Stress-Free Trader (The Lawrence Chan Blog)
Full time index & forex trader, occasional consultant to hedge funds / institutions, my work leads to my not so normal view of the financial markets. My blog mostly talks about trading, market behaviours and other musings.
Originally this blog is supposed to be organized in a separate website like what most authors do but I don't think I will maintain it properly that way. So here it is as part of this website.
In case you are curious of what I do outside of blogging here:
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I wrote about the possibility of asset tax coming to town in the 3rd instalment of my bartering series.
Now, London is the first city to strike their foreign investors.
Straight from Bloomberg,
This is going to turn ugly everywhere.
What’s wrong with this picture?
Mr. Gilbert tells us how we keep making bad decisions even though we know clearly how not to. It is one of the original Ted Talks that really drive home the difficulties of making sound decisions that involve both time and money.
Note: Be reminded that it is a long talk at 34 minutes.
Most of the time, it is our worse enemy in trading.
It takes practice to hammer into our mind making rational decisions only in trading.
It takes more than just practice to be patient in trading. Not an easy task at all.
Ms. McGonigal talks about stress and how new findings in human response to stress leading to overhaul of our understanding of stress.
Ms. Gonigal mentioned courage which is really the main theme of the video.
Courage is known to be a born with characteristics. Some prefer calling it a potential only because it still takes effort to bring out the courage. What Ms. Gonigal says is that courage can be developed through the willingness to connect with other people and the willingness to feel what others feel.
I am bringing this up because traders are often facing adverse scenarios. Many people simply paralyzed when they are facing sudden change in the market environment that their logical self just couldn’t keep up. Courageous people, however, has the advantage of accepting the situation and move on.
I am not saying that trading with so much emotional swings is a good thing. I am saying that if the market can inflict emotional swings on you so badly, you need courage to overcome the adversities. What Ms. McGonigal says is a way out to reprogram our mind so that we can handle stressful environment better without the innate advantage.
I have been working on so many ideas for the site this year. Many already have a good start but some projects were left behind. Not a good sign.
One of the projects not taken care of, again, is the ebook Art of Chart Reading. I started writing the ebook almost 3 years ago and it is still not completed yet. If I were an ebook author who depends on the sales of my ebooks I would be in deep sh*t.
Slowly, I realize that the ebook is now close to completion. I already have drafts written for the remaining parts. Some of them in my computer for months that I pull them out from time to time to review and edit. Yet I never focus on finishing them when I am juggling with so many projects.
Looking at the main page for the ebook I can see that I promised myself to finish this project almost one year ago.
With the extra time I have on hand, it is time to focus on this project and have it completed finally!
As of this Thanksgiving, my trading year is done. It is an unusual year for me in many ways while it stays the same in others. I will still trade a bit here and there but nothing more than that until end of this year. Over the coming month, it will be a good time for reflection and setting goals for next year.
The unusual things for this year:
The usual things for this year:
Two things I know for sure I have to address in 2014 are:
Those who have not read my 2012 Time To Slack Off will find the discussion on reducing position size and analysis on your own trading techniques interesting. Will not repeat that here this year. Go read it if you have not.
Long delayed daily biases reporting for forex is almost ready.
It is the same concept as the one for S&P signal page except that for forex we need to produce the reports for the majors, not just one symbol.
Once we work out the remaining formatting issues will have it added to the forex signal page.
Will keep you all posted.
First, a video from Secret Life of Money from Discovery channel.
Not the full show here, just the short clip having the right statements and questions.
Second, a video from The Atlantic on the same subject.
Understand the basics about money will make you understand why Bitcoin is gaining all the buzz lately.
Who wouldn’t want their money to be safe from government and bank looting?
The Most Violent Condition On Earth Over Past 200 Years
2013 Nov 25 Mon 12:54:22 | by No comments yet|
For some mysterious reason, no one even reports what is happening around the world these days. Something like what we are experiencing now should be news everywhere yet not even one mainstream media is picking this up. Not news worthy?
I reported back on Nov 1 that the solar flares from the Sun will affect communication equipment. The sunspot cycle I mentioned also correspond to earthquake some how. Well, sunspot activity has be the mildest over the century, yet earthquakes at 6.0 or higher in Richter scale recorded is now the highest within a month in recent history. In addition, we now have the most number of volcanoes activated at the same time in recent 200 years.
What the hell is going on?
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