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.
MBO Issue 21 Special Update Available Now
2013 Sep 13 Fri 15:40:48 | by
WTF Chart of the Day: Why Gold Dropped Back Down?
2013 Sep 13 Fri 13:06:04 | by
Told everyone that gold cannot go higher back in end of August until we see a retest of 1320 and below.
Here we are, gold below 1320.
Left side horizontal lines highlight the 1st quarter range in blue and range expansion at 200% in orange and 300% in pink.
Right side horizontal lines highlight the 2013 year range in pale green.
Yellow zone is such a strong resistance on first test, price has to react to it and fall back down to support, first.
Why?
1. 200% 1st quarter expansion level
2. 50% of current year range
3. original down channel bottom going back all the way to year 2012
Why below 1320 as potential support?
1. original spike low back in April
2. 25% mark of year range
3. 200% expansion of the original down channel
Chart reading can be simple if you learn to read it property.
Reminder: Rollover Day For US Index Future Contracts
2013 Sep 12 Thu 18:08:27 | by
Every 3 months we have some newcomers wondering why the market they trade somehow:
1. having such a big jump in price right after the market close
2. having a price on the chart not matching the one they have on the order screen
No need to panic. It is just the rollover from the September contract to the December one.
WTF Chart of the Day: Emini S&P War / No War Mess
2013 Sep 11 Wed 22:36:47 | by
I posted last time on what happened back in 2003 with the Iraq war.
Following is the same chart updated with swing size details.
Comparing that to what is happening now, it is similar in an eerie way.
1. First talk of military action back in mid-July 2013. Yep, you read this right, the timing is the same as the blue up arrow in the 2003 chart.
2. Same 50% pullback as highlighted by the red line in the middle of the chart.
Big Question – Rally to double top or similar target like 2003?
That we have to wait and see.
Changes to the Products and Services Guide
2013 Sep 10 Tue 13:40:35 | by
I made some minor changes and corrections to the guide so that it is more complete.
One very useful link I added there is the trading plan development guide available at babypips.com
It is one of those things I like to write about but it will take a lot of time and not necessary much better than the one you find at babypips.
At this point, the products and services guide is also a good tour guide to daytrading with enough resources linked there as a roadmap for newcomers to follow.
Paul Ekman is the real life psychologist that the TV series Lie To Me is based on. This video is mainly not about the micro expression techniques he’s discovered (invented?) to catch liars. This video is about understanding yourself, especially the e …
If you encounter problem during registration, take your time to read this article. 1. After you entered your email address and pressed the register button on the registration form, you have to check your email account for the activation/ …
Index Page Continue from Part 1 Money Management Edge Is A Function Of Leverage In laymen’s term, money management edge is simply how much money you can afford to sink into a hole and how much time you can afford to wait for a position to turn p …
An interesting video on learning. This is an interesting concept worth exploring some more. To be specific, I wonder if it is possible to break down the core elements in trading into parts that newcomers can learn more quickly and effectively. On …
I have seen this sign so many times over the years. Today is the first time I think of taking a picture of it. Just pause for a moment and think about this: 1. This is a manually updated board 2. Custom made 3. Totally functional   …
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