My Favorite trading movies are Trading Places, Boiler Room and Wall Street. I have yet to see Limit up... If you know of any others tell me! Each of these movies will give the beginner an understanding of different sides of trading. They are cheap and entertaining while also being valuable sources of info.
As far as books go these have served me well.
Television
I don't mind watching CNBC and Bloomberg, but only for background noise and entertainment. I do not base any of my trading by what I hear on that or any other financial show. And for God sake don't listen to these financial Gurus!! If these people knew what they were talking about they'd be out there doing it, not on TV faking it. They are simply salesmen that get paid to plug companies. I do not like JIM CRAMER and I have heard that roughly 60% of his trade recommendations go sour after they air. In fact I think he is a very good counter indicator. Just do the opposite of whatever he says and you WILL make money.
Heroes
First, my main hero above all is my best friends and wife Rosina. If it were not for her COMPLETE support and belief in me I would not be doing this right now. Thank you my love!
My trading heroes would have to be those traders who I've heard or read about that lost their entire stake 2 or 3 times and felt like giving up daily before finally making it. It helps me to realize that many successful traders have made some big mistakes. It is their passion about trading that keeps them going.
About me:
LET ME FIRST SAY, THAT THE TITLE "EYE OF THE TRADER" IS NOT A SPIN ON "EYE OF THE TIGER"... THE EYE OF THE TRADER IS HIS INNER EYE, THE ONE THAT WATCHES HIMSELF FROM A DETACHED STATE THAT ENABLES HIM TO BE "IN THE ZONE". THAT IS THE GOAL.
THE INCOME POTENTIAL IN THE FINANCIAL MARKETS ATTRACTS A LOT OF ATTENTION. SADLY, THE STATISTICS PUT THE AVERAGE LIFESPAN OF A TRADER AT JUST AROUND A YEAR, WHILE RETAIL FOREX TRADERS GO BROKE SOMEWHERE WITHIN 45-60 DAYS. BUT PLEASE DON'T LET THOSE NUMBERS SCARE YOU; THEY ARE AFTER ALL STATISTICS, AND NOT A GUARANTEE TO FAILURE. THERE ARE A FEW DISTINCT DIFFERENCES BETWEEN THOSE WHO MAKE IT AND THOSE WHO DON'T.
FIRST OF ALL DISCIPLINE. DISCIPLINE IS THE CORNERSTONE OF SUCCESSFUL TRADING, BUT YOU WILL NEVER ACHIEVE THAT DISCIPLINE UNTIL YOU GET REALISTIC ABOUT THINGS. YES, SOME OF THE RICHEST PEOPLE IN THE WORLD ARE THOSE WHO INVEST AND TRADE IN THE FINANCIAL MARKETS, BUT IF YOU'VE COME TO THIS PROFESSION LOOKING FOR SOME WAY TO GET RICH OVERNIGHT OR WITHOUT MUCH EFFORT YOU'VE COME TO THE WRONG PLACE. MANY TRADERS (MYSELF INCLUDED) WILL TELL YOU THAT THIS IS PROBABLY THE HARDEST JOB OUT THERE. THERE ARE DAYS WHEN THE MONEY JUST FALLS INTO YOUR HANDS, BUT OH, THOSE LOSING DAYS ARE A REALITY CHECK TO THE DIFFICULTY IN THIS BUSINESS.
SO WHO AM I AND WHY AM I HERE? AM I ONE OF THE MANY PEOPLE ON MYSPACE THAT SEEM TO HAVE CREATED A PAGE JUST TO GLOAT ABOUT THEIR TRADING SUCCESS, YET SHOW NO PROOF OR EVEN DISCUSS THEIR METHODS? NO. DO I HAVE A TRADING ROBOT THAT SUPPOSEDLY MAKES ME TONS OF CASH, YET FOR SOME CRAZY REASON I NEED YOU TO BUY IT FROM ME? NO! AM I SOMEONE WHO GIVES VAGUE EXPLANATIONS ABOUT THINGS I SHOULD BE EXTREMELY DETAILED ABOUT? NOOO! I'M JUST A NORMAL PERSON WITH NO SECRETS TO SUCCESS. I AM NOT AN EXPERT AT ANYTHING I DO, I'M JUST FORTUNATE ENOUGH TO HAVE FOUND SOMETHING I'M PASSIONATE ABOUT. I'VE HELD ON TO THE DREAM OF TRADING FOR THE LAST 9 YEARS OF MY LIFE AND NOW MY PERSISTENCE IS PAYING OFF. AM I RICH? NO, NOT YET, BUT I CAN SAY THAT THE JOURNEY I HAVE BEEN ON HAS MADE ME WEALTHIER THAN JUST ABOUT ANY PERSON I'VE EVER MET. FROM WHAT I SEE NOW, I KNOW THAT SUCCESS COULD HAVE CAME YEARS EARLIER, BUT MY SO CALLED "MISTAKES" HAVE LED ME TO A BETTER PLACE IN LIFE.
