How to develop decisiveness and quick reaction time?

[learner2007]

I'm just tired of hollering into the wind.

Me too!!

Happy now?

No. Sorry I wasn't of more help to you!

Wish you luck in your trading!

 

[Scataphagos]

Me too!!

No. Sorry I wasn't of more help to you!

Wish you luck in your trading!

Hate to pop your ego balloon... but your "advice" has not been help... more hindrance were I dumb enough to follow it.

You didn't answer my question... "Did you ever have a losing trade"? If so, why? You claim to be able to filter out the "good from the bad". Come on, let's here it. We're all on the edge of our seats with anticipation.

 

[tommcginnis]

I'm surprised everyone here is focusing on banishing that doubt from your mind, and none have broached the possibility of nurturing it. What you call deer in the headlights, I call seeing the forest through the trees. This was a major "ah ha" moment for me.

When I see signals coming faster than I can read them, I'm not missing entries on individual charts, I'm seeing a systemic move. In the surfing analogy, this is a tsunami that's going to completely subsume individual waves. And these aren't chart signals, they market moves manifesting in the charts...false signals.

I don't know if this is what you're seeing, but I do know it took me a long time to connect those dots and I'm still honing that skill (even if someone had told me this, I wouldn't have figured it out immediately). But this doubt has kept me out of bad weeks, gotten me out of positions early (and correctly), and saved me thousands of dollars in the past few months alone...And twice in as many weeks recently.

That was so awesome, I just thought I'd sign on, repost it, and say, "That was so awesome!"

So there.

 

[qxr1011]

====How to develop decisiveness and quick reaction time?====

decisiveness is a result of two thing: utmost believe in the method at hand + uninterrupted assessment of the situation on the market in all time-frames required by the method

if uninterrupted assessment is maintained then reaction time is not an issue, the problem is when operating only in the bigger time frames (30-min and above) trader's fatigue sets in...traders then tend to wander away from the trading screen , then sudden and especially unexpected moves of the market catch traders off-guard...

 

[Scataphagos]

Be nice.


Of course you can. If you have a set up where, for example, the volume is too high or too low, or the reaction is too deep etc., you would choose not to enter that trade knowing that the probability of the trade working out is lower than normal, and that is what the price movement is telling you right there and then in advance of an entry.

Bedtime......

You didn't answer my question... "Did you ever have a losing trade"? If so, why? You claim to be able to filter out the "good from the bad". Come on, let's here it. We're all on the edge of our seats with anticipation.

Where are you? We're all still waiting... Tick-Tock..

 

[smileypete]

Success in day trading is all about precision and timing. However, when I spot multiple opportunities during live trading, sometimes I get the "deer in the headlights" reaction and by the time I snap out of it the stock has already taken off without me in it.
Besides more screen time and practice, I am looking for ways to improve my reaction time and decisiveness so I don't miss opportunities.
Any suggestions or book recommendations are welcome.

If it's down to 'fear of being wrong' then why not check out the material from Mark Douglas, there's a few lengthy interviews on Youtube, plus the books of course.

 

[Simples]

I'm surprised everyone here is focusing on banishing that doubt from your mind, and none have broached the possibility of nurturing it. What you call deer in the headlights, I call seeing the forest through the trees. This was a major "ah ha" moment for me.

When I see signals coming faster than I can read them, I'm not missing entries on individual charts, I'm seeing a systemic move. In the surfing analogy, this is a tsunami that's going to completely subsume individual waves. And these aren't chart signals, they market moves manifesting in the charts...false signals.

I don't know if this is what you're seeing, but I do know it took me a long time to connect those dots and I'm still honing that skill (even if someone had told me this, I wouldn't have figured it out immediately). But this doubt has kept me out of bad weeks, gotten me out of positions early (and correctly), and saved me thousands of dollars in the past few months alone...And twice in as many weeks recently.

