Monday, April 30, 2007

Ebook: Bollinger on Bollinger Bands


Previously I quoted the summarised rules of Bollinger Bands.
Now, the complete guide to Bollinger Bands is available - by the master himself.
Bollinger on Bollinger Bands.

As usual, you are advised to download the ebook(s) soonest possible before the link expires or removed. I m not responsible of providing fresh links if they are no longer working.

Sunday, April 29, 2007

Why do I trade? - Part 1 - Definitions


Few days ago, I made a post - Why bother to trade?
I structured the post in such a way, which I think depicts the truths of trading and also provocative. While the total number of comments reached 18 comments, as at the time this post is being made, there is only a handful of people who commented. Which, I appreciate the comments made though, I am disappointed at the number of people who actually commented.

For the benefit of everyone, I would be putting down the definition of investing, trading, speculating and gambling. They are my definition and by no means correct, but they re my definition which I use.

Graham has a definition too. Let's look at Benjamin Graham's definition first.
What do we mean by “investor”? Throughout this book the term will be used in contradistinction to “speculator.” As far back as 1934, in our textbook Security Analysis,1 we attempted a precise formulation of the difference between the two, as follows: “An investment operation is one which, upon thorough analysis promises
safety of principal and an adequate return. Operations not meeting these requirements are speculative.”

And also, the commentary,
What exactly does Graham mean by an “intelligent” investor? Back in the first edition of this book, Graham defines the term—and he makes it clear that this kind of intelligence has nothing to do with IQ or SAT scores. It simply means being patient, disciplined, and eager to learn; you must also be able to harness your emotions and think for yourself. This kind of intelligence, explains Graham, “is a trait more of the character than of the brain.”

I dislike the definition as it does not distinguish trading from investing. Trading would include
1) A trading system with more than 50% accuracy.
2) Emotional control - much like what is emphasized by Graham as well though a slight change is needed.
3) Discipline to carry out stop loss and to trade as per the trading system.

This would satisfy Graham's criteria for as an investment which "Promises safety of capital and an adequate return"
1. Why safety - Money management techniques would safeguard the trades/trader, limiting the exposure or risk taken. This is normally in two folds - one in the form of stop loss. Another is the size of the trade, hence no overtrading is done.
2. Adequate return - The system which has more than 50% accuracy. And with emotional control to execute the system, adequate return will be guaranteed over the long run. Law of averages promises this.

So let's return to my definition. But as I ve mentioned, they are my definition and by no means correct, but they re my definition which I use.
Investment - Long term venture with intention to purchase the business or part of the business. Mindset here is as a shareholder of the company. While a shareholder mindset investor may dispose the investment in short period, this should not be an active pursuit. An investor should have the mindset of letting the business grow, otherwise, he wouldn't venture into it in the first place. Having run my own business before, I could tell you from experience, a business needs time to grow, things definitely do not happen instantly. An investor should be able to see the long term prospect of the company and base his decision on that.

Trading - A short term venture whose intention is to capitalise on the short term swings of the market. There is NO intention to be a shareholder. Objective is speed - not being an owner. While a trader may go for long term, it should not be a buy and hold strategy. Otherwise, it would be an investment. Yes, a Turtle Trading strategy would be difficult to differentiate whether it is a trade or an investment.

Speculation - While many have their own definition of speculation, my definition is being an operator. By this I mean to be able to "control" or influence the prices of a certain stock and enticing others to jump in on the wagon would be considered speculation. This is a highly specialized area where enormous amount of cash meets with the highest degree of skills.


Gambling - By gambling, I refer to the 90% of the market population. By jumping into a counter just because it is climbing up or just because it has shed 60% of its value is gambling. Why? Under what basis does one know that the trend will continue or will reverse? Without proper technique, its a gamble as there is no analysis nor any work done to justify the entry.
Majority of people also merely follow a tip. That would be gambling - no analysis done on the individual's part - no basis other than following the recommendation. The gamble is that the recommendation is correct. That is gambling.
Note: Even if I give certain recommendation, do make your own analysis and then derive on your own decision - then it could be either trading or investing. If you do not conduct your own analysis to ascertain the true picture of it, you re merely gambling that my recommendation is correct. I am known to be wrong. Everyone is known to be wrong. I ve yet to met anyone to be 100% correct. Show me one person who is 100% right all the time, and I ll show you a liar.
Then there are those who claimed to be traders but do not have a trading system - then they re not trading, they re effectively gambling. Without a system that works with the Law of Averages, there is NO safety. Hence - gambling.
Therefore, if there is no money management techniques incorporated into the trade entry, its gambling as well - NO money management concept - NO safety - GAMBLING.

