Xspurt: If I am duplicating this post please forgive me as I am still trying to learn how to operate this site. My laptop is somewhat eratic at times. Thank You for the valuable information. I beleive my journey is leading me to a more simplistic approach of the markets. I'm now focusing on PRICE ACTION and investigating that approach. One of the schools I reviewed emphatically referred to this strategy as the only way to prosper in the markets. Reading Nodoji's thread has proved a valuable resource supporting this concept by professional traders. Please let me know if you feel I'm on the right track and suggest other areas of focus. Do the experts you referred to also focus on price action theory? May the market gods be kind to you!
Johno : Your posts are spectacular. You manage to provoke a deep thoght processes with in myself with your valuable information. Your recent clarification regardng my previous questions has made a profound impact as to how I now view the markets. My mechanistic and subjective approach to the markets HAS caused me great suffering. I can now see the proverbial light at the end of the tunnel. What I find questionable now is to what degree I perhaps utilized this same approach in other areas of my life and what the consequences were as a result . You are blessed with extrodinary wisdom and I think we both know where that come from. I appreciate your contributions and hope to meet you some day. metoo
I have only interacted on ET for a short while now. It humbles me to be associated with such a compassionate, giving, kind, selfless and inteligent group of contributors. Understanding many here have reached success it amazes me when I consider the level of quality responses I have received. I wish to express my sincere gratitude to all of you who have made contributions. *To me compassion is an admirable quality in that you cared enough for someone you did'nt know and shared your viewpoints. *To me giving is an admirable quality because when you give I believe you experience the true essence of life. *To me selflessness is an admirable quality because you all took time away from your busy schedules to respond in a meaningful way. *To me kindness is an admirable quality because you were kind enough to give a total stranger a second thought. *Inteligence is an admirable quality as you all chose to share your wisdom. To me possessing these admirable qualities makes you PEOPLE OF CHARACTER AND INTEGRITY! Congradulations and thank you all for your contributions! This information has made a profound impact on the way I now view the markets.
Metoo, This post seems to be complete but I want to interject one last thought to help drive home a point. Redneck said some amazing pearls of wisdom you can only attain after years of experience. If I were you I would read them again and again as you make your way. (the other posts were pretty good too, except the blog-o-mercials) - I just coined a new phrase â The secrete to this game is YOU. The best indicator you can ever use is YOU. Once you understand you, the markets are easy. Lots of people can tell you what they do but it will be of no use to you. Only you can develop you. Welcome! I wish you a long ride down the river. PS Redneck: You should charge for that
its summer and there should be a few carnivals in your neighboring towns, go there and study how its run and how people give away their money,even though they know they are getting screwed, notice how the barkers talk it up(cnbc, GS, morgan)and how the customers keep lining up in droves(that's u, the new trader)watch them walk away with empty pockets. Figure out why this keeps re occurring and you will have figured out the markets. The answers are in 1000 books, 1 or 2 sentences in each. Paper trade for the next year , while u have your wifes income, when she retires you will still have all of your cash , and will have learned a years worth of screen time, what to watch and when to use it, openngs, trendlines, fed days , unemployement #'s, end of month window dressing,expirations, rsi, stochastics, macd , divergences, intuition hopefully, until then, you would be foolish to continue trading with real money
Sorry I missed this post hence the late reply. The approach doesn't matter so much as the opportunity to see live trading at an advanced level for a small cost. Seeing real profits booked and being able to copy the trades can sure change your perspective about how you would like to trade. Learning from books is a lot more difficult compared to being able to ask questions and get explanations on live charts and not just entry/exit levels. But having said that, there are many, many ways to trade successfully and you will need to discover which style and time frame suits your temperament and objectives, and that will be an important part of your personal journey. Is price action important? Believe me, everything is important and your ability to understand one piece and fit it with another and another will determine where you plateau off. Probably the most important thing is PA but what you combine it with and your skill in doing so will decide you bottom line. Enjoy your journey.
Hi Xpurt, you mention, "the opportunity to see live trading at an advanced level for a small cost. Seeing real profits booked and being able to copy the trades can sure change your perspective about how you would like to trade." Where exactly would you find this opportunity? Thanks in advance. Regards Johno