Thank you to all those that wished my Dad well for his prostate cancer treatment in Melbourne.

His operation went well and hopefully he is on his way to a great recovery.

I am back on the Sunny Coast and have spent the last week testing signal generating software that we have been working on.

Programming is expected to be completed with a working version next week.  Just in time for the Brisbane ATAA meeting.

Getting some good entries and setups. 

As a sneak preview here are some entries that have signaled lately with the beta version.

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6E signal.jpg (96.64 kb)

Consistently executing a well planned trading style is the key to trading success.

The skills are not learned easily to achieve this.

Hours of review and practice is what sorts out the few winners from the many losers.

The practice required needs to be efficient with replay practice of the days events and print outs of specific areas that require review.

It is easy to get lazy fooling yourself that watching the ticker move up and down and listening to CNBC playing, that you're doing focused research.

Think about what professionalism you would expect of someone trading you're money.

Study the key areas where the unexpected occurred.

How did price move around key zones?  Where did price fail and reverse? Where did price exhaust?

Learn, fine tune, and become an expert.

Here is a little shameless self promotion for my wife Jackie.

After dealing with my trading accounts around the globe for 10+ years she is putting her skills to more use helping others to navigate those areas that I never want to go.

Fast Accounts is a bookkeeping and accounts service that provides specialist services for share traders and self managed superannuation funds.  The business is owned and managed by my wife, Jackie Clarke, who is a qualified accountant and has had 10 years experience providing bookkeeping and performance reports for my trading business, as well as managing our SMSFs.

Did you know you may be eligible for a GST REFUND?  If you operate your trading as a business or have a SMSF, Fast Accounts can help you determine if you are eligible for a refund, determine how much it is and arrange all the paperwork for you. 

Do you want to spend less time on the paperwork and more time on your trading?  Fast Accounts can collate all your trading records, work out your trading profits and provide invaluable statistics and feedback on your trading performance to help you improve your results.
See Jackie's website at www.fastaccounts.com.au or contact Jackie on 0438 019 212 or admin@fastaccounts.com.au if you would like to know more.

Trading against a trend move is an addiction that just keeps taking.

 From all that I've seen in trading the one thing that nails even the best of traders is getting caught trading against a trend move.

The strong emotional desire to get a trade back to break even is usually the catalyst that drives destructive behavior.

Two things tend to occur, the trader holds a structurally deteriorating position as reality and belief in the traders mind diverge.

The other destructive behavior which tends to result in catastrophic loses is the adding of positions as price moves against the position.

This is an attempt to create a lower break even price.

At times the strategy works but creates the environment for the trader to suffer massive losses down the road.

We get wealth transfer as the chips are pushed away from the inexperienced to the experienced.

For these strong trends there has to be an unexpected move that catches out the majority.

Often on the SPI200 a strong down trend happens after the US markets have closed strongly.

Today is a great example as the SPI trended down not allowing longs to get a break even opportunity.

As the longs closed thier positions they where in effect selling, adding to the downside momentum.

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