do you also bet against a pivot high or low for a failed break out trade by simply placing your order to buy the prev low or sell the prev high? or do confirm with bar formations instead of just placing your order at specific level??
http://www.finviz.com/quote.ashx?t=USO&ty=c&ta=0&p=m Quick question - looking at the chart above, was the real money made on a) five minute chart or b) longer?
HA! This is pretty funny. Stop talking with other 'traders' - I sit with headphones on and just zone out. Skype/Aim etc. is a buzz kill. You think a surgeon or a pilot sits and chats when they're at work? This is not a business fo eunuchs.
of course its hard. its just like how many people can hit a 98 mph fast ball? you can teach a 100% of the population to do that? people are born with characteristic's and with hard work they excel on that ability.
Quote from NoDoji: "Once you've done the research to determine the odds of one thing happening over another and develop a trading plan based on that research, the only clarity and certainty you need is a set of rules for execution. The only talent you need at that point is the ability to execute without hesitation when the conditions are met. It works so well, it seems unreal at times." This is very true. The best strat is worth nil zero, if you don't execute it, especially hesitating to exit when a trade is in a loss. Hesitating to enter a new trade costs no money - there is always a new opportunity ahead, as certain as there is always a next bus coming your way. One of my trader buddies often told me "trust your f...riendly signals". Happy trading, Felix
If you look at the markets and you have no clue about the direction, you will never make money. Even being quant, Phd or rocket scientist will not change that. Some see and most don't see. That's all. Some see the 3 and some don't.