~to be continued...

Further reading suggested on previous posts:
Gambling; Buy, Pray and Hold; Investing and Trading
Of Trader and Gambler

Saturday, April 28, 2007

Ebook: Dr Alexander Elder 2

And so, I left out the actual Entry and Exit book from my original post. Heh heh.
Here it is.

Alexander Elder - Entry & Exit

As usual, you are advised to download the ebook(s) soonest possible before the link expires or removed. I m not responsible of providing fresh links if they are no longer working.

EDIT: I forgot to give credit to Mr CS Ong for finding and sharing this ebook with me.

Thursday, April 26, 2007

The Yin & Yang of Candlesticks


Everything in the universe has a balance. And the balance is seen in yin and yang.
So does candlestick. To ease our memory of the patterns in candlestick, we need to understand the concept of yin and yang.

Let's take a look at this candle - irregardless of whether it is a black or white candle - is this a hammer or a hanging man?

Without knowing the previous trend, one would not know but to learn this, it is easiest to learn both together. Even Nison grouped them together in his book Japanese Candlestick Charting Techniques.
The hammer and hanging man can be recognized by three criteria:
1. The real body is at the upper end of the trading range. The color of
the real body is not important.
2. A long lower shadow should be twice the height of the real body
3. It should have no, or a very short, upper shadow.

The only difference is one appears on the uptrend, signalling potential downtrend; while the other is the exact opposite - appears on the downtrend signalling potential uptrend.

"What is in a name?" - Shakespeare.
But if you would really want to remember the name, an easy way is visualisation - for example, hanging man - I would visualise that to be hanging, one needs to be on a high position - so hanging man would be hanging on the uptrend, signalling on potential downtrend. Why signal potential downtrend? Well, after being hanged, one would be dead. Kind of obvious isn't it?
And if hanging man and hammer is the exact opposite and one has learnt the hanging man, what would be the hammer? Yeap. the exact opposite. Easy, isn't it?

Now look at the below, what is this - a Shooting Star or an Inverted Hammer?

Again the concept to learn is the same as the above illustration of the Hanging Man and the Hammer.

Hopefully this article would ease one's learning on the Candlesticks. Enjoy!

Why bother to trade?

WHY!!??

Why do you trade?
I often ask this question and often I am being asked this question.
Of course, the common answer is - for the money.
Some - for the adrenaline rush.
Others - for a different reason.

For those who trade for adrenaline rush, well, I could only tell you that trading is not supposed to be exciting. Its a business, not a game. And it may cost you if you re merely in for the excitement.

For money heh? Why trading?
The path of a trader is not easy, there is no easy money. Why do you trade?
For money?
There are numerous means for money - from getting an additional part time job to some Multi-Level Marketing (MLM) schemes.

Compare a sure part time income to the risk you re taking in trading. Why trade?
Compare MLMs with their "proven" marketing plans with the risk you re taking in trading. Why trade?
Want to trade for a living? Compare the security of a fulltime job vs the risk in trading - why trade?

Then some would say, trading is easier than others.
Getting a part time job is tiring. After working for 8 hours, its already exhausting. Part time job? You're kidding me!
MLM? Same with part time job. Most people are only free during the nights. So I have to meet them during the night AFTER my 8 hour fulltime job? Then every week, there is some sort of motivation meeting among members? You're kidding me!
Trading is different, every day I just buy some stocks and then sell them at a profit.

Bad news, buddy. Trading is worse than any part time job or MLMs.
I mentioned about plans - having the importance of having a game plan:
Game Plan
Being Bold and Able to Be Bold

That requires time and discipline.
Every single night (or day) without fail, one needs to prepare for the next day's trade.
If you re unprepared, my advice is - don't trade.
Why? The price movements of the counter you ve selected should not surprise you. You do not the time nor the luxury to be surprised. Act. Act immediately. And how could one act decisively if there wasn't a plan made in the first place?

Compare that to a part time job, compare it to a MLM scheme. Would trading really be better?
You would see that trading requires more discipline and is more risky. So I don't get it, why bother to trade then?

