As you allready noticed, i'm not updating this blog anymore. As of today i also removed all affiliate links and banners from this page. There are several reasons for this.

First, i started trading to get rich and failed. After 4 years i was able to make a living in trading, but the price was high. I never got rid of my emotions and if you have ever traded your own real money you might know how it feels loosing the profits of several weeks in just one day of overtrading.

I also learned the hard way that money is probably the least important thing in life (yeah i know tell that to someone in the bread line - but i've been there too, believe me).

On my way i met many friendly people who helped me along. A big thanks to amg, merlin, mbh, midknight, rabitt, randy, buffy, fox, nort, tehbla, ingo and all the others i forgot.

i'm not coming back. if you want to know why watch Lets make money
if you don't want to know why watch it anyway. pretty please.

get lucky
sput

Here's my list of books i'd recommend to any trader.

No matter which market you trade, what timeframes you use or how much experience you have, these books are worth the money.

In no special order:

Mark Douglas - The disciplined Trader

Mark Douglas - Trading in the Zone

Brett Steenbarger - Enhanciong Trader Performance

Brian Shannon - Technical Analysis using multiple Timeframes

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)

Please note: I'm in now way affiliated with Brian Shannon, alphatrends or his book.

Lets make it short: If you are serious about trading, buy this book. In my trading career i read well over 100 trading related books, and no other comes close to this gem. It does not matter what market you trade or which timeframe you use, you will profit from the wisdom Brian Shannon collected. Follow the link below to learn more.

The book is only available from http://www.technicalanalysisbook.com/

Last monday it happened again : I was in a bad mood and my plan was to work on my new photoblog and just watch the market for a while without taking any trades.... but to quote John Lennon "life is what happens while your busy making other plans" that did not work out. After 15 minutes i was short in the DAX and stopped out a few seconds later, after 1 hour things were looking really bad and at the end of the day i gave up 50% of the profits from the last 2 weeks.

The market pays you for being disciplined, and i paid for loosing self-control. Occasional overtrading is something i need to get rid of and so i did some research on psychology and
Continue reading "Do you have self control ?"