A Couple Miscellaneous Links...

Here's a quickie post with a couple miscellaneous links of interest I happened upon this week.

The first is a link to a new trading system which I have begun to experiment with. I found it on Ken Wolff's daytrading website, MTrader. This is a top-notch site focused primarily on daytrading, with a great educational section. The system is called the Catman system, and details about it can be found here and here. Catman's system is very much a common-sense based system, and though not entirely fool-proof (no system truly is, and anyone who tells you otherwise should not be trusted).

I am experimenting with the Catman system in all three of my accounts, namely the trading account, the IRA, and the 401k. In doing this blog so far, I've learned it's important to have a defined system and stick with it, one that gives clear-cut signals of when to buy/cover, sell/short, and avoid. It also helps to take the emotion out of the process. The Catman system appears to function well in multiple timeframes (as would many systems).

The tentative plan is to use the Catman system with daily/weekly charts with the indices in my 401k (I have a lot of index funds in my 401k). Likely, I will use the system with daily/weekly charts of individual stocks and/or levered index ETFs in the IRA. As for the trading account, I will probably try to use intraday charts for daytrades and multi-day trades in the indices and individual stocks. Most likely, I will be sticking with the indices and associated leveraged ETFs in all three accounts for the time being and eventually ease my way into individual stocks in daily and intraday timeframes.

I'm still working this out here, but I think it's quite promising.

The Market Speculator on his blog is presently doing a once-a-week series about how to effectively manage time as a part-time trader. I'm just putting a post here to provide a link to what he's done so far because it's really quite insightful. He's done two parts so far, and they can be reached below.

Part 1

Part 2

That's about it for now.