Sunday, July 19, 2020

On the importance of persistence in trading

Not only in trading is persistence important, of course. Or, even, very important.

In fact, I am just reading an excellent book, Big Magic: How to Live a Creative Life, and Let Go of Your Fear, by Elizabeth Gilbert, a bestselling author, and there is a chapter in it called "Persistence". That's how important it is. Incidentally, I highly recommend this book to anyone, including traders, and you can get it from Amazon through the link above.

While we at it, let me offer you a quote from this book that also perfectly applies to trading: "It's a simple and generous rule of life that whatever you practice, you will improve at."

It is trading that we are really or primarily interested in this post. Mastering trading, in particular, as it is here where sticking to it can be of utmost importance. You just need to give yourself enough time and keep working for your hard work to start paying off and your dreams of becoming a successful trader to come to fruition.

This post about persistence was partially inspired by an e-mail I recently sent to a new KING trader (or rather still a student). I did it in response to his e-mail, in which he says he is not too happy with his progress. Well, in my view, he was not doing that bad at all, especially if you take into account he had been practicing trading using KING ideas for about 3 weeks only. I basically advised him to be more patient and persistent. I wrote the following as part of my response.

The longer you stick to it the more progress you will see, but it may not be steady and that's also something to keep in mind. I strongly believe that people can do better than they think they can, but only those who are persistent. It's also helpful not to have any concrete expectations, rather the expectation of being able to improve oneself and that does happen with time, at least, for most.

If you are a beginning trader, you too may be as impatient as the next guy. We all tend to be impatient. But the tough truth is only those who can muster more patience than others stand a chance in a competitive business. It is also important to realize, as I say in the above message, that the progress is rarely steady. It may come in spurts, sometimes when you have almost lost your faith, and that's why persistence is so important. To capture the rewards of your hard work.

I write about trading matters, including things of psychological nature, on my site as well, mainly in its section called A Word of Advice, which you may want to check out too.

Tuesday, June 16, 2020

KING's special for TradeStation users

KING is an e-mini day trading course that I have been offering on my site at for many years now. Released in late 2008, it still attracts a considerable interest, though I am marketing it less and less. I intend to keep it on the market until it reaches a mature age of 15, or, perhaps even 20.

KING was designed using standard Sierra Chart indicators. A proud Sierra Chart user of many years back then, I decided that it was the best platform to implement my discretionary trading ideas for. Later on, custom indicators for Sierra Chart were released too and even earlier for NinjaTrader. Soon afterwards, custom KING indicators for TradeStation  were released too.

It's fair to say that KING indicators for TradeStation were at first not as popular as for the other charting platforms. However, this has been changing over the last few years. More and more of new KING traders embrace this platform. Some older users of KING have also switched to it. There is now a nice bunch of traders using this platform.

For me as a developer of these indicators, it is easier to work with TradeStation than most other trading platforms. One reason for that is that I do not need to re-code them (let alone extensively) with any new upgrades to this software. If only for that, I would like to grow this bunch.

If you are interested in KING, I would encourage you to look into this platform. An account with TS Securities is needed for that, but you can open it at any time. It is also, if only partially, for this reason that I am now offering a deep discount for KING to those using TradeStation.

If you are interested in this special offer (good for one month only starting June 15th as announced on Twitter yesterday), please feel free to contact me about it via email. See my contact page for my e-mail address.

Saturday, April 25, 2020

There is no safety in the market

And no safe way to trade too, which is pretty much a corollary of that. That's because there is no safety in life, in general.

The current coronavirus debacle shows this quite well, but I thought I would mention this again, mainly for the benefit of those who may believe (and many certainly do) that trading is somehow unnecessarily risky.

Sure, trading is risky, almost by design, and traders even seek this risk in order to benefit from it. Trading involves risk, risk must be part of its description if the description is to be honest. But one should not call this risk unnecessary because it simply cannot be eliminated. Even in theory. Let alone in practice.

