Trading Tools

  • Here are the iPhone Business Apps I Use Most

    This week I'm listing the iPhone business and productivity apps that I find worth using.
    Click here to explore last week's list of the fun stuff.

    At first I wanted to create a list of the coolest iPhone apps. However, cool doesn't necessarily mean useful. Instead, this is a list of the applications that I use most. I limited myself to the top two applications per category.

    For more information about these applications, click the links to go to the developer's site.  Even if you don't have an iPhone, check-out the links to see what is
    available.  I am amazed at how much of my computing and basic research
    are now done on my phone (as opposed to laptop or desktop computers).

    Stock Market Info

    090919 iPhone Apps

    Business News

    General News

    Reference

    To-Do Lists

    Calculators

    Conversions

    Ideas

    Travel

    That's it for now.  Let me know if I forgot your favorite or you found something worth sharing.

  • Making Room for New Ideas

    How many things that you think you "know" are out-dated or simply not true?  Ignorance isn't always the problem; this video shows that pre-conceived notions pose quite a challenge.

    In this Ted Talk, called "Let My Dataset Change Your Mindset", watch as Hans Rosling uses fascinating data-bubble software to burst myths about the developing world, and how the world has developed.

    Very interesting for the content … and the analysis techniques.

    For Additional Information.

  • Making Room for New Ideas

    How many things that you think you "know" are out-dated or simply not true?  Ignorance isn't always the problem; this video shows that pre-conceived notions pose quite a challenge.

    In this Ted Talk, called "Let My Dataset Change Your Mindset", watch as Hans Rosling uses fascinating data-bubble software to burst myths about the developing world, and how the world has developed.

    Very interesting for the content … and the analysis techniques.

    For Additional Information.

  • Augmenting Reality

    090830 Minority-Report UI Sometimes new technology seems like science fiction. Other times, science fiction introduces us to new technology.

    I remember watching Minority Report and having a sense that I was watching a future closer than it seemed. There's a scene where Tom Cruise is walking through a shopping area and each time he passes a store there is a personalized ad; and in other scenes there is a "Terminator-Like" text that overlays the physically real world. That is called "Augmented Reality". 

    Well, your phone may not be as cool as that, yet; however it's getting there pretty quickly.

    The next picture doesn't look like much; but it's using the iPhone's built-in camera and GPS unit to recognize highly rated restaurants in real time. The application doing this is Yelp. This feature is
    currently hidden by default; but you can turn it on by shaking your
    phone vigorously, until the "Monocle" feature activates.

    090830 Augmented Reality

    Soon, I imagine this will be enhanced further with a discount coupons and the
    ability to place orders before you walk in the door. Nonetheless, it's
    an example of what's coming.

    Where Else Will This Be Useful?

    Imagine what this could do to the real-estate industry (as price per square foot, tax rates, etc. overlay the properties as you drive by). Or, imagine traders looking at a chart displaying the most relevant indicators, patterns, setups, and triggers for the company or market they are analyzing.  It gives a whole new meaning to real-time business intelligence.

  • Augmenting Reality

    090830 Minority-Report UI Sometimes new technology seems like science fiction. Other times, science fiction introduces us to new technology.

    I remember watching Minority Report and having a sense that I was watching a future closer than it seemed. There's a scene where Tom Cruise is walking through a shopping area and each time he passes a store there is a personalized ad; and in other scenes there is a "Terminator-Like" text that overlays the physically real world. That is called "Augmented Reality". 

    Well, your phone may not be as cool as that, yet; however it's getting there pretty quickly.

    The next picture doesn't look like much; but it's using the iPhone's built-in camera and GPS unit to recognize highly rated restaurants in real time. The application doing this is Yelp. This feature is
    currently hidden by default; but you can turn it on by shaking your
    phone vigorously, until the "Monocle" feature activates.

    090830 Augmented Reality

    Soon, I imagine this will be enhanced further with a discount coupons and the
    ability to place orders before you walk in the door. Nonetheless, it's
    an example of what's coming.

    Where Else Will This Be Useful?

    Imagine what this could do to the real-estate industry (as price per square foot, tax rates, etc. overlay the properties as you drive by). Or, imagine traders looking at a chart displaying the most relevant indicators, patterns, setups, and triggers for the company or market they are analyzing.  It gives a whole new meaning to real-time business intelligence.