To add to that, "deer in headlights", why be afraid to pull the trigger? If it's because it could remove you from the game altogether, then that could tell you something vital. Even if the account is small, whenever you're standing to gain substantial, your research should match that, because being wrong will be substantial too, either in terms of probability or impact.

In that light, being a "deer" could be a blessing in disguise! It could be your alarm clocks going off in your brain, while your intellect tells you in hindsight "oh darn I should've taken that trade" - No, you shouldn't! Hindsight only works as an afterthought, is self-destructive in business and need to be recognized as illusion. It's may be the start of research though. With enough research, after a long time, you'll be out of options but to forward test to see if you're deluded or not. After so much work, execution will be the least of the problems you've had to overcome, and decisions will generally be much easier to make even with discretion.

In my opinion, if decisions depend on being made in split-seconds, the trading plan sounds broken, or at the very least, that's not the life I want to live.

Analysis-paralysis is real, and tough to overcome. Can take years of dedication and running in circles. However, good analysis removes doubts, build enough confidence, making decision and execution much easier, especially when done in a way to remove interpretation and discretion.

I'm not afraid, because I should have little to lose, and in the end it's only currency.

 

[learner2007]

Where are you? We're all still waiting... Tick-Tock..

Sorry to have kept you waiting. It was night in my part of the world.

You didn't answer my question... "Did you ever have a losing trade"? If so, why?

Or course. Because I and TA are not perfect.

You claim to be able to filter out the "good from the bad". Come on, let's here it.

Perhaps my writing ability is so insufficient to where you can't understand it when i say that one can determine before entering a trade if the probability of the trade working out is high enough to warrant taking the trade. So I'll try the simplest example I can think of.
Based on a setup of a move from A to B to C, the trader knows from study and experience that a move in the direction of D is most likely to occur in the vast majority of the cases. The move from C may near D, or may reach or exceed it. However, the move from C to D may fail to occur at all. And the trader can more often than not determine this probability according to the technical indications found in the move from A to B, at B, on the move from B to C, or by the price movement at C. Therefore the setup would not meet the necessary requirements. So that is how one can filter out the trades in advance. True, the trader may misread the indications, or TA may simply fail, neither being 100% perfect. However, with proper study and analysis, the trader will have profitable trades in the vast majority of the cases based on probability.

 

[maxinger]

Yesterday was a very good example entering the market without hesistation, without second thought was very important.

about 10 seconds after ECB announcement, there was a signal to short Eurusd.
about 40 seconds before US stocks market opens, there was another signal to short eurusd.


When there was a signal, you have about one second (at times less than that) to pull the trigger. If you pull the trigger too late, you are going to get very bad price.

Definitely all the charts, ladders must be in place.

 

[Scataphagos]

Sorry to have kept you waiting. It was night in my part of the world.

Or course. Because I and TA are not perfect.

Perhaps my writing ability is so insufficient to where you can't understand it when i say that one can determine before entering a trade if the probability of the trade working out is high enough to warrant taking the trade. So I'll try the simplest example I can think of.
Based on a setup of a move from A to B to C, the trader knows from study and experience that a move in the direction of D is most likely to occur in the vast majority of the cases. The move from C may near D, or may reach or exceed it. However, the move from C to D may fail to occur at all. And the trader can more often than not determine this probability according to the technical indications found in the move from A to B, at B, on the move from B to C, or by the price movement at C. Therefore the setup would not meet the necessary requirements. So that is how one can filter out the trades in advance. True, the trader may misread the indications, or TA may simply fail, neither being 100% perfect. However, with proper study and analysis, the trader will have profitable trades in the vast majority of the cases based on probability.

I'm no into that ABCD stuff. When I checked into it I concluded that it is flawed thinking and strategy. I'll concede that if it's working for you, you're playing some sort of consistency in price.... and that's what we're supposed to do.

All I can say is you and I play price TA significantly differently.

Gomen for giving you such a hard time earlier.