Getting started - developing a system

[IronFist]

Quote from Rhody Trader:

I'm a bit reluctant to tell you what I use for the simple reason that it will just perpetuate your indicator cycle. Do a search on "Identifying Budding Trends with Bollinger Bands" in Google or your search engine of choice, though, and you'll get the jist of what I do with volatility.

Interesting. Thanks.

 

[littletwig]

Quote from Schaefer:

This is the beauty about trading, what works for one person, may not work for the other. Even if you were let in on a successful strategy, it may, or may not work for you. Simply because, it may, or may not suit your personality.

If you haven't been doing this long, one thing you need to understand is, it's going to take time. Just study, whatever that comes across your path, and one day, that light bulb will go off, and you'll know what works for you.

You said, you just couldn't figure out when to enter, and exit. That's because you don't have a solid system yet. You may think, you do, but you don't. Because, if you did, you wouldn't be pondering where to enter, or exit.

So, keep an open mind, learn everything you can, and sooner, or later, you'll find yourself, what works for you, and what don't.

Enjoy the journey, do not rush in to place that trade for the fear of missing out on a nice run. You will know, when you're ready

Schaefer

There are many great books out there, which give insight into the minds of some great trading personalities... Jack's Market Wizards is one set, and Alexander Elder's Entries & Exits is a more recent addition. Dozens exist, but these are three I continually pick up. Psychology is important, but at some point you have to be IN the market to trade; standing aside is also an important decision.