  • Using Time and Price to Trade the Markets

    090830 HMG and Carolyn Boroden 216pIt is good to get a fresh perspective on the markets.

    I spent some time with Carolyn Boroden this week. I've been following her work for the past six or seven years. She has an interesting trading style, using Fibonacci retracements and extensions as well as market symmetry.  Here is some of what she shared.

    Carolyn measures various market swings, and projects likely areas of support and resistance based on where these retracement and extension levels overlap most frequently. By taking readings from various swings sizes, she is effectively incorporating multiple time frames and trading styles in her analysis.

    She is a frequent speaker at industry events, and she has a website and live trading room where she provides market commentary.

    Here is an example of her work on a daily chart of the Gold Market. 

    090830 Gold Chart
     
    Here's what she says about that chart.  Click here to watch a video she made of the analysis.

    The low in this chart was made at the confluence of a .618 retracement, 1.618 extensions and two 100% price projections  (Alternate price projections  or APP's on chart)   Now we are at a decision on the way up….to fail or not to fail….If this area of resistance is cleared…the initial upside target for gold is at the 986 area….If we fail at the listed resistance…it's a low risk sale…

    Also, click this link to watch a recent video she did explaining where she saw support and resistance off the March lows.

    Further Info:

  • Using Time and Price to Trade the Markets

    090830 HMG and Carolyn Boroden 216pIt is good to get a fresh perspective on the markets.

    I spent some time with Carolyn Boroden this week. I've been following her work for the past six or seven years. She has an interesting trading style, using Fibonacci retracements and extensions as well as market symmetry.  Here is some of what she shared.

    Carolyn measures various market swings, and projects likely areas of support and resistance based on where these retracement and extension levels overlap most frequently. By taking readings from various swings sizes, she is effectively incorporating multiple time frames and trading styles in her analysis.

    She is a frequent speaker at industry events, and she has a website and live trading room where she provides market commentary.

    Here is an example of her work on a daily chart of the Gold Market. 

    090830 Gold Chart
     
    Here's what she says about that chart.  Click here to watch a video she made of the analysis.

    The low in this chart was made at the confluence of a .618 retracement, 1.618 extensions and two 100% price projections  (Alternate price projections  or APP's on chart)   Now we are at a decision on the way up….to fail or not to fail….If this area of resistance is cleared…the initial upside target for gold is at the 986 area….If we fail at the listed resistance…it's a low risk sale…

    Also, click this link to watch a recent video she did explaining where she saw support and resistance off the March lows.

    Further Info:

  • A Trend-Following Book Worth Reading

    People often ask me which trading books I'd recommend. I've read a lot of books about trading; and though some of them are good, only a handful stand out.

    090808 Trend Following Book Cover Michael Covel wrote a couple of the trading books I consider worth
    reading. The first is called "Trend Following", and the second is
    called "The Complete TurtleTrader".

    Many books are little more than marketing for their author or an
    attempt to sell a "magic bullet" to less experienced traders. In contrast, both of Covel's books are simple enough that a novice would gain valuable information
    from them; yet there's enough content and nuance that experienced traders also will
    benefit from the books.

    I've always loved Jack Schwager's "Market Wizard" book series. Covel's books are different than these because they deal with a narrower subject … more deeply.  Yet they are similar in terms of the value-added content they provide and how accessible they are; and that's high praise from me.

    Covel has an engaging writing style. He keeps things interesting by telling stories rather than simply providing a mechanical "how-to" textbook.  You get enough narrative and detail about accomplished traders to give you a sense of their personality, thought process, and some of the key ideas and distinctions that help make them successful. In addition, he backs-up his research with lots of data, charts, and links to additional information.  This makes it easy for you to continue on your own.

    What is In the Trend Following Book?

    The "Trend Following" book:

    1. explains the basics of trend following;
    2. introduces you to the some of the great trend following traders;
    3. explains the positives and negatives of the technique from a
      performance standpoint;
    4. shows how trend followers did during big
      events, crashes, and panics;
    5. and the later part of book focuses on the
      human-nature side of trading, decision-making and building trading
      systems.

    I like how Covel segments his books logically, and in bite-size chunks.  That means I can pick it up and read something without feeling compelled to start at the beginning and read all of it at once.

