Sierra Chart sharing: ChartDom Entry chart

Chart DOM is one of my favourite Sierra Chart features. It gives users the flexibility to synchronize chart, and DOM. Chart DOM has all features of traditional Sierra Chart DOM, with ability to attach (and synchronized) into a chart. Sierra Chart DOM is higly customisable, and light weight.

In my trading, I always have a chart, which I call “Entry Chart”. It is a simple Footprint/Numbers Bars with Chart DOM attached. I have customized the Chart DOM with additional columns such as Bid/Ask Market Pulling stacking, Recent Bid/Ask volume etc.  The main purpose is to have a quick view of price movement (from Footprint/Numbers Bars chart), while trading on DOM.

I have attached the chartbook here. Please feel free to download, customize, and share it if you found it helpful.

You can download the chartbook HERE.

Enjoy!

Money management tool : Forex smart Tools

I used to keep my trading journal in Excel spreadsheet for years. Well, it serves the basic need, however it is time consuming and somehow, inefficient, when the number of record grows over time. And trying to find an effective way to link each trading record to screen shots is always a pain.

I started looking around for a better money management tool. I realize my time and energy should be spent on better things rather than the spreadsheets. There are a couple of money management tools in the market however, most of them are designed to serve stocks traders. Specifically, I need a money management tool for Forex trader.

I was introduced to Forex Smart tools by another trader in our private trading room. I was impressed, since then, it has been part of my trading business. Forex smart tools consists of 2 applications, Forex Calculator and Forex Trade Log.� Calculator is meant to use for trade preparation, while Trade Log is for trading journal and logging. Instead of writing a lengthy post to introduce the tools, have a look at the introduction video below.

Bottom line, if you are taking your business seriously, this is an essential tool. Serious traders know just how important it is to keep track of your trading records and journals. I am using it in my trading, and I would recommend it to all serious Forex traders.

You can find more details of Forex Smart Tools here. If you are interested in trying out the application before purchasing, a new lease/installment plan at $25/month is now available.

In addition, an extensive video library is available to help user to get started with the tool and learn more about money management skills. Here is the snapshot of the video library.

Check it out. To me, it is indeed a great tool.

Free Technical Analysis Handbook

Today more and more investors are warming to the fact that psychology moves markets and therefore fundamental analysis, which fails to properly measure mass investor psychology, must be flawed.

Who can blame them? After all, fundamental analysis — based on past company earnings, rating agency projections and the like — proved to be of little value during the bust.

There is a better way.

Many investors who monitor investor sentiment readings, study Elliott wave patterns and employ other powerful technical indicators were — at very least — able to position themselves to survive the recent decline. Still others were able to turn crisis into opportunity and profit from the volatility.

How’d they do it?

Technical analysis.

You see, technical indicators remove the cloudy, bias-driven assumptions from your analysis and focus on the one thing that moves markets: investor psychology.

Past performance is not indicative of future results — and that’s where fundamental analysis goes wrong. It fails to factor in the psychology that not only moves markets up and down but also leads analysts to extrapolate the current or past trend into the future. That’s why fundamental analysts almost always miss major tops and bottoms.

Folks over at Elliott Wave International employ the largest team of technical analysts in the world. They recognize that optimism peaks before market tops and pessimism troughs before market bottoms. They use powerful and sometimes unconventional tools to help identify psychological extremes that signal high-probability turning points.

EWI’s brand-new 50-page eBook, The Ultimate Technical Analysis Handbook, will show you the various methods of technical analysis they use every day and teach you how to use these powerful tools for yourself.

If you’re a technician, this eBook is perfect for you. If you’re a fundamentals follower, it’s more important than ever that you give technical analysis a closer look. Even if you never completely abandoned your fundamental indicators, you WILL benefit from drawing on these valuable technical tools.

Learn more about this free eBook, and download your copy here.

New toys in the office

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My two-year-old ADSL2+ modem has declared death three days ago. I was in the panicking situation…

Anyway, I decided to go for all-in-one solution, ADSL2+ modem+wireless. I go for Dynalink ADSL2+ 4-port Wireless Modem. So, instead of switching on two devices, I am having one to serve me. In addition, I just bought myself a Vodafone Mobile Broadband USB Modem. This serves really well as back up connection.  No ISP in Australia is perfect. In fact, most of them are problematic. So, instead of fighting with the fact, I get myself prepared. Well, at least, I need to make sure my trading is not affected.

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.

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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 .

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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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