I got my Monday's with Monk email this morning (actually it was from Mel yet again this week--where is that Monk guy hiding?). Anyway, I found the "Trader Talk Update!" section somewhat interesting in light of my review of a Monkinar I posted last week. Check out the list of things available in Monk's trader talk vs. the list of things I mentioned that were not covered in a Monkinar (see the post this post is in response to).
I'm sure it's just a coincidence. Either way, good for them. Seriously, I hope it helps some of them get some money back in the market. That would at least be one good thing that came out of the whole FLD train wreck.
Anyway, I need to crank some posts out. Rumor has it I'm just a lonely MM (or is it hedge fund?) employee that gets paid by the post, so here's another $0.10 in my coffers (joking).
Excerpt from the Monday's with Monk email follows...
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Trader Talk Update!
Thanks for all the feedback regarding Trader Talk!
To keep the forum structured and allow us to sort through the different information with a lot more ease it will now be broken into Areas of Discussion.
These following topics will be stickied for Basic and Advanced.
1. Chart Annotations: (using rules for Basic and Advanced for each of the forums) the purpose is to annotate charts and to talk about specific trades that we see in the day. Everyone is welcome to annotate a chart and post it and let others give their comments. This way we collectively grow and different members can step-up and help new members that attend an advanced and are just starting to papertrade. We will cover entries, exits, rules, and other nuances that come up in the trading with the different SMA pairs that were taught in class.
2. Common Candlestick Formations: We will define and talk about interpreting specific candles such as hammers and dojis. We will also provide examples from charts and clean definitions for each one and focus on what you're supposed to interpret from the candle itself or string of candles.
3. Common Chart Patterns: In this area we will talk about different chart patterns that are seen such as double tops, ascending triangles, etc. and talk about what we are supposed to interpret from them as well as annotating charts to show good examples of each. Ideally we will find some occuring in real-time and be able to follow them as group and see how they play out.
4. Shorting/Puts/Calls/Trailing Stop Losses: We will cover all the different types of orders that can be done outside of our typical buy and sell. This will need to be collabrative and people who have strength in a certain area from experience are encouraged to take more of an active role. I personally would like to at least learn more about puts and calls from an educational standpoint.
5. Technical Indicators: This is where we can talk about the different indicators on our charts and what they mean and how to apply them in different situations.
6. Trader's Mentality: Physcology is very important in trading!
7. Trading Stations and Trading Platforms
8. Monkinar Notes to Share and Discuss: This thread will be dedicated to sharing notes with one another from classes. As we continue to have additional monkinars it is important for members to share what they learn with other Monkinar Attendees. Although we try to make all Monkinars the same so that everyone receives the same value, the fact is that different questions arise and different discussions take place each one depending on the attendees. Anyone willing to share their notes from a Monkinar can post it here or post a way to obtain them. Everyone's notes will be slightly different but will only help us all to make sure we are interpeting things learned in class correctly. This will be a great way to self-check one another on potential mis-interpretations of what was taught in class, something you may have missed, or something new that may have been covered.
If you have a prior post that relates to one of the above threads please repost it where applicable...we value your input!
In addition to the Trader Talk threads the following threads will be also be stickied as they are the most frequently viewed, up to date threads on potential trades.
We encourage everyone to share their potential trades so we can all benefit from them. Kudos to Sideshow, Jet Pilot, and Zach who do a great job of keeping everyone up to speed with these threads on a regular basis:
1. Sidesh0wb0b and Jetpilot's Swing Trades and Pincher Plays
2. Zach's Daily Plays
The following Threads will also be stickied and updated weekly as Zach does a great of job keeping us informed of upcoming market events and earnings releases. Everyone is encouraged to add their input here on upcoming market events and earnings release that are coming up for the following week!
1. Upcoming Market Events for the Week of: Date xxxxx
2. Upcoming Earnings Releases for the Week of: Date xxxxxxx
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