I'm curious. Do share your views. :)

Wednesday, April 25, 2007

Ebook: Dr Alexander Elder


Dr Alexander Elder writes one of the best basic trading book covering from the right mindset, winning attitude, money management, and to essential technical knowledge.
Read all about it in Trading For a Living

After Trading For a Living, Dr Alexander Elder restrengthen and refortifies the principles to trading in Come to My Trading Room.

Maybe one still would have doubts. Perhaps Dr Alexander Elder is a genius. A rare exception. How could we mere mortals hope to emulate his successes? In the book, Study Guide to Entries and Exits, you will be shown to 16, yes 16 individuals who have different trading capitals base and levels of experience but are equally successful. They're all traders. :)

As usual, you are advised to download the ebook(s) soonest possible before the link expires or removed. I m not responsible of providing fresh links if they are no longer working.

Tuesday, April 24, 2007

Metastock Version 8.0


And so, many enquired as to where to download this.
I finally "found" a link which could resolve this issue.
The file is separated into two parts using Winrar. You ll need both the files.
Metastock v8.0 Part 1
Metastock v8.0 Part 2

Metastock v8.0 is the most stable version.
As per my previous post - Tools of Trade, you'll need to purchase the data from Bizfun.
Its only a one time fee of RM80.00. A superb bargain, I must add.

What can Metastock do for you?
1) Data at your fingertips - everyday download the data and extract it. Thereafter, you can manipulate the chart to your liking without an internet connection.
2) Custom Indicator - as you grow in TA, you may want to customise some of your own indicators. MS allows you to do it.
3) System Tester - Have a new system to test out? MS has a System Tester function which could test your system's success rate.
4) Exploration - How to shortlist the large number of counters in KLSE? Easy, insert the criteria you want and MS Explorer will do it for you.
5) Expert System - Here you can insert certain buy/sell signal or even a commentary.

The long and short of this is, MS is by far, the best charting software. Its versatility and user-friendliness is thus far, in my opinion, unmatched.

PS: As usual, you are advised to download before the link expires or removed. I m not responsible of providing fresh links if they are no longer working.

Monday, April 23, 2007

Being Bold and Able to be Bold

In my previous post about Trading Plan - I stressed the importance of having a trading plan. A trading plan should have at the very least, three elements:
1) Entry position
2) Position sizing
3) Exit position

By having a trading plan, effectively, an individual has an added edge over the others. One would know what, when and how much to enter for a particular stock. The price is 0.50 now, should I enter now? The price is 0.49, is it now a bargain (since its cheaper than earlier 0.50) or does it render the plan null and void (since crucial support is broken)? I don't know, but your trading plan should already tell you that.

Ok, so we know whether we should enter or not. Question is how much? Should it be 1 lot? 5 lots? 10 lots? Should it be 5% of your funds, or 10% or 20%? Again, I don't know. Your trading plan should also tell you that.

Exit. Now comes the really difficult part. When to exit - irregardless of whether the exit is made on a profit or loss, when do we need to exit? If we purchased at 0.50, should we exit at 0.48 or 0.45? If the price moved to 0.60, should we take profit, or should we let it run?

Point is actually, when the market is ongoing, we barely have time to analyse or to think. Most of the work should have been done the day before. On the market day, we merely execute the plan - entry and exit should be planned. And when the time comes, we need to be bold to carry out the plan.

Say the plan calls for entry at 0.50, but we hesitate, the next moment, its going to be 0.52. Then, we ll tell ourselves, it ll pullback later, it will. But we re merely consoling ourselves. Price went up to 0.55. Should we still enter? Now its 0.05 or 10% higher than our original planned entry price. What do we do now?

Same with exit - whether its profit take level or stop loss - should we exit at 0.50 as planned? Heh, heh, I can tell you from experience, the moment we hesitate, the price is not going to go our way, its going for 0.48, the next moment we hesitate again, its going to be 0.45, and then 0.42 and lower and lower.

So be bold my friends. Be bold in taking and making the decision. And have the trading plan in hand - to be able to be bold.

"Boldness has genius, power, and magic in it. Begin it now."
- Johann Wolfgang Von Goethe

Sunday, April 22, 2007

Leading and Lagging Indicators

I've always held the belief, and still do, that all indicators are lagging. Indicators are based on past price volume action, hence lagging. However, this is my personal belief.
Mainstream wise, TA indicators are grouped into Lagging Indicators and Leading Indicators.

