in 12 of 14 stocks, I was up early and slowly built it up into a nice day. As I was talking to a student who had also had a good day we discussed the idea of what his perfect day will look like and that is when I realized what constitutes my pefect day. My worst days are usually a much smalller number of stocks traded and staying in trades way too long. Often my bladder is full and my belly is empty and boy the stress level is off the charts. By knowing what your best and worst days look like you can get a feel for how your day is going throughout the day. If you are seeing your great day being setup, then you can feel confident that you are in a good groove and try to maximize your efforts. If you are stuck in trades, have not left your seat for hours and most of your positions are losers, then that is a great clue to minimize the damage, take a break or be done for the day. Are you able to articulate your good and bad days? If not start to get aware of the clues that can guide you to bigger winning days and smaller losing days. Happy Trading!
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Sunday, 31 October 2010 13:03 |
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I guess I picked a great week to get back into blogging and teaching as we have so much data and information to be digested early in the week and to see which way the market trades based on that information will be very interesting and perhaps the cause for large moves in the markets. First we have the election on Tuesday night. I believe the market has priced in a republican landslide taking control of the house and vastly reducing the majority in the Senate. Will Harry Reid win Nevada? Will the tea party take over and change the face of US politics forever? How will the market react if the Democrats manage to hold their majorities? These are all great questions and I believe what the markets will be focusing on. Remember markets love gridlock, they love stability and that is exactly what gridlock means to traders and investors so a Rebulican victory will be good for the markets. A democratic victory could be hurtful as this will mean more of President Obama's policies getting through Congress and his attacks on the wealthy will escalate to an even larger degree. All this talk of the election and that may only be the second most important event this week, on Wednesday afternoon Mr. Ben Bernanke and his FOMC will announce their intentions on QE2 and figure a way to crush the hopes and dreams of our younger generation even more. The markets have risen on the backs of massive QE2 expectations, perhaps over $1 trillion (do I feel the need to shave my head and place my pinky on the corner of my mouth?) and if the FOMC disappoints that could roil the markets. Why do we need QE2? Almost every so called expert that I have seen says we are not double dipping and even though we are growing slowly we are still growing and QE2 will not help bring more jobs into the mix. My take on this is that the FOMC is fed up with Congress's inability to do anything so they are coming out guns a blazing and trying to take over the world without them. Hey don't forget the FED owns about $2.5 trillion of bonds so QE2 helps their balance sheet dramatically, talk about "Talking your own book". The stock markets have been on a tear since the end of August up about 140 handles since then, so the trend is most definetly higher and "the trend is your friend". Bond prices are at record highs and gold is just coming off its record high, so there are a lot of things to keep an eye on this week. For me, this will be a slow starting week for trading and I think Friday was a good example of the lack of enthusiasm that traders are feeling right now. Be patient and keep a watchful eye until Wednesday afternoon, then rip the shreds out of the volatility.
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Saturday, 30 October 2010 19:31 |
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After 13 months at Hedge Fund Live, I am back to doing my own thing at Day Trade Well. I truly enjoyed my time there and learned a lot about working within a big organization, but at my heart I seem to enjoy doing my own thing and being more hands on with my students. I look forward to getting the Day Trade Well word out there again as I inted to write nearly everyday and hopefully add something to everyone's trading. All the best and I look forward to hearing from all of you. Best Regards, Mark Moskowitz
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