...You say to "watch the market", but what are we watching for? Are there no helpful publications or websites or help on here to assists us in developing a sound, usable strategy? I watch the candlestick chart for the ES go up and down as arbitrary as the wind....I have been "watching" it for almost a year now with no indication either way of whether I am seeing support or resistance, momentum or retracements...etc.....
as far as developing a "strategy" I feel i am no closer to finding one than when i began...all the indicators tell me that one thing is supposed to happen and the exact opposite occurs....
Just sayin'.....
A good trader has
research skills.
Everything you mentioned in your quote above is already discussed in great detail at this forum alone. You just simply need to type into the upper right corner in the "search box" to access those topics you mentioned.
Therefore, due to the fact its all said here at this forum...maybe you're not observant enough, maybe these topics really aren't of interest to you...resulting in you only watching them for a few days before you move on to another topic, maybe you're making the classic mistake of trying to find trades or trade signals when you have not learned how to do the analysis first that would allow you to understand the price action
prior to looking for trade signals ?
My point is this, if you been
watching the S&P 500 Emini ES futures for almost a year...have you really been studying it or have you been trying to trade it...the latter is a mistake.
Analysis ------> Trade Signal (correct path)
The
analysis should take many months or a few years
prior to doing any real trades. In comparison, its like a real education (college)...you study for many years before actually getting a chance to apply it in real conditions. I'm always amazed by how many traders think they can be a professional trader in a few weeks or few months. Seriously, would you send your kids to a school where the teachers learned how to teach in only a few months, would you let a doctor operate on you if he/she learned how to do it in a few months, would you let your pharmacist prepare your medicine when he/she learned how to do it in a few months...something to think about...
right ?
Simply, many traders say they been watching or observing but in reality they have not...instead...they've been trying to trade it during that time span in hopes that they'll be able to figure it out as they go.
Thus, someone that's truly observing, studying, watching a trading instrument for one year...would
not have taken one single trade until they knew what was going on with that particular trading instrument...such may take up to several years or more prior to the first trade.
Don't believe the myth that its better to start trading small and then learn as you go...worst mistake ever and most do it and most fail.
