A blog post and something about stocktwits

I read a recent blog post on TraderFeed. This caught my attention, echoing my mind.

Traders need to develop ways of seeing markets that are unique to them, that make sense for them, that fit their risk tolerance and lifestyle, and that best make use of their skills and talents. Simply giving traders ideas could actually stunt their development, much like doing a child’s homework for them.

An important challenge in trading is that there is typically more valuable information streaming from markets than a single individual can reasonably process on their own….

full post here.

That is the main reason why I hardly, or never use service like Stocktwits. OK, I am not against Stocktwits. It is a brilliant idea from some entrepreneurs. But, is it really useful for trader’s development? Well, Caveat emptor. Personally, I do not find it to be useful for my own development. To me, it is just a stream of random tweets, good or bad of so called ‘trading ideas’, valuables and junks, marketing of premium services, repeated links etc.  But, this is just me. I believe, some users are finding it to be helpful to them. By all means, go for it. I’ll leave it to you to decide, and please, do not try to argue in the comment why I am wrong. I don’t care.

Instead of wasting time following somebody, I guess, it will be better off for trader to be away from social networking, and develop his own view, own way of seeing markets.  With that skills, then the streams of tweets might give you some good ideas.

Video about trend analysis and market timing

Here is an video produced by Adam about currencies trading and how do tools from marketclub help to analyze the trend and time the your entry. Pretty good stuff. Check it out.

marketclub

Links : Metatrader & MQL4 development

When I first started looking into automated trading system development, particularly in currencies trading, Metatrader is always one of the candidates. The main problem with Metatrader , in my opinion, is without reputable broker. No, not another debate about Forex brokers. When your account grows bigger you will have more concerns over these issues.

Back to ATS, one of the reasons I like Metatrader is that there are full of free resources (craps as well) around the internet. Here are some links that I’ve found over the past weeks during my program development.

Enjoy! And Happy New Year. Here is to a prosperous 2009.

Work in progress

My ATS (or should I say semi-ATS) programming work continues.  Expert advisor of my Really Dumb Trend Catch system has been running since early this week, well, of course, in demo account. It is doing what it is supposed to do. So, not too bad, I am happy with it. I am working on setting up email alert system now. The basic idea of my semi-automation is to run the system at home, alerts me via email, so I can enter and manage my positions from office.  This is essential to me since Metatrader connection is blocked in my work place. At the same time, the system is also taken care by my private full time trader at home — my wife! 😆

Here is the work flow of my semi ATS .

semiats

Here is the example of my trading screen now:

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On the side note, I have just received my executive office chair. Pretty cool and comfortable. Now, I can trade from home , in the bossy mafia style…:lol:

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Bargain to share…

My frequent readers know I am using Market Club tools (trend analysis, data, charts, news, trading videos etc) in my trading, example here and here. I am glad to know that Market Club is now running a 3-day promotion which offers new subscribers 2 free months to see the tools that helps me in my trading. It is certainly worth to check it out.

In addition, INO TV premium is adding dozens of top experts videos.  Have a look.

These are good tools, and I am using them, and I am recommending to my readers now.

Tools for trader I: World clock on your desktop

If you are trading Forex like me, you should have some experience searching of world clock or time zone on Google. What is the time in London now? Has Japanese market closed now at Melbourne time 3pm? Forex is a 24-hour market, and volatility moves along with major market sessions. So, it is handy to have a world clock sitting on your desktop.

I have been using Qlock World clock since I started trading Forex and Futures. Living in Asia, and now Australia, I need to be aware which market is opened when establishing position.

Qlock World clock allows you to set up individual clock for each city of your choice, and even setup alarm. (So, not only for trader, you can use it to make sure you ring your love ones to say ‘Good morning, darling’ at the right time 🙂 ). Here is the snapshot of my desktop.

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There are free and paid versions of Qlock World clock. With only $14.95, the professional version comes with Integrated RSS feed reader, Daily FX rates, Sticky notes, Automatic program updates, Multiple desktop profiles etc. Check it out.