Is Trading a Mass/Crowd Psychology?

Quote from kingfisher3210:
For the first time in my trading life, i am able to understand the scheme of things.
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No, not so unfortunately. You may be instead a victim either of mass psychology or simply of inexperience.

The market is understood by seeing only what price does each day - it goes up and done. And to harness the markets price gyrations, that is the swings up and down, you do so by devising or adopting a reliable methodology. Imaging day trading taking profits from the successive swings the market offers (eg CL).

What is most important is the 'how' rather than the 'why'. Map out your trading plan accordingly.
:)
 
Quote from dozu888:

you have made the biggest leap of faith in understanding what trading is. You are not the fool... the 'many guys' are.
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How’s the saying go

If you can’t see the dumb money – then you are it


Keep extrapolating out KF3210 – you’re headed in a good direction

Once you get a handle on the psychology – you can exploit it


RN
 
Quote from kingfisher3210:

I am liking it. Price is the only technical indicator which does not lie.
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I’ll do you one better than that


Price is the only thing that never lies – in trading…, or in life…..

Or stated another way……

Trading is the only place I know of – where 100% reality exists – 100% of the time


Obviously each trader’s mileage may/ will vary

RN
 
Quote from ElectricSavant:

So what does this mean? If the price prints a tick up...go long?

ES
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Depending on the context in which that tick up occurs – yes…, or no

How long is a piece of string


RN
 
Quote from dozu888:

you have made the biggest leap of faith in understanding what trading is. You are not the fool... the 'many guys' are.
More...

Thank you for motivation specially it is coming from a senior member like you.

The older the joining date of member, the better credibility i give to his/her comments because of his/her vast experience.
 
so the piece of string thingy...is like the DOM and the trades that are lined up right?

ES

Quote from Redneck:

Depending on the context in which that tick up occurs – yes…, or no

How long is a piece of string


RN
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A quote from Trading Crowd Psychology book:

"To success in the future, we have to take a page from the distant past, from the days of Richard D. Wyckoff and Jesse Livermore. We need to regain our chart reading skills, to get a feel for the market and to be able to listen the story market is telling us.

These skills are lodged in the right hemisphere of the brain. They enable us to put the pieces of the market puzzle together, to discern patterns, to really get a feel for a person, for people, and for the crowd."




:cool:
 
Head moderator can you change the date that I joined...to avoid embarrasment :D ☺

ElectricSavant


Quote from kingfisher3210:

Thank you for motivation specially it is coming from a senior member like you.

The older the joining date of member, the better credibility i give to his/her comments because of his/her vast experience.
More...
 
Can left-handers trade better or worse than right-handers?

ES


Quote from kingfisher3210:

A quote from Trading Crowd Psychology book:

"To success in the future, we have to take a page from the distant past, from the days of Richard D. Wyckoff and Jesse Livermore. We need to regain our chart reading skills, to get a feel for the market and to be able to listen the story market is telling us.

These skills are lodged in the right hemisphere of the brain. They enable us to put the pieces of the market puzzle together, to discern patterns, to really get a feel for a person, for people, and for the crowd."




:cool:
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