The Lawrence Chan Blog
I have diverse interest in many things from science and technology to martial arts and ancient health practices. Obviously, discussion of these topics should be done within my own blog as oppose to keeping them here. Hence my blog is created so that I can have a venue to express my creativity and thoughts on my other interests. For those of you who share similar interests, you can check out my site TheLawrenceChan.com
Due to the sheer volume of articles I have written about trading, many of which are trading related yet not technically in line with what DaytradingBias.com is offering, they have to be split from my blog into yet another site. Hence for my non-technical writings about trading, videos I have curated from various sources that I think are useful for traders and my reviews of trading related products, you can find them at the site Essence of Trading
The reason why I picked the Tai Chi picture above for this page is best explained by my article Tai Chi Traders in a World of Chaos at Essence of Trading.
Below are the old blog posts that were originally posted here. To avoid broken links from other sites, I have decided to keep them here.
The Difference Between Rich And Wealthy
2013 Dec 17 Tue 13:19:43 | by
Bloomberg has an article today on Sheldon Adelson. It describes how he (and many others) avoided paying majority of his estate taxes. It is pretty much an open secret among the wealthy families in US. For normal people, it is something good to learn about.
First of all, you know you are wealthy, not just rich, when you do not need to pay your share of estate tax,
Democrat leader Harry Reid once said that paying tax is voluntary … I guess this is what he means.
Jokes aside, once you gain success with your trading, you can too help your kids and family out without being penalized by the the system. By setting up trust funds for your kids with a reasonable stake to start with, you can trade the money in the trust fund account so that all gains stay in the trust. It is similar to having a family business and transfer partial ownership of the company slowly over time to your kids and relatives so that the tax impact will not be as damaging when the time comes.
A friend of mine does it for his niece for like 20 years now. He is still single at his mid-50s. Last time I talked to him his niece is set for life if she chooses to live off the money from the trust.
Disclaimer: I am not a tax lawyer or accountant. Be aware that tax laws varies from country to country. So seek advice from a professional if you are interested in exploring the idea.
WTF Chart of the Day: Post December Seasonal Selloff Reversal
2013 Dec 16 Mon 20:00:11 | by
Almost everyone thinks that this is an impossible reversal. Is it really that improbable?
1. Orange up arrow is 100% downside expansion of Friday range, high probability reversal price level.
2. Trend sell week last week implies consolidation play around the weekly close at 1769. Remember it is the 4 pm Eastern Time close of the stock market that matters, not the close of the index future itself.
3. Red rectangles highlight equal distance around that Friday close computed from the fact that we already have the flush completed and that the stock market was going to open above Friday high.
4. Red down arrow marks the exhaustion of the up move at the right price level – equal distance from Friday close based on the flush low, 30 points rally with no pullback in between, etc.
It is not a surprise move at all.
Amnon Bar-Lev: Computer Hacking Mature Industry
2013 Dec 14 Sat 20:17:30 | by
Amnon Bar-Lev, president of Check Point Software, talking about the cyber hacking activities.
Note: The player for this video requires java. Don’t know why Bloomberg chooses to do something like this.The bottom line:
1. Protect your computers and your data wisely
2. Do not believe your data on the cloud will be safe at all
Playing Catch Up
2013 Dec 14 Sat 14:53:40 | by
Rogers (my cable internet ISP) fixed the internet hub on my street late last night (and actually at several other locations nearby) after an obvious hardware failure event back on Thursday evening. Funny thing is that the only other choice available, Bell, was having similar problem in the same time window. Even if I am connected to both services I would still be toasted. That’s the problem with monopolistic companies …
I am looking for a cell network based backup solution for my computers. I will probably post about my solution in the near future once I put one in place. I guess there is something good coming out of this mess after all.
Originally, I’ve planned to upload various bias reports and have them all linked to the daily bias reporting in S&P Signals and Forex Signals. Since I have to deal with the aftermath of missing data, it may not progress as quickly as I like.
The custom market breadth data upload will have to be delayed for a few days too. We’ve got the old data ready, but the latest data for Friday is now messed up and we have to somehow regenerate them through tick data.
Internet Connection And Friday Updates
2013 Dec 13 Fri 20:56:29 | by
Our ISP Rogers finally fixed their problem. We’ll repair our database and upload the projections and updates as soon as we can.
Sorry for the inconvenience.
There are several things (data, new code, etc.) I have planned to upload tonight. And our Canadian’s Internet Cancer Rogers has pretty much killed our server connection. I am writing this through my cell phone. If you do not see new stuff posted toni …
I was told that the Forex Signals page has now incorporated the end of day reporting of daily biases across the 5 majors. We may have to go thru some fine-tuning here and there but the core is ready. The latest 6 premium daily biases are incorporated …
A friend of mine took the liberty of converting my latest book review into a youtube video. I was told to set up the youtube account and deal with the minor details. And, here it is. I guess it will be interesting to produce more reviews in vide …
Continue from part 3 You have now read all about the great things on bartering. I think it is time to discuss the dark side of bartering. Just like other forms of trading, there are many problematic issues making barter a bad idea. Barter Depends O …
ZeroHedge reported that Hugh Hendry has turned bullish, http://www.zerohedge.com/news/2013-12-06/hugh-hendry-throws-bearish-towel-his-full-must-read-letter It is nice to see Hugh finally see the possibility of what could be in store. Mentioned mul …
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