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It has finally clicked.....as a trader
- Thread starter wiesman02
- Start date
Could you describe what you mean by "price action"?
weisman
you have to understand; coming into a place with experienced traders and saying you "clicked" after 5 weeks, has the same effect as walking into a neurosurgeon's conference, and saying you know how to ply their craft after 5 weeks of medical school.
You are getting the reaction, because frankly, you have said "LOOK AT ME, A TARGET!!"
you have to understand; coming into a place with experienced traders and saying you "clicked" after 5 weeks, has the same effect as walking into a neurosurgeon's conference, and saying you know how to ply their craft after 5 weeks of medical school.
You are getting the reaction, because frankly, you have said "LOOK AT ME, A TARGET!!"
Quote from TraderZones:
weisman
you have to understand; coming into a place with experienced traders and saying you "clicked" after 5 weeks, has the same effect as walking into a neurosurgeon's conference, and saying you know how to ply their craft after 5 weeks of medical school.
You are getting the reaction, because frankly, you have said "LOOK AT ME, A TARGET!!"
Never said I perfected trading. In fact, I merely stated that I've reached a higher understanding of price action.
Does it mean I will throw down consistant profits everyday ? Probably not. I still have a lot to learn and a lot of mistakes to make. I just think I've reached a higher understanding.
If there were grades, I think I passed a grade. Still in elementary school, but definitely seeing improvement.
Sorry if i offended anyone by saying I've 'got it after 5 weeks'
Quote from wiesman02:
I've been trading fulltime for a month. This is my 5th week. Just made the jump to 200 shares. In no way have I figured out the markets, or found a holy grail, or find my trading absolutely perfect. But it has clicked.
I feel like it just suddenly clicked. I feel as though I've put together all the pieces to the puzzle......Meaning I've understood the in's and out's of price action within my system well enough to be profitable. Pyschology ? Not perfect....definitely holds me down at times.....but the key is price action.
Many traders have a problem of letting profits ride. Well I had that problem. BIG time pyschological barrier. Prevented me from making big money, especially in the mornings where trends seem to be more prevalent. Was exiting based on emotion. Even when I tried to exit w/o emotion, I still did it. Focused, still couldnt do it.
Then I began to see patterns within the trend....the way price is moving. I am starting erode the barrier of pyschology and emotions by getting a firmer grasp for how price moves. I still have much much more learning of price action to go.
But today it just hit me. I know I can become consistantly profitable now if I just watch how price moves and adhere to my strategy.
I think many traders fail b/c they haven't reached a certain level of understanding of price. Once u understand price action, the emotional aspect begins to slowly wither away. Definitely not completely, but enough to prevent disasters.
I know I'm babbling, but I think this is an important step in my trading career. I feel like I've reached a 'level 2'. A step where I feel many traders never reach. This is definitely a turning point.
Thoughts anyone ?
those famous words ! your on the curve now... but can u stick to the path ? a wee bit too early i fear, taken me years with some shockers along the way. See you on the mountain.
Kap
Quote from wiesman02:
I've been trading fulltime for a month. This is my 5th week. Just made the jump to 200 shares. In no way have I figured out the markets, or found a holy grail, or find my trading absolutely perfect. But it has clicked.
I feel like it just suddenly clicked. I feel as though I've put together all the pieces to the puzzle......Meaning I've understood the in's and out's of price action within my system well enough to be profitable. Pyschology ? Not perfect....definitely holds me down at times.....but the key is price action.
Many traders have a problem of letting profits ride. Well I had that problem. BIG time pyschological barrier. Prevented me from making big money, especially in the mornings where trends seem to be more prevalent. Was exiting based on emotion. Even when I tried to exit w/o emotion, I still did it. Focused, still couldnt do it.
Then I began to see patterns within the trend....the way price is moving. I am starting erode the barrier of pyschology and emotions by getting a firmer grasp for how price moves. I still have much much more learning of price action to go.
But today it just hit me. I know I can become consistantly profitable now if I just watch how price moves and adhere to my strategy.
I think many traders fail b/c they haven't reached a certain level of understanding of price. Once u understand price action, the emotional aspect begins to slowly wither away. Definitely not completely, but enough to prevent disasters.
I know I'm babbling, but I think this is an important step in my trading career. I feel like I've reached a 'level 2'. A step where I feel many traders never reach. This is definitely a turning point.
Thoughts anyone ?
price action do u mean this ?
http://www.trading-naked.com/Buffy_Price_Action.htm
Wow, I can't believe how negative people on this forum are. Always ready to jump onto someone else and put him down.
