Jumat, 29 April 2011
Have They Moved Your Cheese?
Well, the speed of information and peoples' reaction to it is making itself felt with volatility changes. I am finding that I need to change the size of my range bars much more often. I also change the sensitivity of Flo in line with what I am seeing. The basic methodology does not change, but by making these range bar changes and how aggressive I am in my entries I find that I am reacting to the now.
This highlights the necessity for a structured methodology. As I have chronicled over and over, I have two basic trades: inside out and outside in. My inside out trades are trades where I have identified a change in trend and trade the pull back. The outside in trades are leaning against support and resistance and identifying order flow failure. It is that simple. I said "simple", not "easy". By putting a structured checklist and identifiable pictures into my trading plan I am carrying out something that is measurable and quantifiable and thus repeatable consistently. I use Flo to leverage these things.
Not really working today - the Royal Wedding is making London into a party town and I'm going to Italy for the week-end with Mrs EL. Monday will be quiet with the May Day holiday in Europe, but let's see if there is something happening. I'm again going to be doing some video blogs starting next week, going over charts to show the day's trades.
Welcome
To make sure you keep up to date with all the latest news and updates, sign up to this blog just over on your right hand side. Pass it on to all of your design buddies to help us spread the word.
To register your interest in selling your products at Kids Style Hub, just head to our "Show Your Interest" page.
Happy Designing!
Nicole Herrick
Kids Style Hub
Kamis, 28 April 2011
Bernake Day was Over Hyped
I think that having the conferences is, on balance, a good idea. It will tell people what to expect and make smoother markets and provide good trading days when something significant is said and the market rebalances.
I started the London morning mostly on the short side with both the ES and the Euro. I had an early meeting with a student but Flo was @ work while we were talking and all I had to do was override as appropriate. In the trades below I manually exited the first trade as it was "wrong" from the outset, which is fine as Flo did her job. The next two shorts were Flo on her own as was the last one which Flo scratched, losing a tick on a BreakEven stop. All in all, a nice morning in the Euro.
Rabu, 27 April 2011
Beyond Claiming Your Place Page
Last week, we invited a group of public relations and social media professionals to Google Austin to introduce them to the range of features offered as part of Google Places. Most of the attendees were experts on the basics (for instance, claiming a Place page), but many were surprised to learn about the other ways Google Places can help them connect with their customers.
The Dashboard
Once you’ve claimed your Place page, you can see detailed analytics on a handy dashboard, including information on the number of time your Place page was viewed (impressions) and the search terms your customers use to find you:
Ratings and Reviews
Customers can rate and review the places they go through Google, offering valuable feedback about what they liked and didn’t like about their experience. This information appears on the Place page for a business. Business owners also have the ability to respond to those reviews publicly — a great way to engage with customers and show you’re listening to their feedback. Once you claim your Place page and you’re logged in, you’ll see the option to respond to individual reviews.
Sharing Your Expertise
Beyond encouraging customers to rate and review their businesses via Google Places, attendees at our Austin Tech Talk also discussed how they could set up their own Google Places profile for their business to rate and review, as a way to show their community involvement and local support. Here’s what came out of a brainstorming session:
- Restaurants could rate and review local farms, farmers markets, and artisans to show that they are using local ingredients.
- Hotels could rate and review local attractions that may be of interest to their guests, or use their profile to provide their concierge with a “cheat sheet” of useful info.
- Gyms could rate and review local restaurants to point out the healthiest menu items for their members so that they can reach their fitness goals.
These were just some of the many ideas that were shared!
Google Places Business Kit
The most talked-about topic of the night was the Google Places Business Kit, a box of info and schwag that business owners can request, detailing how they can better interact with their customers on Google. Some of the items a business owner can request include after-dinner mints and Place pin–shaped coffee stirrers, to remind and encourage customers to rate and review that business on Google.
What are some of the ways you’re using Google Places to connect with your customers? Learn more by visiting our Google Places Help Center.
