Books I Read and Follow

If you read these books, do not read it like a novel, study it, like you have a board examinations.
The first book I read was "How to trade in stocks" by Jesse Livermore, first, I read it like a novel, since it was very amusing, his life story, after a year around 2009, I re-read it again, and I have found that, Livermore was telling something, I followed it, including his record keeping. I do not know how many times I have re-read it until I believed I knew what his system was. The sitting tight, the pivot points and the time element and psychology of trading. Thus born, my 2009 Livermore quotes in  AP ,AEV ,DMC ,URC ,PX ,PAX ,SCC , SECB runs, even when the Gurus were bearish.

Second interesting book was The Complete Turtle Traders and Trend Follower by Covel. In which the Green signals was derived. Psychology books "trading in the Zone" by Mark Douglas is a must and so with "Trading for a Living b A. Elder.

I bought this at Power Books

I bought this at Borders in Los Angeles

All these, plus market experienced and observing quietly from the best Margin Caller  I have ever seen.

About Shorting P6

Shorting a market is good, but it all depends on what the market has to offer.
Problem with PSE rules shorting can only be done intra day, meaning you have to sell it before the close.
Shorting is also prohibited in the pre-open and re closed. Between 0931 to 1159 only.

With this set up, I find it high risk, especially if you have large positions. Just for coffee positions is not a problem, ( No need to brag about them either)

Example. You shorted xyx at 1.36 for 1M around 1135 AM as one poster in FM said.
and at 1150 the tapes said

Bid                                          Offer
1.36 1M                                   1.37  100,000
1.35 1M                                   1.38     10,000
1.34 1M                                    1.39     5,000

1 million cannot be adsorb by the market, so what will happen, the price will shoot up at the close due to short covering. That is why someone commented, when the ticker stops, the price was 1.30 and when it resumed after the market has closed it was 1.40.

In my experienced in short selling P6, my holding time is only 10 minutes and I earned about 6%.

That is real panic . Not catching tops. Since time is limited the best way to maximized profit in shorting, add the Intraday High plus low, divide it by 2, add 2 to five flucs, that is your selling price.

Compute this in your selected stock price last Friday, you will be surprise with the result. This tricks are for gamblers only.

CYBR Six 4

Just do not forget your stops.

My observation over the years. If there's a large move on significant news, either favorable or unfavorable, the stock will usually continue to move in that direction. I felt very comfortable buying the stock, even after its large price move, because the numbers were very strong. Richard Driehaus. Market Wizard.

BEL ringggggggggggg 8

Tasuki debate again??? Just do not forget your stops.

http://www.candlesticker.com/Cs65.asp

LND 5 This Land is Mine

Before

After, just do not forget your stops

AUD JPy Shorting 4 Aftermath

This is pure price system, No news, No hype, just the ticker and me. Same with my trading in P6, there is nothing special about it.

"If you believe it likely to have a definite bullish or bearish effect marketwise, don’t trust you own opinion and back your judgment until action of the market confirms your opinion because the effect marketwise may not be pronounced as you are inclined to believed its should be." Livermore

AUD JPy Shorting 3

Water falls keeps on going..... Just do not forget your stops.