5 Things I have learned in 5 years of trading!
- Thread starter sebking1986
- Start date
Something I should have learned by now, but it seems I am still re-learning it, is that patience is key. I used to think that I should learn to read a chart well enough that I would know what a chart is doing at all times so that I could get in anywhere and anytime and be profitable. But just because I know a bottom is being put in doesn't mean it's the best time to go long....It may take an hour or two for the bottom to be put in. Just because there are rapidly moving bars doesn't mean I should jump in and try to trade them. Stalking a trend is something I know to do but find it very, very hard to wait patiently for.
Actually, today I plan to try to put a new alert system on my charts to go off just before a trend should start...but, as usual, I thought about it in my head last night as I was falling asleep and ideas for alerts, or sure-fire ways to always be profitable, always work better in my head than in real trading. Anyhow, hopefully this time this alert system will work, and if it does, then I will have to train myself to not take a trade except after the alert goes off. So much easier to imagine than to do!!!!
Actually, today I plan to try to put a new alert system on my charts to go off just before a trend should start...but, as usual, I thought about it in my head last night as I was falling asleep and ideas for alerts, or sure-fire ways to always be profitable, always work better in my head than in real trading. Anyhow, hopefully this time this alert system will work, and if it does, then I will have to train myself to not take a trade except after the alert goes off. So much easier to imagine than to do!!!!
Would you be so kind to define "strongest charts"?
I'll go out on a limb and guess it's not RS rank or a ROC measure
You don't strike me as the quant type/momo looking at vol contractions-breakouts based on close to close vol vs H/L vol..
I'll go out on a limb and guess it's not RS rank or a ROC measure
You don't strike me as the quant type/momo looking at vol contractions-breakouts based on close to close vol vs H/L vol..
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I never meant to infer that Price TA "works 100%, every trade".
However the strategy works with the same "high percentage probability with very favorable R:R on all trades"... all time frames, all markets.
Anybody that runs across a chart like this? That is a strong down chart in my wheelhouse over here, fwiw, lol, especially when there's action.
I'm very much quant trader style; i used to be a statistician at Ford; mostly expanding ranges on increasing volume + directional volatility; wide/clean charts like these:
I’d also like to add a high emotional quotient. Traders should have good emotional health. Having controlled and regulated emotions allows traders to make rational trading decisions.
Really is important to trade what you see and be objective rather than trading a trend blindly. So important as you say to be willing to do as price is showing