But risky is not just trading but pretty much any kind of business. Even leaving your relatively safe house is risky because you may get hit by a reckless driver while crossing the very first street or by a tiny meteorite that mysteriously chose your head for its landing site on this glorious planet of ours.

Risk is an inherent part of life. Almost like breathing is for most if not all living organisms on this planet.

The point in life, and thus in trading too, is not to try and avoid all risk altogether but to minimize it. That explains all the safety measures, including social distancing, frequent hand and face washing, or wearing masks in order to minimize the threat posed by the pesky virus we are forced to deal with these days.

In trading too you try to minimize your exposure to changing market conditions and the risk that comes with that and there are many financial instruments designed just for that. Options or futures are the best known among those. A special style of trading that hedge funds practice, if they actually hedge as opposed to mainly chasing superior gains as it may sometimes be the case, relies on those and similar things.

How can a small time trader limit his risk? Essentially in the same manner the big boys do it. Let me mention just 3 simple and prudent ways, one of which is particularly applicable to our current situation caused by COVID-19.

1) Buying low,

2) Sizing your position (do not bet your barn),

3) Using smart strategies that can limit your downside even more.

My original stock trading strategy is based on the first and last of these points, so I think I can recommend it safely (pun intended, keep in mind the title of this post).

It is sometimes said, if jokingly, that a pessimist is a well informed optimist. Saying so may be warranted in some situations, but not too many, I am afraid, and too anecdotal to be taken seriously.

On the contrary, I do believe it does pay off to be an optimist and it is possible to be quite well informed without joining the pessimist camp.

In times of gloom and doom, it is actually an optimist that is more likely to be well informed and have a greater staying power to boot.

Be an optimist, look at the bright side of life, keep in mind that the past has proved optimists to be right time and again. But take action too when you see a good opportunity.

And speaking of the bright side of things, nothing makes things brighter than a bit of humor, as in the lovely video below, which is particularly good for these "darky" pandemic days and features one of my favorite comedians.

Sunday, March 29, 2020

"Keep going. Never give up."

These are perhaps most poignant words from the video below that features Anthony Hopkins, a man of many talents and a famous Hollywood actor to boot. I have found this video quite interesting; it's certainly worth watching not only for these words.

I think the quote is particularly fitting for these very trying times when the world is fighting a raging coronavirus pandemic that by now has claimed over 30,000 human lives across the world since its eruption in China about 3 months ago. But 30,000, however tragic this number may appear in this context, is still 20 times smaller than the number of human lives a very bad flu can claim globally in one season.

We will win. I am sure of it. It's just a matter of time. Probably a matter of weeks rather than months before we start seeing the tide turning in our favor.

If you are a trader, a businessperson, or anyone else pursuing challenging endeavors, you should keep these words close to your heart. In fact, you should live by them.

But these days we all have pretty much no other choice but to follow Anthony Hopkins' advice.

For other quotes of wisdom that not only the trader may benefit from you may want to check out this piece from an advisory section of my site.

Thursday, March 19, 2020

Hello from my coronavirus bunker

Yep, that's me again. Safe in my coronavirus bunker. Or so I think (hope).

I am sure you all know what's happening in the world right now. A bad virus (are there any good?) has been unleashed on the human world and bats or pangolins are to blame for that, apparently.

The financial markets have reacted particularly badly to that. The declines in major US stock indices over the last few days have been staggering indeed.

Now, is there any hope on the horizon? I actually think so. I think that things have been overblown out of proportion a bit. I blame the universal global (dis?) connectedness for that. Also, the fact that people love to be scared and this virus scare is just too good to pass for too many of them. Beats virtual reality and thrillers hands down.

It's not only the real virus that is spreading, humans have literally been infected with some manic virus that makes them believe that the world about to end. I am not saying that one should downplay the danger this pesky virus poses to human health, but once the most reasonable measures are implemented, there is no need to panic. Once all is said and done, the virus mortality may well turn out to be of the same order as the mortality of a bad flu virus.

