Thursday, 16 September 2010

Is everyday a ground hog day?

Since starting to write this blog I have received a steady stream of emails and comments from traders searching for CP. Many have said how they achieved CP using some of the information from this blog.

I congratulate you! How terrific.

Others are still on their way, or not.

Sometimes it's easier to teach newer traders to trade than ones with a history of not being profitable. These traders, and I was one (as are most self taught),  have picked up habits that become part of their daily methodology. Some of these habits are preventing them from achieving CP. This bad habits have to be resolved before as they are a barrier to CP. If this is you read on.

Einstein said that the definition of insanity was doing the same thing over and over and expecting a different result.

One of the exercises a trader can go through is to try and list the causes of his losing trades and the causes of his winning trades. Just two lists. A few words on each point. A winning trade can be the result of good luck or good management. Describe it. A trading journal can be golden when you use it as a source to make this list.

Once you have these two lists, you have something to work with.

The next step is to write a trading plan paying particular attention to the issues you found on your two lists, putting a trading structure into place within which you can exercise your discretionary rules.

Morning in Europe was OK but after our lunch, not much was happening.

A few nice Euro trades.


  1. Hello,

    I wonder whether Market Delta is an accurate picture of Order Flow. Recently, I have made an interesting experience. I found a green bar with a big red Market Delta. Is it possible that someone was sitting on the bid, catching all the sell orders? Some big guy, who has a strong market conviction, simply places multiple bid orders, soaking up all the sellers. Once the sellers noticed that price is not moving down (although they sold a lot!), they flipped the side. The bid-buyer created resistance... I think this phenomena is described as bid held...

    What do you think? If we see green bars with red Market Delta and momentum is up, would you think there is some big guy buying at the bid? Would you go with him or against him?

    Thanks a lot!!


  2. Samer, I saw that a lot on the floor. Big buyer just keeps raising his bid. One bar doesn't mean much. It's the whole picture that counts.

  3. Hi EL,

    I forgot something. May I kindly ask you for a favor?? Before you post your vid, you used to post a picture showing all of your trades. Can you please post a picture again (in addition to the video)? The main advantage of the picture was that one could enlarge it and it was more detailed...

    Once again, thousand thanks for this great blog!!!


  4. Hello Boss,

    Hello Samer,

    If you click inside the video once it has started it opens up in Youtube. You can then click on the lower right to expand it to full screen. You can also change the resolution to 720p and get what you are looking for and more.