Unlike other people or sites you may see, I am not here to sell you anything but the notion that if you honestly WORK hard you can trade for a living. You see, I and many others who trade already know that there are no secrets to success. In fact I am perfectly comfortable disclosing exactly what I do because I know the average person simply won't do it anyways. The AVERAGE person is too busy wishing and day dreaming to get their hands dirty discovering what works for THEM! I'm here to help others develop the proper understanding of themselves for success and to provide as best I can, support for those who are serious about making progress. The place to start is by CLICKING the
where you can easily navigate all my posts. All the knowledge I have to share with you will eventually be there.
Although I have been involved in the markets in one way or another for 9 years now, this is my first year as a full-time trader. (thanks to my best friend and wife making the time available to me) I have been studying myself and the markets for years, but the truth is, it doesn't necessarily take YEARS to learn, it takes GETTING SERIOUS. So if you are serious, I would like to help you.
I day trade the currency markets exclusively; I like Currencies because the transaction costs are low and its the most liquid market there is. As far as my trading regimen goes, I am not one that needs to be trading all day, I am perfectly content getting 10 pips a day and quitting. That means my time spent ACTUALLY trading lasts between 5 minutes to a few hours. My methods are always subject to change as I search for what is possibly the best for me or what suits the current market conditions. My goal is to only post information that is new and will contribute on a measurable level to my readers.
If you wish to contact me outside of myspace, you can e-mail me at (orion_machine@yahoo.com). Please be patient in waiting for a response.
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Who I'd like to meet: I'm interested in meeting lots of different people. I would prefer that they are open minded and exciting and positive thinkers. Not so interested in meeting people who want to pay me to teach them because they are too lazy to learn for themselves! It doesn't get much better than what I offer you for FREE!!! Also, just had my baby boy 6/16/08!!!! He is so amazingly awesome!!
I see u got an addition to the famlay! congrats on that! Am just sharpening my T/A skills right now! Keep an eye on AOGN and FRGY this week, they could be movers! what u been up to?
I was just going through your blogs and I'm completely enthralled that there is someone else in the world who understands the concept of psychological trading. This is the reason why so many people fail because they tend to follow their emotions. I will be commenting on several of those blogs when I come from GNC later. Going to buy some meal replacement shakes. I have a 12 mile run later tonight in Central park : )
Ahhhhhh, what a day, what a day, what a day. I wonder how many traders closed their firm accounts around the country today and left forever? I cannot positively fathom the idea of people going long in this kind of environment. You even know how much money was lost today thinking the sell off was going to reverse? Hell.....
Congratulations on the birth of your son! I am really happy for you and I know you are in the loving embrace of your family right now as always. A wonderful and happy family life will make a well rounded and professional trader. I know she doesn't know me but wish your wife a congratulations for me.
The rounded version of the MM is: 21, 33, 55, 87, 129. The scale is: 1S, 2, 3, 4, 8, 1M. This number of pips to reach each target are: 1200, 1100, 1066, 1050, & 1012 the average of which is 1085.6 or 1086.
The volatility is rediculous and most stocks that I trade that have .10 - .75 spreads between the ask and bid now have over 2 dollars. Especially POT lol
Cool. Yeah, I have 2% locked in on it, so I'll probably just leave it sit through NFP. I'm actually expecting the news to be dollar positive, but I'll just sit tight until the market decides what is what.
Jean Claude 'Tricky' Trichet is the head of the European Central Bank... he's the guy responsible for the 186 pips the Euro moved between 8 and 9am. I got stopped out at breakevens in a couple of pairs (GBP & CHF), and got long EUR at 1.5484 currently sitting very green and pretty.
Keep up the great work! This goes to show that just because you made a mistake, it doesn't mean that it will define your success from then on if you don't let it! You are wonderful at what you do and I am proud of you!
You have a great perception of not only the market but of your own skills as a trader. This is so important because I always see so many novices treat the market like an enemy and/or blame themselves for their mistakes.
UTVG reported a so so Q1 but it was expected since their biz is seasonal with Q2 and Q3 being the strongest. The CC was horrible lol but if it goes below $2 i will be adding crazy
I think maybe tomorrow I'll go to the bank and cash in your check!!!! I truly believe we will be able to soon enough! I am proud of you and I'm sorry if I say it a lot but I can't begin to tell you how proud I am!
Its true what you said, we are a special breed...damn traders. We can procrastinate over things like washing the car or vamping up the MySpace page, but when it comes to trading and the almighty dollar, we don't joke. The message you sent me in regards to Jim Cramer was really enlightening. I always knew that the man was off his rocker both in personality and stock recommendations. I agree 100% about what he said and what you said that you watch CNBC purely for the background noise and entertainment. My firm has multiple television sets mounted on columns near the ceiling pointed downward. We watch CNBC religiously but I always find myself laughing over the sarcasm Rick Santinelli has when he's on the floor of the NYSE. CNBC and Fox (The Simpsons, American Dad, and Family Guy) Is this a typical trader personality? lol
Thank you for the comment yesterday. It means so much to me. I love you too and I am sorry for any negative feelings.You are the most important thing in my life.
