Trading What I See

A weekend trip was unexpectedly extended. Since I have no access to my charting software there will be no commentary tonight. Should be back Wednesday or Thursday.

Lowell

Family medical emergency. I’ll be out of town for a while. Post again when I get back.

Lowell

Tomorrow Dr. Brett Steenbarger is having another “Morning with the Doc” real-time trading session on his TraderFeed blog.  Check it out.

And I was having so much fun with Fibonacci in today’s wrapup I forgot to point out the beautiful triangle pattern on the 15 minute Russell chart.  It should break tomorrow.  Do a search in the right Sidebar for Triangle to see how I measure triangle targets.

Some of the best trading experience you can get is by watching an expert trader at work, and you can have that opportunity with Dr. Brett Steenbarger on Wednesday morning. Every so often he will use his blog to analyze the market in real time, including any trades he makes.

I’ve gained a lot of insight watching live action by traders such as Linda Raschke, Don Miller, Teresa Lo, and of course Brett Steenbarger. After he had a “Morning” on Halloween, I e-mailed him saying we had taken identical trades (both entry and exit) for entirely different reasons.

Although Brett and I have very different trading styles, I read his blog daily. And I completely agree with his comment from last week:

Teaching a person what to look for in a market is quite different from illustrating its recognition in real time. Many chart patterns, for instance, are far more recognizable in retrospect than during their formation. Live training is key to every performance field, from athletics to the elite military. Why should trading be any different?

Take a look over his shoulder Wednesday morning.