Dear Blog Readers,
I continue to receive positive comments about the market updates from last month, in which I posted observations about market participation (who is in the market), trends/ranges, sentiment, and volume distribution in real time. (Here's an example). The goal of these updates was to encourage short-term traders to think about markets in new ways, integrate historical research, and find ways of trading with an edge based upon hard market data.
Having taken on a new writing project, I am no longer able to conduct the updates on a daily basis. Because of the continued interest of readers, however, I'm starting an occasional feature that I'm calling "A Morning With the Doc". On those days, I will share my market homework and and track the market in real time with periodic updates on the blog. If I have positions in the market (which I don't every day), I will make these known and will share the rationale for those positions.
When I was supervising psychiatry residents and psychology interns at a medical school in Syracuse, I found that the most effective means of supervision was to have the young professionals sit in the office with me and help me conduct my therapy sessions. They got to see me work and I got to see their efforts. To my surprise (and delight), they learned as much from my mistakes as from my successes--and I became a better therapist just by knowing that my every action would have to be explained.
So let's try it out with trading. I'll make some great observations and trades and some pretty bad ones. If we're lucky, we'll learn from each other and from the experience.
The first Morning With the Doc will be this Wednesday, October 18th with postings before the market open. The focus will be the S&P 500 Index trading, but I will be referring to the NASDAQ and Russell as well and will be tracking key sectors. The Morning should be relevant for day timeframe traders who follow either the index futures or ETFs. As always, there will be no registration and no fee.
Look forward to having you there. Details will follow on the Trading Psychology Weblog.