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.
Julia Galef: Look at a Problem as an Outsider
2013 Oct 1 Tue 20:03:35 | by
Another way in looking at Ms. Galef’s other video on The Sunk Costs Fallacy.
Being a trader, if you find that you are failing to make money in trading, or that you could not improve your performance further. You need to take a step back and really evaluate yourself as an observer or an outsider.
Sometimes there is only so much you can do to improve on a trading method that has limited potential.
Think of what you have missed during the day.
Have you written down any notes about them yet?
Do you notice that some of them recurring yet you are not comfortable in trading them?
Why you are not comfortable?
Can you make yourself comfortable by trading them with sim trading or confirm your gut feeling or observations with backtesting?
Think outside of what you think you know at this point.
There is always room for improvement in our lives.
MBO Issue 22 Available Now
2013 Sep 30 Mon 16:56:23 | by
WTF Chart of the Day: US Government Shutdown Play In Forex And Indices
2013 Sep 30 Mon 13:34:13 | by
In case you are not familiar with US government shutdowns, it has happened before and it is likely to happen now.
The last shutdown on record was 1995 November 14 to 19 and then 1995 December 16 to 1996 January 6.
What happened to Emini S&P500? Not much really.
What happened to the majors? Wow.
We are talking about several hundred pips each.
You’ve been warned.
Fundamental Change In The Oil Market (And Other Markets) Are Coming
2013 Sep 29 Sun 9:33:49 | by
China announced its aggressive plan of the Free Trade Zone (FTZ) in Shanghai today. The zoning of FTZ was approval back in July but no details were available at the time what the plan entails. More details are now disclosed with the announcement this time.
Key activities allowed in FTZ:
1. Foreign entities will be allowed to invest more freely in Chinese markets
2. Some kind of more flexible currency exchange mechanism
3. International oil future trading platform
Point 1 and 2 are obviously facilities designed to enable point 3. If the oil future contract is going to be settled in Chinese Yuan or Russian Ruble, even partially, the impact will be huge. This is the last piece of key economic construct that China needs to completely bypass the US dollar for international trading not involving United States.
Should this happens, the premium on US Dollar will be slashed significantly as Asian countries will no longer need to transact in USD for majority of their international trades.
The immediate impact, however, is the brave new world of Asian session crude oil trading. Be ready.
Sources:
Reuters
http://www.reuters.com/article/2013/09/29/us-china-ftz-idUSBRE98S02K20130929
Yahoo
http://news.yahoo.com/china-adjust-loan-deposit-ratios-banks-shanghai-free-072927597–sector.html
Software Update Over The Weekend Sep 28-29, 2013
2013 Sep 27 Fri 12:44:44 | by
We will have some software maintenance and update over this weekend. Will likely be done on Saturday in the afternoon or late in the evening. My guy who work on the website will keep you all posted.
Jim Cramer on TheStreet, http://www.thestreet.com/story/12027849/1/cramer-jump-on-jc-penney.html ZeroHedge quotes his words with sarcastic comments, http://www.zerohedge.com/news/2013-09-26/how-lose-32-jim-cramer-three-weeks-jump-jc-penney that’s …
Malcolm Gladwell, author of Blink and other interesting books, presented a very interesting investigation he has completed on college students and their collective behaviours. What does this has to do with trading? From the moment you are hooked …
I am asked many times for information about the performance of individual retail traders. It is a difficult question to answer because without actual data it is not possible to compute a norm or identify the characteristics by various categories. The …
Bernard Lietaer is the person whose post-graduate thesis at MIT back in 1971 formed the basis of the modern floating currency system. He is the author of the book The Future of Money (out of print) which detailed the potential problems of the system …
Due to unforeseen circumstances, I can no longer follow my regular schedule. My best guess is that I will continue to post whenever I get the time. I do check emails twice a day just that I will not be able to reply to them quickly. For now, this n …
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