How To Plot Volume Bars on Index Charts in Thinkorswim

I’m currently studying William J. O’Neal’s CAN SLIM Investing System. The M refers to Market Direction. Determining whether the general market is uptrending (bullish) or downtrending (bearish). O’Neal writes on the importance of monitoring both price and volume changes of markets. The best way for you to determine the direction … Read more

Fibonacci Retracement Levels for QQQ & Magnificent Seven

To start the trading year I’m reviewing Fibonacci retracement levels of the NASDAQ 100 and the underlying Magnificent Seven. NASDAQ-100 (QQQ) Starting with a 4-year QQQ weekly chart. The low was set in March 2020, and the high during the final trading week of 2023. On the news of rate … Read more

Risk Management, Stop Strategy, Eliminating Impulsive Trades

One broad theme from my 2024 Trading Principles is risk management. Specifically refining my strategy for using stops, and eliminating impulsive trades. Stop Strategy I’m basing my stop strategy on Market Wizard Bruce Kovner’s approach: Whenever I enter a position, I have a predetermined stop. That is the only way … Read more

My 2024 Trading Principles

As I prepare for 2024, I’m reflecting on what worked well in 2023, and what I’d like to improve upon in the new year. Instead of setting “trading resolutions”, I’ve come up with trading principles and a system for following them. The system is a note in Notion which contains … Read more

Identifying Early Trends

Chris Camillo, a trader featured in Unknown Market Wizards, has a trading edge based on identifying early trends. Here is Chris in the book: I was a very early investor in National Beverage Corporation, which is this weird company in Florida that manufacturers La Croix, and La Croix accounts for … Read more

Unknown Market Wizard Peter L. Brandt

Last month Jack D. Schwager released book #5 in his Market Wizards series, Unknown Market Wizards. The first book in the series, Market Wizards was published in 1989. Nassim Taleb said the following about the original book: I’ve read Market Wizards at several stages of my career as it shows the staying … Read more

Hope is Not a Strategy

I learned an important lesson from trading this year: hope is not a strategy. If you enter a trade that goes against you, and it keeps going against you, hoping that the position will recover is a losing strategy. The hope trade may work once, twice, even ten times in … Read more

Nasdaq Futures Analysis: Trending Days

I define a trending day as a day in which the Daily candle for an NQ futures contract has a range of greater than 300 points. A daily candle’s points range is measured as the difference between the high and low values occurring between 18:00 to 17:00. 68 Daily Candles … Read more