A collection of the time based statistical biases often mentioned in real-time commentaries on trading S&P 500 related instruments (e.g. e-mini S&P, SPY, etc.). Volume 2 focuses on weekly bias and strategic planning.
Time Map is the concept of utilizing strong time based statistical biases to improve a trader’s existing trading setups/methods.
In this second volume, the focus is on weekly biases. Many daytraders do not notice that there are a number of strong recurring behaviours in S&P on weekly level that can provide important clues in improving their entry timing and price targeting. By knowing these weekly biases, a trader is better prepared without being surprised by the market that often again.
Written by Lawrence Chan
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* copies downloaded before mid April 2012 please read the correction notice
For some brokerages, they are starting to charge a Last Trading Day Fee that is imposed by the clearing firms.
It can amount to $200 or more for contracts that are deliverable.
Check with your brokerage to see if you are subjected to the rule. If so, then remember to mark down the dates that you should switch to the next contract.
Another trend we’ve spotted is that some brokerages are charging inactivity fees. Some do it on a monthly basis, meaning that if your account is not active for a month, money is deducted from your trading account. Some do it on a yearly basis – when your account is inactive for a year, a fee is imposed.
If you keep several trading accounts yourself, then make sure you take the time to review the latest account policies to avoid being surprised by your brokerage like some of our readers.
A collection of the time based statistical biases for trading Forex majors. A useful reference if you are not already familiar with the time based trading techniques.
Time Map is the concept of utilizing strong time based statistical biases to improve a trader’s existing trading setups/methods.
In this first volume, the most important/foundational biases that are useful for Forex trading are provided so that any daytrader can easily incorporate the biases into his/her decision making process.
A must read for those daytraders who want to improve their trading performances and also for those who find standard trading techniques failed to satisfy their needs.
Learn the Hidden Structure in Trading Markets Now.
Introducing
Special Theory of Price Discovery
Your beliefs in trading markets will change forever
Auction Based Trading Markets Are Unfair By Design
Most of the trading markets nowadays are open auction markets. Auction markets are designed to favour players with intimidating position size capacities.
Read STOPD to learn the truth and start to observe market behaviour in a totally different way.
The Structure is Hidden in Plain Sight
Classic technical analysis suffers from fragmented trading setups and incoherent interpretations, making it difficult to apply in real-life situation.
STOPD provides you with a framework to read the markets fluently as if you are holding onto a GPS at a crossroad.
The Key to Profitability is the Exit Not the Entry
Price pattern recognition and trading setups give you trading entries but failed miserably in providing the all important target zones to exit your trades.
STOPD gives you the structural target when price reacts at structural price level – taking out the guesswork and improve your profitability quickly as it can be integrated with your existing trading strategies easily.
Get Your Downloadable Copy Now!
Lawrence Chan, founder of DaytradingBias.com, is a well-known researcher on financial markets for over 20 years.
By using advance computer modeling techniques to conduct complex market simulations with virtual participants, Mr. Chan and his team has successfully isolated the cause of recurring market behaviours beyond the most sophisticated data mining can do from analyzing historical data alone.
Dependable recurring patterns are identified and cross verified against billions of actual historical trade records to confirm their usefulness and accuracies.
A collection of the time based statistical biases often mentioned in real-time commentaries on trading S&P 500 related instruments (e.g. e-mini S&P, SPY, etc.). A useful reference if you are not already familiar with the time based trading techniques.
Time Map is the concept of utilizing strong time based statistical biases to improve a trader’s existing trading setups/methods.
In this first volume, the most important/foundational biases that are useful for S&P 500 trading are provided so that any daytrader can easily incorporate the biases into his/her decision making process.
A must read for those daytraders who want to improve their trading performances and also for those who find standard trading techniques failed to satisfy their needs.
Most people start trading or investing their own money with less than best effort. Retail traders ill-prepared like that are destined to fail. In Know Your Odds Before You Trade, a trading veteran walks you through various aspects in retail trading, giving you a better chance at beating the odds to consistent profitability. Highly recommended for people who are considering to trade or those who have been struggling with trading for years.
Edited by Lawrence Chan Written by Lawrence Chan and other contributors Copyright 2010 All rights reserved First edition – July 16, 2010
This is our condensed guide to daytrading and trading in general. A lot of topics are touched so that newcomers to daytrading will have a checklist on hand that they can explore from.