Posted by Whitney Francis, Austin community manager
Europe is on Vacation
Don't expect great volume this week. The stock markets are celebrating good earnings. I'm enjoying the moves but glad I'm not a long term investor. Today's Ben show will be interesting. Strange to see the U.S. Fed copying the European Central Bank (ECB). Maybe some more will rub off, although it seems to me that the so called strong dollar policy is a myth, as I think I've said before. Week dollar makes imports to the U.S. expensive, exports cheap and allows the U.S. to repay debt with cheap dollars. I'm not sure that I'd stick all my wealth in the Euro either. I'm a Gold bug going back to the late 1970s. Gold at $1500 looks expensive, although priced in Euros it's a bit cheaper. I guess diversification is the answer, but that's saying "I dunno what to do". The jury is still out and I'll have to make a decision soon.
Selasa, 26 April 2011
Anatomy of a Trade
At about 7am the Euro suddenly dived down a nice 17 tick move. I wasn't there. I immediately checked to make sure Flo was on as she didn't react. Yes, Flo was OK. It was so fast that I couldn't trade it manually and it didn't meet Flo's requirements. No trade for me. As the market was very quiet, I had clicked down to a 3 tick range bar.
Then just as quickly, the market retraced back to the EMAs. At about 7.24 am I suddenly found myself LONG the Euro. I HADN'T EVEN SEEN THE TRADE until it had triggered and alarmed. Within minutes, Flo had exited on the first scale and then exited on the next two scales. I had no real context to use except further above the market, so I left it all to Flo.
This is why I am Hybrid Trading.
Planning the future
Senin, 25 April 2011
A 35 million year losing streak
I have long believed, as I have written in this blog, that it is the exits that are responsible for a big part of our profitability, probably more than 50%. What's my evidence? Well, most of my losing trades were in profit after I have put them on. It is rare for me to put on a trade that goes into the red the very next tick after I put it on.
Minggu, 24 April 2011
BRANCH CODE -PUNB0200900,ITWARA BAZAR HOSHANGABAD.
Kamis, 21 April 2011
Winding down to a long weekend
I was a bit long ES during it's trip into the resistance and then short against it the first time, although there were not a lot of points in either trade. Yesterday I tweeted the two resistance areas. The first one held yesterday during RTH but broke during my night. Some good trades for my friends in Oz.
Mid morning I quit as the sun was shining and I had to talk to the gardener, who wants to cut some dead trees down. Not a big issue as we have a couple hundred trees and are planting more, but I enjoy the process of looking after the property. It was here long before I was and will be here long after I'm gone.
One particular tree that we have to cut down is the favourite of a woodpecker, but it's in an area where it could fall on someone if there is a big wind, so sadly woody will have to find a new tree. We just love the sound of him tapping away.
The afternoon in the ES was not too interesting, the market trading between the two tweeted areas.
Rabu, 20 April 2011
Next Stop: San Diego, California
Every day, more and more users are looking online for local information — where to eat, where to stay, where to shop. Online is where business owners need to be too. So for the past several months, we’ve launched marketing campaigns promoting our core local product offering Google Places in five cities: Portland, Austin, Las Vegas, Madison and Charlotte. In each of these cities, we’ve been working closely with local business owners, showing them how Google Places can help them get found on Google and connect them with their customers.
We’re excited to announce that the next campaign is hitting San Diego, California, today — our largest city to date!
With more than 77,000 local businesses, San Diego is the perfect next city in our campaign to help local businesses get noticed on Google. Plus, with nearly three million residents and more than 30 million tourists visiting the city annually, we see a great opportunity to help locals and tourists alike share and discover great San Diego businesses online.
Over the next several weeks, we’ll be working with business owners in a bunch of ways:
- A team of Google reps will be visiting businesses with information about how to claim their Place page and keep their information up to date. They’ll also highlight how business owners can encourage their customers to rate and review their business on Google and share those recommendations with their friends.
- Business owners who have verified their free Place page can request a Google Places starter kit. Visit googleplacescatalog.com for more information. Part of this kit is our “Recommended on Google” sticker, which utilizes NFC technology to enable users with smartphones, such as the Nexus S, to see more information about that business and easily rate and review it right then and there.
- Businesses eligible to participate in a beta for Google Boost — our online advertising program — will receive $100 coupon offers to get started.
If you see us around town, say hello! We look forward to working with San Diego’s amazing community of business owners.