    For example, I just opened Trend Following (to page 253) and saw "Five Questions for a Trading System". In this section he lays-out things to consider when evaluating a system.  Examples include how the system determines which market (and how much exposure) to trade, as well as what constitutes entry and exit triggers? Then, in addition to explaining the basics, there are examples and quotes from other traders about the topic.  And he extends the discussion to include emotional issues like how much money you intend to make, the level of time and effort you intend to invest, and the strengths and weakness you bring into the equation.  Bottom-line, he goes out of his way to give you a thorough
    understanding … while getting his points across in an
    easy-to-understand, informative, and interesting ways.

    I found myself referring to both of these books several times in the past several months. If you're looking for something to read (or for some new ideas about trading and money management) I recommend you check out these books.

    090808 Covel's Movie Intro Other Links:

  • A Trend-Following Book Worth Reading

    People often ask me which trading books I'd recommend. I've read a lot of books about trading; and though some of them are good, only a handful stand out.

    090808 Trend Following Book Cover Michael Covel wrote a couple of the trading books I consider worth
    reading. The first is called "Trend Following", and the second is
    called "The Complete TurtleTrader".

    Many books are little more than marketing for their author or an
    attempt to sell a "magic bullet" to less experienced traders. In contrast, both of Covel's books are simple enough that a novice would gain valuable information
    from them; yet there's enough content and nuance that experienced traders also will
    benefit from the books.

    I've always loved Jack Schwager's "Market Wizard" book series. Covel's books are different than these because they deal with a narrower subject … more deeply.  Yet they are similar in terms of the value-added content they provide and how accessible they are; and that's high praise from me.

    Covel has an engaging writing style. He keeps things interesting by telling stories rather than simply providing a mechanical "how-to" textbook.  You get enough narrative and detail about accomplished traders to give you a sense of their personality, thought process, and some of the key ideas and distinctions that help make them successful. In addition, he backs-up his research with lots of data, charts, and links to additional information.  This makes it easy for you to continue on your own.

    What is In the Trend Following Book?

    The "Trend Following" book:

    1. explains the basics of trend following;
    2. introduces you to the some of the great trend following traders;
    3. explains the positives and negatives of the technique from a
      performance standpoint;
    4. shows how trend followers did during big
      events, crashes, and panics;
    5. and the later part of book focuses on the
      human-nature side of trading, decision-making and building trading
      systems.

    I like how Covel segments his books logically, and in bite-size chunks.  That means I can pick it up and read something without feeling compelled to start at the beginning and read all of it at once.

    For example, I just opened Trend Following (to page 253) and saw "Five Questions for a Trading System". In this section he lays-out things to consider when evaluating a system.  Examples include how the system determines which market (and how much exposure) to trade, as well as what constitutes entry and exit triggers? Then, in addition to explaining the basics, there are examples and quotes from other traders about the topic.  And he extends the discussion to include emotional issues like how much money you intend to make, the level of time and effort you intend to invest, and the strengths and weakness you bring into the equation.  Bottom-line, he goes out of his way to give you a thorough
    understanding … while getting his points across in an
    easy-to-understand, informative, and interesting ways.

    I found myself referring to both of these books several times in the past several months. If you're looking for something to read (or for some new ideas about trading and money management) I recommend you check out these books.

    090808 Covel's Movie Intro Other Links:

  • Wolfram’s Alpha Knowledge Engine

    I use Google without thinking.  It is a habit or a reflex.  That is about to change; at least for some types of information.

    They call it a "Computational Knowledge Engine" – but my tests tell me it does a lot more than what that means to me.  For example, here is a comparison of Accenture and IBM.

    090515 Wolfram Alpha

    Here is a link to a brief demo.  Take a look … I bet you shake your head and smile.  Progress is a beautiful thing.

    It does a lot more than calculate how many days you've been alive, amortize a mortgage, or tell you the flying time from Dallas to Paris.  Apparently the folks at Wolfram have a sense of humor too.  Here are some example searches that demonstrate that:

    Here is a summary of some more of the hidden tidbits from Mashable.

    Strangely, it doesn't know what a "computational knowledge engine" is … I guess that makes it more human.  It is easier to know lots of stuff than to be self-aware.