Today is Sunday. Regardless, I spent the entire day (from around 10am to 8pm) thinking about and working on my trading. I figure that if I have a free day with no commitments, then it would be cool to take advantage of it, so that’s what I did. I did not feel sorry for myself for not meeting up with friends or doing 1000 other things that I could be doing in and around London. I already did a fair bit of socialising on Friday night and during Saturday day-time (I “worked” on Sat night too, for several hours!!) so that’s carrying me through the weekend. Plus you have got to work with the iron while it’s hot! [Remember I know only have just over 1 year to make this all work!]
The entire day centered around working through the 12-hour “Round the Clock” webinar that London Investment week had arranged on 18th Sep. You can find the entire webinar on youtube.
I didn’t look at all the parts but tried to single out the ones that really interested me, which were:
- Tom Hougaard‘s session and several of his youtube videos as well as his blog – he seems to be spend a lot of time on the DAX – I was interested in specific technicalities comprising ABCDE (cf. 123) patterns, sizing of pullbacks, Fib retracements and extensions, DAX intraday analysis – and also on his notes regarding trader psychology. Made a lot of notes from it all. Click here for Tom’s blog site which has a lot of great material – though not updated since the 1st quarter of 2014. I just liked the manner and level of detail in which Tom presents. On the whole he brings home the message that you can’t just use a software tool or simple approach for trading the market profitably. He says he spends a lot of time preparing and staying sharp. No substitute for hard work.
- Brings home again the importance of trader psychology – enabled a bit of progress towards figuring out what, if anything psychological, might be having an adverse impact on my trading.
- David Paul – he is the mentor & coach of Tom Hougaard as well as Paul Wallace (who has been my mentor since March 2013 – he is a great coach too!) – this led to a bit of a revisit of the Relative Strength Matrix, and new concepts such as Reversal Divergence. Though most of his talk focused on stocks (and combining fundamental and technical analysis to trade them). The workshop that David and Tom used to run also mentions strategies of Lost Motion as well as “The Morning” and “The Afternoon” trades.
- I am thinking about checking out Tom’s live trading room to see first-hand how he trades the DAX – I am sure I could learn something and use it to help it refine and strengthen the way I use the EMA strategy. The trading room runs a 5-day free trial, and after that costs £175 per month – which I think is reasonable. This might be good to do this week, given that I am working from home. It would add some nice structure to my trading days. Who knows when the internet at the new office will really be ready?
- An ETX Capital (a London-based spreadbetting firm) staff member went through a trend-following strategy – which reconfirmed to me the importance of having a clear (and ideally) smooth trend when using the EMA strategy -it also touched on the usage of momentum indicators for spotting convergence and divergence. Although this was rather simple, it was actually very helfpul.
All this study led to several addition of ideas on my “Pipeline” spreadsheet. This is a spreadsheet that contains a raft of trading-related ideas.
All right, time for some dinner and then off to see a film, before I get up ready for a new trading week.