Posted by Sameer Mahmood, Local Marketing Team
Pat Cash needs lessons too
Anyway, the reason for mentioning him is that he was doing his CNN program talking about clay court tennis and in one segment he had another ex champion teaching him how to better play on clay. Even champions need continuing education. Trading is something that most of us can get better at. Better technique is usually what we are after when we have reached CP. New ideas are another. Whether it's a course, or a new book or talking to good traders, it's important to keep on studying the markets and not get complacent in our success. The moment I do, the market teaches me that I'm not that smart. And so it should.
I traded a few markets with Flo today. The London morning was where the money was for me. See the Euro Dow 50 pic. When the ES opened in RTH, price was so far from value that activty was locked. As we approach NY lunchtime, buyers and sellers are still facing each other with their pistols in their holsters. I'll leave Flo to work while I'm headed outside with Mrs EL and a glass of wine.
Helping America’s startups grow
To further help new American businesses create economic growth, today we’re announcing a commitment of up to $100 million to the Startup America Partnership—an alliance of the country's most innovative entrepreneurs, corporations, foundations and other private sector leaders—for companies to promote their business with Google advertising over the next year.
Startup America participants will be able to use Google advertising platforms like AdWords and Boost and receive a $1,000 Google match for $1,000 spent between June 1, 2011 and June 1, 2012. Our chief economist Hal Varian has calculated that businesses make an average of $2 in revenue for every $1 they spend on AdWords, so we think this commitment will be especially powerful.
If you are (or know of) an entrepreneur that’s interested in getting involved with the Startup America Partnership, you can visit its Resource Center for more information. Our goal as a participant in this national initiative is to help entrepreneurs grow amazing businesses, and we believe our commitment will help them do it.
Posted by Claire Hughes Johnson, Vice President, Global Online Sales
Selasa, 19 April 2011
Thoughts of the ES
Working the ES with Flo is continuing to be a profitable enterprise. I find that I'm leaving Flo on auto a lot of the time as I just don't have the focus and energy to sit there from 7am London until 9pm. It's too long a day. I'm still tossing ideas around on whether it is better to trade bigger for shorter hours. I am coming to the conclusion that I should manually override when I am sitting there but that I should let Flo trade solo when I'm not, as the activity in the markets doesn't always align with my clock and there are some great moves that appear at any time of day. Volatility just bursts and then Mr Newton's Law takes over and Flo does her thing. Stopping trading at a daily profit target seems to be wasting a good day. Still not sure about this.
Kiki and I are working on these ideas together over Easter and beyond and I'll report more if there are any useful conclusions we can share.
Today's ES was fairly straight forward. The pic shows the day.
Senin, 18 April 2011
Hybrid Trading - Today's Euro
Hybrid Trading is the answer to many of today's trading requirements for many traders, both less experienced and expert. BTW, the plain bars are the result of coding some of the orderflow info to help me visually manage the hybrid trading - still testing this.
Minggu, 17 April 2011
Saturday Testing...
We got to FAR at 10:15 We missed the Garvey space launch by 20min. Breakfast so was not worth it.
Historically every liquid test/launch conductor says they will go at 9 am and inevitably it happens around 12 or 1. This was a relaunch of the vehicle they flew two weeks ago and everything went according to plan. It jsut means I'll have to get up earlier next time I go to FAR.
For our test we broke off the fuel feed fitting, probably from all the handling in the last two weeks. We have stopped bringing the kitchen sink with us so we had no spare. A 1.5 hour drive into California city and back nets us a usable fitting and a lunch in air conditioning.
We were very careful in loading propellants to get proper wieghts for the oxidizer and fuel going in and leftover fuel coming out after the test. This should allow me to calculate a good ISP number combined with the load cell data.
The test ran for several minutes and from my perspective was perfect. The motor had a bit more hum than last time, I suspect the cat pack might be getting loose from being compressed, and cooled, but it operated perfectly.
Another test on the May 7th (the next FAR day) and I'll declare the cat pack issue resolved and start working on motor tuning for max ISP.
Jumat, 15 April 2011
An Update on Tags
Going with the Order Flow
Range Bars are a very different type of bar chart to most of the others, as they ONLY look at vertical price development.
The chart below is a 1 tick range bar chart but with the indicators based on a 3 tick range bar chart. This is not to be confused with multi-time frame trading, because I am trading the trend of the 3 tick range bar, but by "magnifying" the bars I can see and time my entries in a more granular fashion, especially in these less volatile times.
Kamis, 14 April 2011
Just When....
