the most dangerous enemy is self doubt. you must believe that you can understand the market. that the market moves rationally and not because of emotion or randomness. you must believe that there is a secret sauce and that you can find it you search correctly and long enough. i never lost that belief, even after i lost 12 years, more than 100000 usd and also every ones' faith in me. i never lost faith even though all traders in ET said there was no secret sauce and that i was a troll and an idiot. i never lost faith in myself. and now i know i was right in not doing so. then you will see the treasure that you have always craved
if you read books they will convince you that markets are emotional-driven by fear and greed- and are random. that all market participants are idiots to be in such an environment they will put you in the wrong direction and on the wrong road. however far you go on the wrong road you will never reach your destination
So you believe that the markets have no random element, are not affected by human emotion, and that there is a singular "secret sauce" that can explain them? I'd be curious to know which 1,000 books you read:
I know...... I do not believe the secret sauce ingredients.....are no secret....and are context and buy and sell signals as outlined by brooks: h2,l2 the usual list.i have forgotten the list on purpose...they are all worthless all except a few lines from Brooks' book.......i took me 12 years to find those lines made of gold edit if market were driven by human emotions it would be impossible to trade them......markets are driven by rational traders all knowing what should be bought and what should be sold. no doubt there are newbies who react to market emotionally, much like the newbies, who react emotionally to traffic on roads. however the market is moved by rational traders because they hold the market reins in their hands because they move the bulk of smart money......
where were the bubbles, they existed for small periods of time , crash of 2007? 1987 crash? 2003 crash? all fell till the context became bullish trends-down trends and uptrends -bubbles and crashes- have to taken in context I am meaning context in the technical sense NOT in the English language this bull move of the dow has eclipsed the crash of 2007. clearly higher times ahead
like trends there are many contexts...….contexts are bearish until they become bullish....only then you get reversals it is important you get a bearish context...... before you take the sell signal. more than important...... it is critical. Nature and traders are without mercy when they see weakness...
all books mention trends. buy and sell signals as far as my memory goes, I may be wrong, but only one book -Brooks-mentions context. context can negate buy and sell signals-a sell signal when the context is bullish , should not be taken.