Leave the kid alone. Did he claim he became the best trader ever? Did he say he just found the holy grail?
He just said something very important that is key for every daytrader: when you understand price action, when you are in synch with the market, that's a big psychological edge that allows you to trade your setups without worrying too much or second guessing yourself.
Well done kid, that's something you should engrave on the wall in front of your PC and read each morning before market open.
There are many other things that make a trader a consistently profitable trader, but at least you have found one.
Leave the kid alone. Did he claim he became the best trader ever? Did he say he just found the holy grail?
He just said something very important that is key for every daytrader: when you understand price action, when you are in synch with the market, that's a big psychological edge that allows you to trade your setups without worrying too much or second guessing yourself.
Well done kid, that's something you should engrave on the wall in front of your PC and read each morning before market open.
There are many other things that make a trader a consistently profitable trader, but at least you have found one.
Quote from fseitun:
Wow, I can't believe how negative people on this forum are. Always ready to jump onto someone else and put him down.
Leave the kid alone. Did he claim he became the best trader ever? Did he say he just found the holy grail?
He just said something very important that is key for every daytrader: when you understand price action, when you are in synch with the market, that's a big psychological edge that allows you to trade your setups without worrying too much or second guessing yourself.
Well done kid, that's something you should engrave on the wall in front of your PC and read each morning before market open.
There are many other things that make a trader a consistently profitable trader, but at least you have found one.
Great job! I fear I did the same. Actually, I almost doubled my initial investment in the first couple months of trading (consistently swing trading during some good market conditions...then unconsistently day trading)
This quickly led to over-trading and then a flip in the market trend last week that plummetted my ROI from 100%, to approx. -25%...
If there's any thing I could possibly do to help you, is, when you do have those big losing days, don't hesitate to:
a) lower your investment back to what you traded before (100shares I guess) so you can get traction on the market as well as your confidence
b) don't be afraid to not trade for a day or two. a break can really help you accept your losses which is important. or else you end up revenge trading and lose even more in the following days
c) a loss is a loss, simply that. all good traders will get this.
Quote from wiesman02:
I've been trading fulltime for a month. This is my 5th week. Just made the jump to 200 shares. In no way have I figured out the markets, or found a holy grail, or find my trading absolutely perfect. But it has clicked.
I feel like it just suddenly clicked. I feel as though I've put together all the pieces to the puzzle......Meaning I've understood the in's and out's of price action within my system well enough to be profitable. Pyschology ? Not perfect....definitely holds me down at times.....but the key is price action.
Many traders have a problem of letting profits ride. Well I had that problem. BIG time pyschological barrier. Prevented me from making big money, especially in the mornings where trends seem to be more prevalent. Was exiting based on emotion. Even when I tried to exit w/o emotion, I still did it. Focused, still couldnt do it.
Then I began to see patterns within the trend....the way price is moving. I am starting erode the barrier of pyschology and emotions by getting a firmer grasp for how price moves. I still have much much more learning of price action to go.
But today it just hit me. I know I can become consistantly profitable now if I just watch how price moves and adhere to my strategy.
I think many traders fail b/c they haven't reached a certain level of understanding of price. Once u understand price action, the emotional aspect begins to slowly wither away. Definitely not completely, but enough to prevent disasters.
I know I'm babbling, but I think this is an important step in my trading career. I feel like I've reached a 'level 2'. A step where I feel many traders never reach. This is definitely a turning point.
Thoughts anyone ?
My suggestion to you - ignore the negativity on this thread. You have accomplished a personal milestone, and your confidence is growing.
Do you still have much to learn about trading? Yes. Is that a bad thing? No.
Funny how you have figured out the market after 5 weeks of trading.
Hilarious when you said you are trading in 200 shares lot.
There are people who have done this for years and still lose money.
There is nothing to figure out!
There is no silver bullet!
There is no magic formula!
Unless you can make up 80% of your losses in 20% of your trades consistently for at least a year, you have not figured nothing out!
That is 2 minutes of my life that I will never get back trying to tell some superstar trader like yourself because you will never listen and blow out your account in 2 months because you believe in your method of trading and have a 20k loser!!
When will I figure THIS out?
Hilarious when you said you are trading in 200 shares lot.
There are people who have done this for years and still lose money.
There is nothing to figure out!
There is no silver bullet!
There is no magic formula!
Unless you can make up 80% of your losses in 20% of your trades consistently for at least a year, you have not figured nothing out!
That is 2 minutes of my life that I will never get back trying to tell some superstar trader like yourself because you will never listen and blow out your account in 2 months because you believe in your method of trading and have a 20k loser!!
When will I figure THIS out?