New to Trading
or You Have Never Made Any Money Trading
What is trading, investing, or speculation in various markets?[+ show][- hide]
Underneath all these complex explanation from too many sources that they are different, the truth is that all these activities are exactly the same.
The act of putting up money into any activities for the purpose of profiting from the process
Any financial instruments, or even non-financial instruments, that you can engage in trading
Deep understanding and mental comfortability with the instrument you choose to trade is more important than the potential profitability of the instrument itself
If you know that you are not a decisive person, or that you do not have a lot of discipline, having a trading mentor helps a lot in getting you thru the beginner phase
Given a good mentor, be prepared to empty your mind, keep your mouth shut, and listen carefully
You will not be able to absorb anything if you do not pay attention and keep an open mind on new ideas
Some trainers and coaches that we recommend is listed here.
I am sorry to say this – but some people just cannot learn from their own mistakes, they just cannot. These individuals, if they cannot swallow their pride and give themselves into training programs offered by good mentors/trainers, they should forget about trading, or any form of risk taking in their lives.
Daytrading requires software for order placement, the software and infrastructure that supports the software will determine if the brokerage is good for daytrading
Research carefully before sending money to a brokerage
Do not deposit large amount of money to a new account, especially if you just started learning to trade
If you are not technology savvy then learn to be one
There is no such thing as the best trading tool. Each software application has its limitation and unique strength. Find the ones that fit your need, then learn to utilize them fully.
As a beginner do not assume your trading model (if you have one) will perform at that magical 90% winning rate you get from backtesting. It will likely be 50% in real life.
Most beginners do not even get close to 50/50 in terms of winning trades. Focus on getting those trades that logically (not your wishful thinking) produce 3 to 1 payoff.
For most markets, scalping for retail traders is no longer a profitable method to daytrade. At best, it is labour intensive work with return that do not justify the risk that is involved
Leave extremely fast trading to the bots and HFTs, if you are trading with limited capital or do not have the know-how in the related technologies
Several good trades a day is better than exhausting your mind and body into tens or even hundreds of trades a day
Simulated trading helps, if and only if you do it seriously
For those without a trainer or mentor, you are your own teacher during this learning process. Thus you must be critical on yourself. See your own weaknesses and strength. Build from there.
Human emotions attached to the profit/loss on every trade wears a trader down mentally and in turn affects the performance
Irrational behaviours from human traders like not honoring their trading plans or money management rules can seriously damage the performance of good trading strategies
Able to filter a messy scenario into concrete logical rules that a human trader may find confusing to engage with
You hire a secretary to type a letter for you based on what you wanted to say. Same go for trading programs – they should be there to assist you in making the trading decision, not making that for you.
Have the trading tools identify crucial conditions and facts in real-time for you where you can focus on making the right decisions
Use trading tools to reduce stress and improve your odds, not the other way around.
A collection of the time based statistical biases often mentioned in real-time commentaries on trading S&P 500 related instruments (e.g. e-mini S&P, SPY, etc.). Volume 2 focuses on weekly bias and strategic planning.
A collection of the time based statistical biases for trading Forex majors. A useful reference if you are not already familiar with the time based trading techniques.
A collection of the time based statistical biases often mentioned in real-time commentaries on trading S&P 500 related instruments (e.g. e-mini S&P, SPY, etc.). A useful reference if you are not already familiar with the time based trading techniques.
Edited by Lawrence Chan
Be Aware of Last Trading Day Fees and Inactivity Fees
Posted by: Lawrence Chan | Comments (0)For some brokerages, they are starting to charge a Last Trading Day Fee that is imposed by the clearing firms.
It can amount to $200 or more for contracts that are deliverable.
Check with your brokerage to see if you are subjected to the rule. If so, then remember to mark down the dates that you should switch to the next contract.
Another trend we’ve spotted is that some brokerages are charging inactivity fees. Some do it on a monthly basis, meaning that if your account is not active for a month, money is deducted from your trading account. Some do it on a yearly basis – when your account is inactive for a year, a fee is imposed.
If you keep several trading accounts yourself, then make sure you take the time to review the latest account policies to avoid being surprised by your brokerage like some of our readers.