Hello padutrader, I agree with you on this part as well. If there is selling or buying pressure/strength in one direction or the other, pick a spot, and enter on the pressure as well.
Such is the grey fog in which we operate. The most important skill we can develop is how to “read” the pressures as the movements take place. Those pressures are exerted by entities you cannot control nor can you possibly know when they will start exerting their pressures upon the markets because you cannot know their intentions and desires. But thankfully, the pressures they exert tell a story in the charts. And since markets have inertia that story continues, at least for a while. The market knows nothing of your’s nor anyone’s carefully conceived plans nor does it care about fulfilling it. I have no plan. Each day the market writes my plan. I just have a tool box I dip into to utilize as the market writes my plan. I have no idea what the market will do today. But I do know that whatever it does there is a tool box of strategies and tactics that I can deploy as the market sings it’s song for the day. We humans plan because we want structure which gives us a sense of certainty and security. But think about it. You cannot plan what you do not write. Let the market sing. What else can you really do? Learn to devise means and methods to sing along with it. If you wish to call that a plan they that is ok. I suppose.
Sure, I agree with all that. That's why i've been starring at charts for over a decade for 6 hours per day or so. Just waiting for my 'aha!!' moment! cheers
it is not a strategy that is mine or brooks....waiting for a pullback in a trend to enter has been used from the day stock trading begun...price do not move in a straight line however using this strategy when market is in a range is a disaster....so knowing when to use what strategy is the key
yes the only thing that may be certain is whether the market is in range or trending:and then to decide on the severity of the trend or range......there are many degrees and that is why trading seems simple but is not ...a lot of judgement is required
it took me ten years of staring....only now i am beginning to get it......of course there are traders who get it in a few seconds...or so they tell me you see we all look at price.... i did for ten years....but it is not all about price!...price action leaves out one dimension: TIME!!! you have to stare at time too