Profitable traders: how did you integrate all the disparate aspects of trading?

Discussion in 'Trading' started by Kovacs, Apr 23, 2008.

  1. Kovacs


    A year into trading, I have a basic grounding in S/R, technicals, fundamentals, position sizing, entries and exit schemes, emotional control, etc.

    What I find almost impossible is integrating them into a cohesive whole.

    It's sort of like trying to learn a proper running technique. If one focuses on the movement on the shoulders, then he forgets to breathe properly. When he shifts attention to that, he starts striking the ground too hard.

    It's all fragmented and getting in the way of consistency. A year in, I keep breaking even.
  2. I noticed you didnt mention a well rounded understanding of price action......

    techincals w/o understanding PA = breakeven daytrading at best
  3. I can ease your pain

    and no not with drugs this time (PM me if you change your mind) :D

    think of it this way, what happens when bunch of people or algorithms buy a lot or sell a lot

    a level is reached

    well now a whole bunch of trades have to be made to go back to original level

    all those people or algos need to be wrong now in their decision

    so which way is it more likely to go

    with the trend but of course
  4. Kovacs


    To learn price action, I took off all the indicators from my minute chart except volume. On days where I don't over-analyze, it works fine.

    Frankly, I'm not sure what the definition of price action is. To me, it's just short term resistance, support, and velocity to gauge where buyers and sellers are.

    Am I wrong?
  5. Cheese


    It can be reduced to a two part process.
    1. You must have an accurate methodology which you must be able to rely upon. This needs be a day trading sequential system wherein you are buying upmoves and selling downmoves serially as in a connecting continuum or chain (CL, YM, ES, etc), open to market close.
    2. You should next practice your trading drills on a simulation platform using your current live market but only moving to live actual realtime trading as you drill experience in simulation mode improves. You trading drill I refer to as operating procedure.

    If in the first part, the methodology, to the high standard and purpose needed, is not in place, you do have the means to be successful. It make take a long time to know what you need to know in this department. It may well be beyond most.

    However my only point is that it can be done.