Well, I got another chance as the elevator went back down. But not before I sold it too early. There's a trade a little more on the left that was a loser - I sold way too early and couldn't hold the small pop up. I then turned Flo on and took the trade you can see. I then turned Flo off, as I wanted to trade manually and just sold every pull back. The last trade was a small loser as I was at the party too long, but that's OK. The move was so strong, any pull back could have been the end of the move.
Rabu, 13 April 2011
Everything Old is New Again
I had decided that there was enough time left for the market to take out the low. In the end it didn't but it did rotate down again to below 1308.00, which was my cover point. My logic was that the worst that could happen was that there would be a neutral day and I would sell that too. I started with a 10% position and ended up at 60%. It looks like a risky play unless you believe in the Profile, which I do. I consider trading neutral days are like money for old rope.
The key to this particular trade is to manage the risk with trade size. Added to that is that my vision was for a series of down days. It doesn't look weak this morning. As I'm writing this with the ES back up at 1317.50 and I've been trading the ES from the long side. At this moment and it's now 7.50am NY, I'm still looking for a down day, but am looking at the gap between yesterday's high and the previous day's low. I'll continue writing this later, at NY LUNCH TIME.
Well, I sold the top of the Gap - low of day before yesterday at around 1317.00 a bit before RTH and took them back all the way down to the top of yesterday's VAH. The rally back up to the top of yesterday's high was another sell spot as the order flow upwards ran out of steam. I covered down to the VAH of yesterday again and waited to sell another rally, to 1313.00 as I didn't think it would go higher if the Profile was right. There was no rally, so I sold a 50% position at 1312.00 with a view to adding at 1313.00. It didn't happen and I covered all the way down to just above the POC of yesterday at 1309.75, which happened to coincide with my fav Fib. And that's how my day ended.
Selasa, 12 April 2011
Newton's Law
This law really tells me that once price starts moving, it will keep on moving until something or someone stops it. Sounds very simple and logical. Why am I even writing this? Well, I'm writing this because traders often don't look at this aspect of the market in both placing trades and exiting them.
Fractal pivots (FPs) are a great example of this. High and low FPs are where stops are. Sometimes this is where my fav Fib point is too. Why do some of these work and others don't?
From my observation, it is because a break of these FP's in the direction of the new trend will give continuation, while a break against the change of trend will be a failed breach and the fav Fib works. This can be a trading system in itself.
When I woke I the ES was already down. I traded the DAX for a while but it was thin and the market action was more weird than usual. After making enough to pay for breakfast, not lunch, at a Mickey Ds (if there was one here) I waited for RTH.
The market tried to close the Gap, but failed and a trend day down began. Flo was in her element. I'm still trading the ES and will if the trend down continues. See the pic.
Senin, 11 April 2011
I Make the Most profitable Trades When.....
There are just two scenarios for trading profitably: catching the breakout as it is happening or reacting to the breakout after the event, either by joining it or fading it.
I guess this is why people find trading difficult. Trying to "predict", I think, is a fool's errand. I might as well just toss a coin.
Different markets have different fingerprints and therefore resolving the above is better done in a way specific to the particular market. That is not to say I use a different methodology but that I apply my techniques to fit the market or the phase that the market is in at the time of the trade.
A market that is in balance has not much opportunity. A market out of balance is where the money is for me.
Typically, I wake up in the morning on London time and look at, say, the ES's overnight action in relation to the RTH close. If the market has come a distance from that close, I then look to identify if order flow is still taking it away from that close or not. I look for support and resistance areas near to where the ES is then. As soon as I am at one of those areas then I am looking for what the order flow is doing, that way I can either join the move or fade it.
I have a natural inclination to fade it, as that's what we did on the floor but I fight it and try to make a proper identification of what's happening. If I can't, and that is sometimes the case as the market is thinner at that time of day, I'll fade the move with a half size at that support or resistance so I can quickly tell when I am wrong. If I'm wrong, I can turn my position around and if I'm right then I make my profit on a smaller size.
The ES today started with a loss and then I got in synch. The Profile was a help, especially after range extension down when I only looked for a short.
Jumat, 08 April 2011
Spring has Sprung....
A few good moves in the ES pre RTH and post RTH. Before RTH began, I tweeted that my ES range for the first part of RTH was 1336 to 1329. It has done that and now we'll need to see what's next. Seems like plenty of opportunity in the ES again.
