Search results

Agreed. The "smart money" thing is pretty much a con that's been sold to beginners for at least a decade. "Big", yes. "Smart", not so much. Incidentally, a tick chart should not be drawn as a line chart. Otherwise one is sort of missing the point. No pun intended.

An exploration

I don't see any inconsistency. The wealthier and better-educated see themselves as part of the new aristocracy. All part of the new/old order.

.

.

Beginners commonly focus on the money. This is why they view every counter-tick as a danger signal, as a looming loss, as confirmation that they were wrong, as if when and where they entered made the least bit of difference to the market. On the other hand, if they focused on trading well, the...

And what prevented you from seeing all this at the beginning? Did you approach trading with any preconceptions? Is there anything you could say to a beginner at this point, or is it necessary for each to find his own way?

Given that it's been a little over a year since you started with this (though not with the intensity that you've worked since moving to ET), is there anything you want to add to what you wrote above with regard to where you are and the progress you've made?

You've done a fine job providing the shortcomings of MAs, so the question appears to be whether you'd be better off finding a way of making them work or finding a way of identifying HLs and LHs in real time (in which case you could just drop the MAs). With regard to the latter, what is it that...

Since only one person answered your question, I'll offer some of the books I recommend, at least to someone who's just starting: General Semantics of Wall Street by John Magee This is the book I would recommend to anyone interested in trying his hand at the stock market. It is not...

$10k? Damn!

.

Hoover

Or you can just watch the righttick of the bar.

Or just Google the title. There's something ironic about somebody my age explaining how to use Google to someone younger.

The key factor, no. But it's up there. I doubt that anyone who had been bouncing off the walls and then learned to adopt a sense of calm would go back. But you never know.

Who said anything about "hanging in a losing trade"?

.

When you take your emotions out of the game, other [traders'] emotions become visible. When we are focused exclusively on our own emotions (as we often are), the emotions of others tend to be obscured. When we make ourselves neutral, however, we find that the canvas suddenly becomes blank and...

Yes, you have. Learning how tape readers traded before intraday charts was enlightening. How does one organize the information reeling off the tape? It's not possible to write down every trade with the attendant volume. And even if one could, how to make sense of it all? The obvious...