Damn I did it again. Killed a thread...Well, back to work. Have a good one y'all. Better trading tomorrow.
Usually at this time, I go through the day and see how things went, what were the mistakes I made today and changes I might consider doing to my system and style. But today I knew the mistakes I made the minute I clicked the order in. Tm Trader
I would like to inform you that I made a total of $2.80 today after commisions (which where pretty high) I can't believe that of all days I chose today to overtrade.
Interesting, isn't it? I actually tend to look at countless factors. I think I'd call my trading "elimination method". What I'm getting at is that I like to look at the market from every possible way. I want to know all the relevant MA's, all the price levels, supports, resistances, short-term, long-term, prior congestions etc etc., RSI, STOC, CCI and their divergences, ADX, Volume, ATR, fibonacci time/price grid levels, fib circles, bar analysis over various periodicities, time&sales analysis... This way, I feel like I don't miss out on anything. Basically, when there are really gaps opening between all these indicators, then I can see an opportunity straight away. It looks confusing to most - But perfectly simple and transparent to me. It really isn't a problem. I traded "KISS" for quite a while, but got a little bored with the simplicity and the potential underlying action that others might be seeing while I ain't. So, eventually I just decided to see everything Most people would get analysis paralysis from this, I guess, but really - Once you've done it so many times, it's just routine. And you see so much more. The more you can see, the more ahead I can be of the others. This is what I define as one of my edges, anyway. I should admit that I have a certain faible for complexity in almost anything. I love complex formulas, translating Latin,(or French, German, English, Turkish LOL), programming... anything challenging, you name it. I like hanging around with equally confusing people, too. For example, I like my girlfriends to have IQ's over 130!! And by the way - I don't necessarily use all this stuff for scalping That's just for intraday trades! OK let's summarize all this: I just want to know everything! ~Scientist
The problem I have with looking at EVERYTHING, is that there is always something that doesn't pan out with what other indicators will tell you. So you will always have a fw contradicting indicators. What do you do in these situations? TM Trader