As a trader, your objective is to have your position/risk tolerance "in tune with price"... whatever that takes and on whatever time front you trade.
===do you pay much attention to candlesticks/price action and how they behave around certain areas that you deem important? === yes ===Would you say this is crucial to becoming a successful trader?=== there r a lot of stuff that u can call crucial, this imho is one one them..but if somebody will tell me that he based his method on astrology and it works for him - fine with me ===Where did you learn about it?== u never learn the method; u create it, based on your experience and knowledge (some of which can be learned from books or forums, some of which u obtain yourself)
Price can be the cause also. But i agree that mostly it is a result of many different causes, which is not necessarily makes it less useful. I view price as a resulting-vector or many different cause-vectors. Who needs the cause if we know the result. Cause is necessary if u need to predict the future price. But we r not trying to do that
that would be very stupid of us because the set of rules is the essence of the trading method personally i do not understand all the aggravation: who cares who trades what and how it is like with sex - personal matter , so if somebody says that he has 20 inch dick, fine with me -it does not affects me at all: my dick will not get longer or shorter
===I am trying to get across. === i think most have understood what u were trying to say, they just disagree with u a little bit , me too ====since most feed the few in this game. === and those few - 99% brokers and maybe 1% traders ===I know for certain, that it doesn't work for you despite how good it makes you feel to think u have a working profitable system that works in all market conditions--=== nothing is for certain except death and taxes ===no amount of psychology will turn a subpar system consistently profitable.=== agree but psychology never claimed to do that, it just helps to maintain sanity
Fear? how could fear be an issue if you have absolute control on your losing trades? ...once you get there (letting go and accept the losing side of trading as just cost of business), and I know it can be hard, fear will not be an issue, you just place your bet at a low risk area with small enough stop and then you just let it play out. Fear is an issue if you have Hope (that a losing trade will turn into a winning trade, it may happen but it is not worth the risk), remove Hope and will have removed Fear...
P.S. to trad consistently with profit there is no substitute for many, many, many hours in front of the screen, once you start breating PA you will see what is happening here an now and start making good money. any attempt to short cut this will fail inevitably.
Time has nothing to do with it. You need an edge, and its not wasting time in front of a screen staring at charts. Sure it may work, but it fails for 9 out of 10. Not good odds and s waste of time. Yes, study is critical but study the cause of price movement not the result (price). Its logically flawed to believe that by looking at the result of certain actions -- you can increase the odds of being correct in guessing the next action. surf