Kamis, 07 April 2011
A new way to share local product availability with your customers
When you provide Google with local product availability data, your Google Place Page will now automatically include a new section, ‘Popular products available at this store’, featuring five popular products along with price and local availability. For shoppers unfamiliar with your business, this section shows the types of products available in your store.
If shoppers are looking for a specific item, they can click ‘Search within this store’ to search your product inventory to see if a particular item is in stock nearby.
To automatically display local product availability on your Google Place page, you’ll need to first share local availability data with Google through a Merchant Center account and claim your a Google Place page. For instructions on sharing local product availability with Google, read this Help Center article. Learn how to claim your Google Place page here.
Google and Ink from Chase launch 5-city seminar series for SMBs
Every day we hear from business owners who think they need special skills to reach new customers online. Often they’re just overwhelmed by the seeming complexity of online marketing options. So they sit on the sidelines, eager to get in the game, but confused about where to start.
Sound familiar?
Google and Ink from Chase have teamed up this year to help small business owners get off the sidelines and into the game! As part of this commitment to helping small business owners, we jointly hosted the first Google-Ink from Chase ‘Grow Your Business Online’ event on March 15, 2011 at the JP Morgan Headquarters in New York City.
Over 200 Ink small business customers attended the program, living proof of how an incredibly diverse array of small business touch our lives every day - from chocolate shops to online gaming and private medical practices. The evening featured welcome comments from Richard Quigley, President of Ink from Chase, expert advice from AdWords evangelist Frederick Vallaeys on four ways for SMBs to market their business online and also included the Nuyorican Poets Cafe’s executive director, Daniel Gallant, talking about how online advertising helped their business grow.
One small business owner remarked that the tools and tips from Google experts on how to market small businesses online gave her “a new perspective of how to reach out to customers.” Another attendee found the Google Places page so compelling he went back to his business afterwards and “immediately verified my business’ Google Places page.”
Posted by Ria Tobaccowala, North America Small Business Marketing Team
Times They are a Changing, Always
It seems that the mixture of HFT activities and the reduction in volume have resulted in lower volatility. I would have thought that the lower volume would have made the markets more volatile, but that does not seem to be the case. The withdrawal of market participants from the fray and the more immediacy of the markets has needed another adaptation. However, the basis of my trading - inside out trades (join the trend on a pull back) and outside in trades (find tops and bottoms when S or R has been hit with order flow reversal identified) has not changed and I can't see how it ever could.
The basis of markets are written in stone. Techniques to identify and take advantage of the order flow will and do evolve slowly as technology advances to give us that information faster and more clearly. I still spend about 15% of my week learning and researching. This has to be an ongoing process until my last trade.
Today is Interest Day in Europe. Today could turn out to be an own goal by the ECB and/or Bank of England. Are we inflating or is the recovery too fragile for interest rate increases? I somehow think that the need for people to eat and for governments to rebuild are not impacted by interest rates. However, businesses ability to expand and hold inventory is impacted by rates.
Today I continues my scalping in the ES. Chart shows the trades. The sequences you can see are all outside in trades with scaling out. Sometimes I can only get one scale in and then have to exit and reverse. It's still an outside in trade when that happens, but a late entry because of the previous position. I give the market a chance to make me money.
Rabu, 06 April 2011
Click. The AdWords newsletter: April 2011
|
Sacrifice Your Potential
Not all pictures and setups are created equal. Some are surer than others. I have shared my view that one of the most critical paths to CP must include a high win rate. Not JUST a high win rate, but to include a high win rate in your trader's profile.
There are many ways to achieve a high win rate. One step you can take is to leave your stop loss out of the way and double down if your initial entry was too aggressive. But this approach is not for everyone. We each have different risk tolerances and different funds available in our trading accounts.
So how can a high win rate be more comfortably parlayed into CP?
The solution we discussed with my student was to isolate pictures that gave not only a high win rate but a low Maximum Adverse Excursion (MAE) - trades that don't give you much heat. Trades that provide instant gratification.
Those trades exist and with proper back testing they can be found.
OK, we now have such a picture. The next thing to lock down is how much money you need to make, to begin with, when you go live. Let's say $200 per day. Let's also say that your back testing found that there are usually 10 trades a session that meet your requirements, and they have an all out target of 5 ticks.
