Thatâs probably a waste of time. The noobie wonât believe you and the experienced traders all ready know that.
Very nice, especially for a first attempt. Clearly you've read the thread, and good for you. Where are you? Eastern Europe?
There are some typo in previous post, switching between picture and typing is not yet easy for me. Hope you all understand that. Hi db, I'd been following you all the way from TL until here but I still have some psychological problems need to be solved in the realtime though. I'm from TZ GMT+8 country
How did you guess non North American Db? Doesn't make any sense, considering it's the first post. Gringo
8:15am est. Tuesday morning. I just finished reading the entire thread. I had my own charts up and went over pretty much every post. Studied like I was taking a class. I wish I came across this when I started trading years ago. I've bought into every system, paid countless vendors for their snake oil and have fought to become just marginally profitable. The answers are right here. For free. and it's not that complicated. Almost as simple as the title itself. I have much more to unlearn than learn. Thanks RN for the exercise you describe for fixing my issues. (sheet of paper/line down the middle/you know the one) I have started my journal as well as starting to define a well, thought out trading plan. Thanks DB. Since I do not pay my bills by trading yet, there is no sense for me to take any trades (real or sim) for awhile. I will just observe. And I will base my trading plan on my observations of price behavior. It is not possible to be at my computer on Mondays, but Tuesday thru Friday open until lunch and most days later has my undivided attention. Six months? who knows... maybe less... The sooner I unlearn what I've already been taught, the better. I'm sure of this. Thanks to everyone who has contributed in a meaningful way to this thread. It is much appreciated and I hope this thread stays active and alive for a very long time.....
The initial areas around which I will focus my attention on looking for a trade will be, first and foremost, that 3100 level, and what traders decide to do with it. It is the midpoint of the trading range that price has been traveling within this summer, and it has been the scene of many a skirmish between buyers and sellers. Whoever controls that line early will likely tell me whether we see a buying wave to test supply at last week's 3109 high and possibly the overnight high at 3113.25; or does a selling wave develop that tests the 91.50 which was this morning's premkt low, and then the holiday mkt's opening low at 88.75. It is intersting to me that 3109, last week's high, and 3190.50, the premkt low, have both been noted here in this thread on previous days, weeks and weeks ago. The market does seem to remember these levels for some time. There are other levels alsso, both above the market up to the range's 3048 high and then down to 3052.50 and 3023.50. These levels were all noted on last week's 60/120 minute charts, and there is no need restate them all here now. Much of what happens today for me will hinge on who controls trade at 3100. Whoever has the ball, that is the team I want to play for.