2007 Jan 24 - Wed

Trading Site of the Day -- WilyTrader: The Blood and Guts of Freedom

WilyTrader.com is the Trading Blog of an independent trader who's been doing it for just over a year. Basically, it is a daily diary of trades and the thought processes he went through for each.

There are a couple of interesting observations regarding his site. One is to look at the types of tools he uses. He has two types of personal diaries for recording his trades: one diary to record the technical aspects such as the symbol, entry, exit, and associated indicators and indexes used to perform the signalling.

He uses a second diary type to record the psychology of the trade such as whether he exited late or early, whether it was a good idea or not, and then ranks it as Good, Bad, or OK.

There are two additional sections in each entry. One provides an annotated chart of one or more of his trades, with the chart showing the symbol plus his various indicators.

The second section of each entry is a description of the thought processes and observations of what happened during the relevant phases of the trade.

Overall, WilyTrader is an interesting site for seeing how someone else performs setups, entries, and exits.