Still, I hope you too are in some safe place far from large crowds. That's the main safety measure one should implement. But I am not saying that you should be staying put indoors. I go out a bit, avoiding other people as much as I can, but if you go to a grocery store, you cannot really avoid them totally.

I believe things will improve significantly in April and the second half of 2020 will be business as usual. Or not; I have been wrong before. But I'd rather be optimistic. You don't gain that much by being a pessimist. Even in this case.

Unfortunately, this virus disrupted my business plans for the first half of 2020 mentioned, for instance, in my last post here. Unless things get really bad, I will return to them in the second and third quarters of 2020. At this point, not that many can possibly be interested in what my business has to offer even if KING can do spectacularly well during volatile times. However, trading during such times is also more risky, so it may not be for everyone.

Saturday, December 21, 2019

Another KING upgrade in 2020

In 2020, KING, an e-mini futures day trading course, will be updated (upgraded) again.

The new version will include certain things that will soon be gone from one of Yahoo! groups where the original two KING mentoring sessions took place. It will also include materials from yet another mentoring session that took place in late 2010. Moreover, custom indicators for NinjaTrader 8 will finally become available.

I am planning all these changes for the first quarter of 2020. Moreover, I want a KING forum that was launched already in 2013, but has remained largely unused,  to be reactivated. This should happen in the first half of 2020, if not also in the very first quarter of 2020.

I have not been particularly active in my business this year, taking a long deserved sabbatical of sorts, but this is definitely going to change in 2020, beginning already in its first quarter. It's back to business for good. That is, for another few good years, at least.

Let me remind you that now is good time to get KING at a reduced price, an opportunity that happens only once in a while, not even every year.

Friday, December 06, 2019

Emini futures day trading course in Google

I have not bragged in a while how well my emini futures website places in Google for relevant keywords. Perhaps because I am not checking this as much as I used to when I was starting over a decade ago.

The thing is the longer your site has been around, the more likely it is to be higher in Google search results, although sometimes Google chooses to promote novelties. Or, perhaps the novelties know how to manipulate Google much better than I do, which is not that hard because I know literally nothing about it. But I do know that there is a whole cottage industry dedicated to manipulating search engines. And that some of my competitors would do almost anything to bring me down. That I did experience on more than one occasion from losers who did not even identify themselves as my competitors. Guess what? I am still around, and some are of them are not.

Here is a screenshot from December 5th, 2019 that shows my site in the 4th place from the top, not counting the two ads at the very top that pretty much spoil the view, so I did not capture them. The keyword I typed in to get this result was "emini futures day trading course," which is what my main educational trading product, KING, is really about.

(See also this post about a current special price offer for it.)

You may need to click on this picture to see it in its full glory.
Speaking of Google ads, I never check them out any more, although if I were a bit more malicious than I really am I would probably be doing this several times a day - to drive the competitors' business expenses higher, that is. Well, I guess I could be doing that, but I don't play this way. Fair play is still the best way to do business and live one's life.

I believe in organic search, so I ignore ads pretty automatically. I think most people do. Some even go as far as to use special tools that strip search results from ads or using search engines that minimize the intrusion of ads. I am still a Google fan. I don't think it has a serious competition in this respect. Yahoo! used to be a decent search engine. But nowadays no one particularly cares about anything Yahoo! does. Except old-timers who were using it already 25 years ago or so. I happen to be one of them and I even still have my browsers' starting pages set for the Yahoo! main page.

The web changes quickly; new sites rise, old sites fall. My e-mini day trading futures site has been around for well over a decade now and I am determined to make it reach its 25th anniversary. Just as I am determined to keep offering KING for another 4 years,  at the very least, until it reaches its 15th anniversary. But I also have other plans for my business and I do hope that 2020 is the year some of them will come to fruition. A forum for KING owners and a general public interested in trading e-mini futures is the most important of them. I would also like to write a book (or an e-book, to be precise) about discretionary trading and trading pitfalls and myths, again especially in the context of discretionary trading.