Hate to pop your ego balloon... but your "advice" has not been help... more hindrance were I dumb enough to follow it. You didn't answer my question... "Did you ever have a losing trade"? If so, why? You claim to be able to filter out the "good from the bad". Come on, let's here it. We're all on the edge of our seats with anticipation.
That was so awesome, I just thought I'd sign on, repost it, and say, "That was so awesome!" So there.
====How to develop decisiveness and quick reaction time?==== decisiveness is a result of two thing: utmost believe in the method at hand + uninterrupted assessment of the situation on the market in all time-frames required by the method if uninterrupted assessment is maintained then reaction time is not an issue, the problem is when operating only in the bigger time frames (30-min and above) trader's fatigue sets in...traders then tend to wander away from the trading screen , then sudden and especially unexpected moves of the market catch traders off-guard...
You didn't answer my question... "Did you ever have a losing trade"? If so, why? You claim to be able to filter out the "good from the bad". Come on, let's here it. We're all on the edge of our seats with anticipation. Where are you? We're all still waiting... Tick-Tock..
If it's down to 'fear of being wrong' then why not check out the material from Mark Douglas, there's a few lengthy interviews on Youtube, plus the books of course.
To add to that, "deer in headlights", why be afraid to pull the trigger? If it's because it could remove you from the game altogether, then that could tell you something vital. Even if the account is small, whenever you're standing to gain substantial, your research should match that, because being wrong will be substantial too, either in terms of probability or impact. In that light, being a "deer" could be a blessing in disguise! It could be your alarm clocks going off in your brain, while your intellect tells you in hindsight "oh darn I should've taken that trade" - No, you shouldn't! Hindsight only works as an afterthought, is self-destructive in business and need to be recognized as illusion. It's may be the start of research though. With enough research, after a long time, you'll be out of options but to forward test to see if you're deluded or not. After so much work, execution will be the least of the problems you've had to overcome, and decisions will generally be much easier to make even with discretion. In my opinion, if decisions depend on being made in split-seconds, the trading plan sounds broken, or at the very least, that's not the life I want to live. Analysis-paralysis is real, and tough to overcome. Can take years of dedication and running in circles. However, good analysis removes doubts, build enough confidence, making decision and execution much easier, especially when done in a way to remove interpretation and discretion. I'm not afraid, because I should have little to lose, and in the end it's only currency.
Sorry to have kept you waiting. It was night in my part of the world. Or course. Because I and TA are not perfect. Perhaps my writing ability is so insufficient to where you can't understand it when i say that one can determine before entering a trade if the probability of the trade working out is high enough to warrant taking the trade. So I'll try the simplest example I can think of. Based on a setup of a move from A to B to C, the trader knows from study and experience that a move in the direction of D is most likely to occur in the vast majority of the cases. The move from C may near D, or may reach or exceed it. However, the move from C to D may fail to occur at all. And the trader can more often than not determine this probability according to the technical indications found in the move from A to B, at B, on the move from B to C, or by the price movement at C. Therefore the setup would not meet the necessary requirements. So that is how one can filter out the trades in advance. True, the trader may misread the indications, or TA may simply fail, neither being 100% perfect. However, with proper study and analysis, the trader will have profitable trades in the vast majority of the cases based on probability.
Yesterday was a very good example entering the market without hesistation, without second thought was very important. about 10 seconds after ECB announcement, there was a signal to short Eurusd. about 40 seconds before US stocks market opens, there was another signal to short eurusd. When there was a signal, you have about one second (at times less than that) to pull the trigger. If you pull the trigger too late, you are going to get very bad price. Definitely all the charts, ladders must be in place.
I'm no into that ABCD stuff. When I checked into it I concluded that it is flawed thinking and strategy. I'll concede that if it's working for you, you're playing some sort of consistency in price.... and that's what we're supposed to do. All I can say is you and I play price TA significantly differently. Gomen for giving you such a hard time earlier.