Lagging Indicators

Trend indicators fall into this category as they assist us in identifying the underlying trend based on past movement. This would include indicators such as Moving Averages.
As per my previous post - One shoe size fits all, I had a section on Crossover with Moving Averages as examples - terms such as Golden Cross and Dead Cross should be a familiar term.
When a Golden Cross appears, it is normally after the change of trend has already occurred fo sometime, ie, not the first sign of trend change.
Same goes to a Dead Cross, the downtrend is already obvious from the price movement itself - hence why it is labelled as a lagging indicator.

So since it is lagging, why do we need these Lagging Indicators? Well, actually, we don't really "need" them. However, they assist in helping us to "visually see" the trend continuation. As for trend reversals, they are confirmations that trend reversals has already happened.
These Lagging Indicators can also be used as entry points for Fundamentalists whose Trading/Investing Plan mainly focuses on FA. A simple TA method to use for Fundamentalist is actually Moving Average Crossovers. A reliable indicator for safe entry when the holding period is for the longer term.

Leading Indicators

Leading indicators are those which are used to predict price movement - or potential trend reversals. Indicators such as the RSI would fall into this category.
As per my previous post - One shoe size fits all, I had many sections which demonstrates how it could be applied in practice.
So why is this considered Leading? Well, the idea is that these indicators are supposed to be used to predict the future price movement - as the key reversal point are being formed.
However do take note that, Leading Indicators are best used in a Trading Range rather than a Trending Market. Sometimes, an oscillator can remain overbought or oversold condition for some time, remember?

So anyway, there, a summary of leading and lagging indicators. A trading system, in my opinion, should have a mixture of these two elements as they do complement each other. One to identify early trend change, another to confirm and provide continuation signals.

Saturday, April 21, 2007

Fear and Greed


Fear, fear is my ally
- Darth Maul


Fear is the path to the dark side. Fear leads to anger. Anger leads to hate. Hate leads to suffering. I sense much fear in you
- Master Yoda

Fear and Greed has always been blamed behind every market movement. When the movement is up, it is due to greed. When its a correction, it is fear. Many strategies have also been formed around these emotions - buy when everyone else is fearful, for example is a contrarian strategy.
There have been a lot of talks about the importance of having neither fear nor greed. Total emotionless in trading as emotions clouds our judgment. While this sounds logical, is this truly possible and would it yield a better result?


To know this for sure, today we look into Automated Trading System.
Automated Trading Systems automatically executes signals from any strategy through a broker. It is a software that trades your Trading System for you. Manual entry is no longer necessary. Entry and exit are made at lightning speed, so to speak.

Locally, unfortunately, there is no such software for or use and testing, or so none to the best of my knowledge. However, overseas wise, this development have been for quite some time.

The question remains, is consistent profits from an Automated Trading System possible?
According to a survey (poll) conducted by a leading trading forum, the results are as follows:
Yes - large consistent short term gains - 37%
Yes - slow long term gains - 11%
Possibly but none would sell their system - 24%
No - its a trader's fantasy - 28%

There could be other reasons such as the complexity of programming what the human mind knows into the software. Or some other reasons. However, from the results of the survey, we could see that among the traders, not many of them have generated profits consistently from these Automated Trading Systems.

Therefore, I am inclined to conclude that there exist no evidence that trading without any emotions would yield better results.

Courage is resistance to fear, mastery of fear, not absence of fear.
- Mark Twain

I used to have the fallacy that one should trade without any emotions. However, lately, thanks to Ben of Wisdom Wise, I realised that one need not be a robot to trade. One merely needs emotional control, not emotional absence. Make fear and greed an ally.

If you remembered, I ve posted an excerpt from Wall Street previously - Greed is Good.

Greed and fear - the notorious driver of the stock market.
Make them an ally.
To the end, we re only human.
Master your fear, master your greed, and have the wisdom to know when to be greedy and when to be fearful.

Friday, April 20, 2007

Ebook: Jesse Livermore


Jesse Livermore was touted as the World's Greatest Trader.
Why? Is it because of his successes in becoming the World's Richest Man from zilch?
Or from his successful bear raids?
Or cornering of many commodity markets?

Perhaps. But to me, the title was worthy but for a different reason.
Jesse Livermore was perhaps one of the earliest to lay down the rules of trading.
Never risk more than 20% of your capital.
Do not buy a stock because it has had a big decline from its previous high.
Profits always take care of themselves, but losses never do.
Never average losses.
Markets are never wrong —opinions often are.
And he did so with much glory and pain as well. His phenomenal rise and fall is all summarised and offers a great learning to us all. I believe it even paved the way to the emergence of Money Management Concepts.


