Friday, July 9, 2010

The Month Update - New Ideas, Computers, & Success?

Just a quick update here. First off I finally finished my new trading (& gaming hehe) rig yesterday. What can I say... ATI Eyefinity kicks ass. I'm going to get a LOT of use out of this new system. Its so nice to have something that nice and snappy, runs flawless, has 69" of HD screen space, and monitors that don't flicker on and off at will.


On the job front i've been applying at multiple prop firms in the greater Chicago area trying to land a "Junior Trader" or "Assistant Trader" position at a firm. Anyway I slice it i'm in a rut here in Omaha. Professionally, personally, financially - I need a drastic change. If anyone knows of firms looking to hire or job opportunities out there give me a shout!

On the subject of trading. Awais has been yelling at me for years about just trading off S/R and simplification. I'm making a concerted effort to do just that. I trade with 1 line on the charts these days and nothing else. The only reason I use that one line is to gauge momentum of a trend (i'm looking for steep fast trends to trade in). Beyond that my trades are bare bones simple - support coming resistance and vice versa. The result? Solid on sim (aren't they all?).

But the honest to god truth is once I started looking for this stuff something clicked and I have started to "see" this happening everywhere. I honestly think my ability to read price action has gone up about 1000% in the past two weeks. And that's in no small part to having no distractions on my charts. My only concern is that my risk:reward is a bit better than 1:1. However my win rate is above 75-80% thus far. We'll just have to see how it develops.

Anyhow, thanks for checking in and your continued interest in seeing i'm not dead, down, & out just yet.

Cheers!

24 comments:

E-Mini Player said...

Now that's a proper trading setup! Good luck :-)

Black said...

I always picture myself with a setup like yours man! Anyway, keep blogging and all the best to your trading!

ANON said...

Love the setup! Hoping to get something as thin and large as that someday.

Anyway, I used to have a 5 monitor setup (a whole motley set of monitors with two laptops--12" and 17"--two 17" crts and a 20 or 21" sony crt). It was crazy, and really heavy. Haha. And it does help.

But there were times when I'd take my 12" ibook out to trade on the town (needed a break from the stuffiness). It's funny, but one of those days I was out I made a relative shit load of money trading the ES.

I loved my setup, but it couldn't always beat a nice atmosphere and solid trading :)

Best of luck!

Risk Control Master said...

nice computer.. what are those 6 little black boxes under the screen? speakers?

Matt said...

RCM - Yea those little black boxes are 7.1 surround sound... because who wants to trade in silence right?

ANON - I agree about the atmosphere your trading in. I use to work in the basement until I said f-this and moved upstairs and now I work right next to a big window and have lots of nice sunlight and a view.

YM-Trader said...

More power to you (I hope) on that fancy array of screens. Awais is right about trading off S&R, too. Keep it simple. I continue to manage with a single 16" monitor after 3 years of full time YM trading. Honestly I don't know what I'd do with all that screen space other than fool myself into thinking I needed confirmation from 6 other windows before I ever entered a trade that had a 5 second window of opportunity. I'd probably never get a trade off. I realize I'm saying this without having any idea what you're trading. I only trade YM and nothing else, Maybe you are into multiple markets. If so, kindly ignore this.

Pedro Garcia Millan said...

HERE'S A DIFFERENT KIND OF REALITY IN THE U.S.A. THAT PEOPLE TURN A BLIND EYE TO BUT AFFECTS THEM DAILY AND WILL EVENTUALLY KILL SOCIETY AS YOU & I BOTH KNOW IT UNLESS WE STAND UP & STOP THEM!
===========================================

PART 1

THE U.S. CITIZENS HAVE THEIR BRAINS SCRAMBLED VIA FLUORIDE IN THE WATER & ALL THE ASPERTAME THEY CONSUME IN POP DRINKS, BUT THERE IS MORE.....

You see, Bush Sr., & Jr., Clinton, Regan, Carter, Obama, Ford...ALL these presidents are in what is dubbed a SECRET SOCIETY called The Moloch Axis Demoniacs (i coined the phrase myself...Dr. A.P. and i don't use my full name because WHO knows WHAT sinister crap they'd do to me IF they found out?) or M.A.D. for short.

These people, and there’s obviously more of them (Cheney, Rumsfeld etc.) than the ones mentioned, control KEY positions not just in government, business, society etc. They are GRADUALLY erroding MORAL/FAMILY VALUES in society. SO gradual that it's like hairloss! You see it ever so slowly and you have to be a keen eye to boot!

For example, women in the workforce...they go to work so WHO takes care of the kids? Some goofs getting minimum wage who could care less about those kids. Family split apart because NOW both parents work and the cost of life itself purposely increased to perpetuate this separation. Kids grow up with NO moral/family values. Repeat this a few generations and before you know it, you have mindless zombies that don't know RIGHT from WRONG! Easily programmable to get in debt, be anti-christ-like etc.

Also, the coming mark of the beast 666. Remember HOW it all used to be ca$h only? Then they introduced checks, then credit cards to get yourself in serious financial troubles, then ATM cards, and now that STUPID SWIPE-PASS card. What is the purpose of all this? To get people broken down enough and stupid enough through putting FLUORIDE in the drinking water and ASPERTAME in soda drinks/pop cans so we ALL can accept the 666 chip. So NOBODY can buy or sell or own ANYTHING lest he has the mark of the beast (anti-christ) which is 666.

I can go on for days & days as to the subtleties and more examples but i think you all SEE the points i make here. It's all SUBTLE and GRADUAL negative changes day in & day out that these M.A.D. demons (because they are demonic and have placed their trust in demons in exchange for their souls and material possessions here on earth) are passing into laws in Canada, USA, UK, SPAIN, FRANCE etc.

Gump said...

Yeah, but I got one set a great teeth! Hoga-noga!

Mustang said...

Sweet rig! What are the specs on that baby?

Brenda Elkins said...

Sure hire is without any doubt an option

Matt said...

Are you still trading? I am also young and aspiring. Shoot me and email.

Matt

Gump said...

Michael, what happened to the comments?

Anonymous said...

How are you doing on your journey. I've been trading for a year and a half now, getting more comfortable with the market. Your journal is interesting, I just stumbled upon it today. Do you plan on entering any other discussions? Thanks for blogging and I look forward to returning to check on your journey.

Gump said...

Michael, you need to be able to accept criticism if you wish to succeed. The positive strokes from the fellow losing blog traders are only helpful to the ego, the main enemy to proper trading.

Mustang said...

If you are still trading, check out www.ezalternativeincome.com. It's a great resource for some naked trading.

Harry said...

Hi, Nice post! I noticed a broken link on your site. Please email me back and I would be happy to point it out to you.

Thanks!

Harry
harry.roger10@gmail.com

Johnny Castillo said...

DUDE THAT IS ONE FUCKING SICK SET-UP! REALLY!

Johnny Castillo said...

leave me a comment sometime

www.johnnycastillo.com

Futures Day Trading said...

it's having good information for research analysis.I have enjoy it so much! thanks for giving me a good reading moment!

nitu mishra said...

Here’s a good article on 2012 Q4 earnings outlook.
http://tinyurl.com/investing006

archie mishra said...

Thanks for providing new ideas and updates about the market but I still relu on intraday tips for trading.

archie mishra said...

Thanks for providing new ideas and updates about the market but I still relu on intraday tips for trading.

archie mishra said...

Thanks for providing new ideas and updates about the market but I still relu on intraday tips for trading.

Michael said...

After 5 years you're still getting comments!

Hope you're doing well Matt! :)