ElectronicLocal: Trading a Quiet Market

Tuesday 22 March 2011

Trading a Quiet Market

Today's first half of ES RTH was quiet again. I traded with a different style to yesterday, as the action was different.

There were really just two trades: the first was selling yesterday's VAH at around 1294.25 and the second was selling today's DVAH at around 1293.50 coinciding with yesterday's POC. Range extended down so shorts were what I would look for now if I was still trading, but by selling a rally.

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I have enough money to last me the rest of my life unless i buy something - Rodney Dangerfield

I'm teaching my youngest daughter to trade. She's a 25-year old IT professional who came to me a couple of months ago and said, "Dad, I want to learn to trade. I’m tired of working so hard making other people lots of money. Do you think I can do what you do?".

I've been a successful trader for over 30 years, yet I’ve always discouraged my kids from becoming traders. It's a hard way to make a consistent living unless you have strong discipline and focus. Then I thought, she has a career to fall back on if she doesn’t succeed, which often happens. Plus she was very insistent, (a good trait for a trader) so I said OK.

Was this a weak moment of a dad being wrapped around a daughter's finger?

Will I fail?

Will she fail?

So this blog will be our trading journey and journal. The good, bad and everything in between.

I'll start by posting a huge amount of trading and background information. So if you're following this blog start with the oldest posts.

As things get moving, I'll be adding questions, answers and comments. Twitter will provide Tweets of trading information and I'll even try videos to get the difficult trading concepts and ideas across.

We should end up with an all in one reference and "how to" of my trading methodology.

Tom

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Tuesday 22 March 2011

Trading a Quiet Market

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