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Tuesday, October 10, 2006

Blog Readings On Columbus Day

Quite a number of good bloggings, perhaps due to the quiet trading day. *Btw as I have mentioned earlier, we have made some changes to the format of the blog & will be adding more exciting stuff here. If you have problems viewing after this change, pls let me know through the comments section, any feedback is welcomed*

The latest blogger sentiment poll for the week by tickersense is out. Slightly bearish stand, but I see alot more bloggers standing neutral compared to previous week.
Trader Mike has an excellent write-up on NRB (Narrow Range Bar) if you want to find out more after reading my earlier post.

Wall St Warrior had a great day trade today on X, go check it out. After reading his 2 trade postings last week on X, I have added X on my watchlist over the weekend. But I guess I was not alert enough today, thinking its Columbus Holiday & it should be rather quiet and so I missed the boat on X. Btw, the move on steel stocks was due to rumours that London Metals Exchange maybe starting to start trading of steel futures.

And see Daily Options Report's Adam interview with stocktickr. I HAVE to have this quote from him here:

StockTickr: What advice can you offer traders who are just starting out?

Adam: Be disciplined. Define your risk. In many respects, you make money by NOT losing money. Good days come, often when you least expect them. It is your ability to whether the inevitable bad days that will keep you in the game until then. My experience is that traders who routinely 'double down' losers ultimately get carried out; traders that halve or take off losers tend to survive.

This is what I have been telling myself as well as a few friends who have just started trading. Bear this in mind especially if you are planning to have trading as a career.

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