Problem is that to achieve maximum profitability, the required stop loss is too large and if you use a tighter stop then you stop yourself out of what should be profitable trades. This is where you must Sacrifice Your Potential.
All you want to achieve in step 1 is $200/day. The solution I offered is to tighten the stop so that you sacrifice these possible winning trades in order to achieve a lower draw down and base the TP on these trades that provide Instant Gratification - No Heat - as long as there are enough of them to provide the magic $200/day.
Yes, you get stopped out of "good" trades but you meet your goal. So the structuring of your TP ends up with you getting, say, 10 trades of which you stop yourself out of 6 with either a tick profit or loss and make your day on the other 4 trades with again, say, 1 loser and 3 winners. So you convert your high win rate to a low loss rate. Once you have satisfactorily completed this step 1, you have lots of choices- either trading more contracts as finances allow or be prepared to loosen your stops to allow more winners.
Structuring a TP can be more complex than first meets the eye. The starting point must be your goal - a specific goal not necessarily related to a magic earnings number. Reverse engineering your TP to meet your goal is often the way to go. Without the TP aimed at your goal you may achieve the very event that you are so hard trying to avoid - losses.
Today's chart is again the 1 tick range bar of the ES. Outside in trades. I have been working on an outside in scalping system and this is the result. Very cool and I can trade some decent size without sacrificing profitability. I started just testing this with an algo for manual trading but it is fast becoming a sister to Flo in its own right. The key is that the yet unnamed algo enters the trade and has optimised scale outs but I override as I see fit.
Selasa, 05 April 2011
Think with Google: Search Ads Affect Offline Sales, too
Trading, trading
Free phone support for AdWords advertisers
We’ve worked hard to keep in touch with our AdWords customers and we’re always looking for new ways to support you. Currently we offer email and online support, and today we’re introducing free phone support for all of our U.S.- and Canada-based AdWords customers. When you have a question about your account or advertising campaigns, you can now call an AdWords specialist if you prefer.
We’re adding phone support for a simple reason: you asked for it! You told us that while you appreciate online resources like our AdWords Help Center, you also want the option to get live, expert support when you need it. We heard you, and got to work assembling a team of AdWords experts to answer your calls.
The new phone option is one of many tools that can help you succeed with AdWords—and (most importantly!) find even more customers. You can also email us, or learn from other advertisers in the AdWords Help Forum. Our AdWords Online Classroom offers free online courses on a wide variety of AdWords topics, from the basics to great tips to take your account to the next level.
To speak to one of our specialists, give us a call at 1-866-2Google between Monday-Friday, 9am-8pm Eastern Time. This number is for current AdWords advertisers only, so please make sure you have your customer ID ready. We look forward to speaking to you and learning more about your business.
We'll roll phone support out to advertisers in other countries in the coming months.
Posted by Francoise Brougher, VP, Global Advertising and Product Operations
Senin, 04 April 2011
Stop/Exits - Biggest Cause of Losses
The DAX this morning was trendless in the 3 tick range bars. It was a matter of just fading every swing. As I was jobbing around, I was thinking about who was on the other side of my trades and it reminded me of how people react to price rather than to order flow. Understanding what is happening - context - is such a big part of trading. This aspect is very difficult (impossible?) to correctly program into an auto trader and hence my advocating Hybrid Trading (HT). Nothing beats a trader with discretion, once he knows what he's doing.
There was not much joy in the ES during RTH. It spent the London afternoon filling in the "cave" of Friday's trade. There was just about 5 ticks to be made as it ranged up and down. Pretty boring, which I guess is good.
Jumat, 01 April 2011
Classic MP Trade
My vision was for strength. Money is pouring into the stock market and the jobs report did nothing to change that.
ES RTH opened way above yesterday's VA so the Gap trade was the order of the day, but not with a view to actually closing the gap. There was that lovely double VAH of the last two days to aim for, and that is what I did. It happily coincided with my fav Fib. X-mas had arrived. That was trade #1.
Price became oversold and orders flooded in at around the 1326.00, which is where I made my stand too. I would be wrong if price was accepted into yesterday's VA and the Fib failed. "Accepted" means accepted.
That second trade ran up to my Fib spot and it was "ching, ching", then I was done for the day. Sun is shining here in France so I'm going to stick my face into the sun.