Reminiscence of a Stock Operator


How To Trade Stocks


How To Trade Like Jesse Livermore


Legacy of Jesse Livermore

As usual, you are advised to download the ebook(s) soonest possible before the link expires or removed. I m not responsible of providing fresh links if they are no longer working.

Thursday, April 19, 2007

The HOLY GRAIL


In the ancient tombs of Pharaoh Tutankhamen of Egypt, it was said that there resides the Holy Grail for centuries. For centuries, many searched for this magical instruction on how to profit in the stock market but to date there has been no evidence of anyone succeeded in the quest. Rumor has it though that an elite few managed to unlock its secrets and earned vast fortunes from the market.

But beware! It is also rumored that the scroll of the Holy Grail is protected by the spirits of the Pharaoh’s himself! One wrong move, and the ancient spirits will descend a terrible curse on the unlucky one for seven generations.

This however, would merely mean nothing to the treasure hunters. Every year, new bands treasure hunters would emerge to embark a journey to seek this magical scroll of the Holy Grail.

Haha, thanks for indulging me with a little drama – just for humor J

Holy Grail, I m sure each and everyone of us, has at some point of our trading/investing lives, searched for this Holy Grail. And we would conclude that there are no such-a-thing as this rumored Holy Grail. And, oh, if you re still looking for it and have not given up hope on the Holy Grail, I must apologize for bursting your bubble. :P

However, allow me to share an excerpt from Van Tharp’s Trade Your Way to Financial Freedom, in which, I owe my gratitude to Mr CS Ong, I presume :)

The “Holy Grail” is not some magical source that is the key to the markets, as most people believe. The metaphor of the “Holy Grail,” according to scholars like Joseph Campbell, is all about finding yourself. Similarly, the “Holy Grail” in the markets - the key to unlocking profits - is all about finding yourself.

To unlock the “Holy Grail,” you need to appreciate your own ability to think and be unique. People make money by finding themselves, achieving their potential, and getting in tune with themselves so that they can follow the flow of the market.

Getting in tune with yourself means finding an inner peace inside. It means finding a balance between profits and losses. The Holy Grail is not a magical trading system; it is an inner struggle.

Once you’ve discovered that, and resolved the struggle, you can find a trading system that will work for you

Van Tharp couldn’t have said it better.

“If you look far, it’s very far away,
If you look near, it’s right before your very eyes”

- Chinese Proverb

Wednesday, April 18, 2007

John Bollinger on Bollinger Bands


What is Bollinger Bands?
Bollinger Bands is a trading band indicator. It is an indicator that envelops the prices of a certain stock. It does NOT give a definitive buy or sell signal. However, it indicates an answer if the prices are relatively high or relatively low.

Who else to learn from about Bollinger Bands, if not John Bollinger himself?
So here are the Rules from John Bollinger himself.

One of the great joys of having invented an analytical technique such as Bollinger Bands is seeing what other people do with it. While there are many ways to use Bollinger Bands, following are a few rules that serve as a good beginning point.

  • Bollinger Bands provide a relative definition of high and low.
  • That relative definition can be used to compare price action and indicator action to arrive at rigorous buy and sell decisions.
  • Appropriate indicators can be derived from momentum, volume, sentiment, open interest, inter-market data, etc.
  • Volatility and trend have already been deployed in the construction of Bollinger Bands, so their use for confirmation of price action is not recommended
  • The indicators used for confirmation should not be directly related to one another. Two indicators from the same category do not increase confirmation. Avoid colinearity.
  • Bollinger Bands can also be used to clarify pure price patterns such as M-type; tops and W-type bottoms, momentum shifts, etc.
  • Price can, and does, walk up the upper Bollinger Band and down the lower Bollinger Band.
  • Closes outside the Bollinger Bands can be continuation signals, not reversal signals - as is demonstrated by the use of Bollinger Bands in some very successful volatility-breakout systems.
  • The default parameters of 20 periods for the moving average and standard deviation calculations, and two standard deviations for the bandwidth are just that, defaults. The actual parameters needed for any given market/task may be different.
  • The average deployed should not be the best one for crossovers. Rather, it should be descriptive of the intermediate-term trend.
  • If the average is lengthened the number of standard deviations needs to be increased simultaneously; from 2 at 20 periods, to 2.1 at 50 periods. Likewise, if the average is shortened the number of standard deviations should be reduced; from 2 at 20 periods, to 1.9 at 10 periods.
  • Bollinger Bands are based upon a simple moving average. This is because a simple moving average is used in the standard deviation calculation and we wish to be logically consistent.
  • Be careful about making statistical assumptions based on the use of the standard deviation calculation in the construction of the bands. The sample size in most deployments of Bollinger Bands is too small for statistical significance and the distributions involved are rarely normal.
  • Indicators can be normalized with %b, eliminating fixed thresholds in the process.
  • Finally, tags of the bands are just that, tags not signals. A tag of the upper Bollinger Band is NOT in-and-of-itself a sell signal. A tag of the lower Bollinger Band is NOT in-and-of-itself a buy signal.

