2007 Sep 15 - Sat
Trading Site of the Day -- Trade-Ideas: Real Time Idea and Signal Generation
In another
article, I referenced the Trade-Ideas Blog. I don't recall ever making it
over to their web site. Today I made it over to their site by way of an article there on
Scalp Traders Access
Their Best Trades with Trade-Ideas. They have links from their to a page they have
whichreferences a bunch of their
signals. I've coded
several of those signals elsewhere, but this opens a whole new vista on possible trading
opportunities from a scalping perspective.
Another
page references how their
analysis engine uses different time frames, different data types, and different statistics
to come up with its signals.
I like how they do
mini charts to
provide an idea of daily and weekly price movements.
2007 Sep 12 - Wed
Trading Site of the Day -- Teresa Lo: Power Swings
Teresa Lo is a retired securities analyst who has a site called
PowerSwings. Here analytical skills
and powers of commentary show through. Two pages of interest, one on
Volatility and one on
Intraday Trading Strategies are recent articles with some good meat.
For intraday trading, she boils it down to:
- Use small discretionary setups to scalp the first half-hour, especially when the
market is really emotional. I particularly like small flags and gap plays documented in The
Ultimate Trading Course.
- Avoid getting killed after the first hour, when the market usually settles down and
starts to chop. Stay out.
- Get on board the train if it leaves the station in the afternoon for a trend day into
the close.
Once I get into the swing of things, I'm hoping I can break her rule #2, which is where I
think with contrarian Limit orders, one can make money in that sort of market condition.
She also promotes here Ultimate Trading Course. I don't know if it is a good thing or a
bad thing, perhaps someone could let me know.
Her site links to a number of high quality blogs.
WSJ Real Time Economics for one.
2007 Sep 07 - Fri
Trading Site of the Day -- Non Dealing Desk: Forum for Forex
For those who want to get inside the wild-west business of forex,
Non Dealing Desk Forum appears to be
a good one with which to start.
It has quite a number of forum sections, but then ones at the top of the list have to do
with 'Non-Dealing Desk Brokers', 'Dealing Desk Brokers', and 'Broker Selection Criteria'.
Other forums feature real life examples of what can happen to a trader when submitting
trades and stop orders.
Forum participants discuss the pros and cons of various brokers and of what to watch out
for.
So even though one sees many advertisments in print and the web for $500 sign up
accounts, they really are a guise for taking your money the easy way if you aren't prepared
for trading desks trading against you and taking out stops on a regular basis.
So really, in the world of forex, it is caveat emptor. Choose your broker wisely, and
above all, really hnow what you are doing (which ironically, may not be possible for the
neophyte trying to get started).
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