Dont try to be someone else...

There is a great post from Dr. Brett Steenbarger again.
The Video shows what happens if you try to be someone else / copying someone else...
I had same experiences aswell, so i can agree with it ;-)

So many times before i tryed to adapt others trading style / pseudo-trading style and was never successfull with it.

Everyone has to identify itself with everything he does. none will ever succeed in trading whith copying someone else when he has another mindset.

In my opinion, trading is 95% psychological and 5% knowledge and not vice versa.
And in my opinion, this is the reason why 95% of all traders fail in their ambition to make continuous profits.

I DO IT MY WAY !


Here are the links:
http://traderfeed.blogspot.com/2009/04/illusions-and-blowup-of-trader.html
http://www.youtube.com/watch?v=pu-8wGbWMro
http://traderfeed.blogspot.com/2007/11/doll-face-trader.html

status uptick rule

as most of you know, the abolishment of the uptick rule back in 2007 caused the financial cirises we are in right now. So the only wy back out of the crisis is to reinstate the uptick rule somehow.
sounds easy huh ;-)

I dont know how it would affect your trading, but it would definitely affect mine.

Here are the latest posts regarding this toppic. I will update it from time to time:
http://money.cnn.com/2009/04/08/news/economy/sec_shortselling.reut/index.htm?postversion=2009040812

http://money.cnn.com/2009/03/24/markets/modified_uptick.reut/index.htm

the quote tracker paint bar indicator

about a week ago, i´ve red a comment over there in the traderam-blog.
here is the link:
http://traderam.blogspot.com/2009/03/trades-30mar2009.html

Before i´ve see this post, i didnt know about the abilities of quotetracker in this section.

Some post´s before, i was writing about the only reason so far for a possible switch to esignal, to make it possible to visualize my setups. After reading this comment to the post in traderam´s blog, i was googeling some paint bar related links and after a short while i was able to put some paintbar indicators online in my charts.

It is a big help to have my setups visualized and it saves time and stress. I think it was yesterday, when i came across the idea, to implement one more paintbar indicator.
The purpose of this indicator is to help me stop trading 40 minutes after market open.
After i made myself a easter present while archiving a intermediate goal, i spent some minutes regarding the development and after a short time it was done. It is a realy simple indicator that paints all my workingdesk in a loud red color that cant do anything else but causing headache when looking longer at the charts then my rules are made for...

On monday i will give it a first try and lets see if i can handle my biggest problem better whith the support of this nice indicator ;-)

One thing is clear again, we can all learn from each other and dont have to pay anybody for anything ;-) ...at least in certain areas in trading ;-)

Have a nice easter !