Tuesday, April 17, 2007

EBook: Benjamin Graham


Benjamin Graham's Intelligent Investor
Touted as a MUST READ by many.
Finally I found the ebook version.
Enjoy!

PS: You are advised to download the ebook(s) soonest possible before the link expires or removed. I m not responsible of providing fresh links if they are no longer working.

2 X 5


According to Benjamin Graham, “An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.”

A trader would need to have at least the following:

1) Trading system which has more than 50% probability.
2) Emotional control - much like what is emphasized by Graham as well though a slight change is needed.
3) Discipline to carry out stop loss and to trade as per the trading system.

And with these three, it would fit to Graham's definition of investment which "promises safety of principal and an adequate return"
1) Why safety - Money management techniques would safeguard the trades/trader, limiting the exposure or risk taken. This is normally in two folds - one in the form of stop loss. Another is the size of the trade, hence no overtrading is done.

2.) Adequate return - The system which has more than 50% accuracy. And with emotional control to execute the system, adequate return will be guaranteed over the long run. Law of averages promises this.

So apparently, ALL traders are investors by Graham’s definition.

Allow me to share with you a video which would depict what’s on my mind. Oh, for those who do not understand Cantonese, please accept my apologies.



Monday, April 16, 2007

EBooks: Nicholas Darvas




How I Made $2 Million in the Stock Market
Darvas Flow Chart

These ebooks are available for download in Blisswind Google Group.
And many more! Join today!
Hehe, good promotional gimmick, huh? But hey, it won't cost you anything :)

Game Plan


Sun Tzu said,
“Warfare is a great matter to a nation; it is the ground of death and of life; it is the way of survival and of destruction, and must be examined thoroughly”

In which Maxforce interprets,
“Investment/Trading is a great matter to our financial wealth; it is the ground of financial ruin and of financial success; it is the way of unlimited riches and of bankruptcy declaration, and must be examined thoroughly.

Sun Tzu continued later,
”Therefore, those skilled in warfare establish positions that make them invincible and do not miss opportunities to attack the enemy.
Therefore, a victorious army first obtains conditions for victory, then seeks to do battle.
A defeated army first seeks to do battle, then obtains conditions for victory”

in which Maxforce again interprets,
“Therefore, those skilled in investment/trading establish positions that minimize their risks and do not miss the opportunity to maximize their gains.
Therefore, a victorious investor/trader first place as many factor in their favor, then enters the trade.
A defeated gambler first seeks to make entry, then looks for conditions in their favor."


There can be no sufficient emphasis on to have a trading plan. Before one enters the trade, it is best to have a trading plan. This is not unlike warfare, before one gives battle, an attack or defense plan is drawn. Before a football game is played, the manager of the club would have communicated the formation, the game plan for the day.

In addition, Warren Buffett, also once mentioned, “To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound framework for making decisions and the ability to keep emotions from corroding that framework”

Buffett basically had summed it all up.
However, all in all, a trading plan is only as good as a plan, if it is not being carried out.
Plan your trade, trade your plan.

Happy Trading!

Sunday, April 15, 2007

EBook: Steve Nison

OK, due to popular demand, I am opening a new section - Ebooks.
I hope this blog doesn't get shut down because of it.



Let's start off with Steve Nison's collection:
Japanese Candlestick Charting Techniques
Beyond Candlestick
The Candlestick Course

You are advised to download them soonest possible before the link expires or removed.
I m not responsible of providing fresh links if they are no longer working.
Enjoy!

PS: I m not using the Blisswise Google Group because there seemed to be problems everytime I upload there. Sorry Ben.