If I may, I'd like to comment on some of this, but trying to match reply to quote would take way too much time. But I'll try to be clear as to what it is I'm commenting on.
"Starting over properly" is unimaginably difficult. It's not unlike being told not to think of an elephant. Once one has been told not to do it, one finds it almost impossible to think of anything else.
Perhaps the biggest and most difficult tasks are two sides of the same coin: stop thinking about the money and stop thinking about one's trade. Watching people trade yesterday brought these difficulties front and center. Nearly all the comments had to do with trades and shorts and longs and stops and whether or not one ought to enter or exit or reverse. There was virtually no comment on what price was doing and where and how and why. Therefore, the comments that were made were irrelevant to the task. If you can't examine price movement without thinking about a trade, this will take far longer, and you may not succeed in your efforts at all.
As to the buy/sell thing, I used "buying pressure" and "selling pressure" way back when in order to make the whole demand/supply thing more concrete. Since the understanding of just how auction markets work was so insufficient, getting into bids and asks and how buyers and sellers interact seemed unnecessarily complicated, particularly since the reality of it is so different from what one is led to believe.
But once one begins observing, it becomes apparent that prices rise because buyers are willling to pay the ask. When they are no longer willing to pay it, prices fall. Conversely, prices fall because sellers have to lower the ask in order to get rid of whatever it is they're selling. This also helps to explain and define the "range". The end result of all this is that one begins to realize that it is buyers who are in charge throughout. It is they who decide whether or not they're going to buy and how much they're going to pay. If there are no buyers, there are no trades, and everything comes to a screeching halt. No sellers? There are always sellers, if the price is right. This is incidentally a lesson which a great many economists have not learned, much less business and government leaders.
Similarly, fear is the central emotion, not fear and greed, much less fear and greed and hope. It's all fear. And if one understands fear, he is in a very much better position to exploit the fear of others than if he cannot extricate himself from that particular matrix. If one can trade emotionlessly, he is a better position still. What 40D "sees" in rejections and reversals is a good example of this.
I realize that this may be very different from what you've read or heard or observed, but it is the basis of an auction market. Try replay with these guides in mind and a few lights may come on.
"Starting over properly" is unimaginably difficult. It's not unlike being told not to think of an elephant. Once one has been told not to do it, one finds it almost impossible to think of anything else.
Perhaps the biggest and most difficult tasks are two sides of the same coin: stop thinking about the money and stop thinking about one's trade. Watching people trade yesterday brought these difficulties front and center. Nearly all the comments had to do with trades and shorts and longs and stops and whether or not one ought to enter or exit or reverse. There was virtually no comment on what price was doing and where and how and why. Therefore, the comments that were made were irrelevant to the task. If you can't examine price movement without thinking about a trade, this will take far longer, and you may not succeed in your efforts at all.
As to the buy/sell thing, I used "buying pressure" and "selling pressure" way back when in order to make the whole demand/supply thing more concrete. Since the understanding of just how auction markets work was so insufficient, getting into bids and asks and how buyers and sellers interact seemed unnecessarily complicated, particularly since the reality of it is so different from what one is led to believe.
But once one begins observing, it becomes apparent that prices rise because buyers are willling to pay the ask. When they are no longer willing to pay it, prices fall. Conversely, prices fall because sellers have to lower the ask in order to get rid of whatever it is they're selling. This also helps to explain and define the "range". The end result of all this is that one begins to realize that it is buyers who are in charge throughout. It is they who decide whether or not they're going to buy and how much they're going to pay. If there are no buyers, there are no trades, and everything comes to a screeching halt. No sellers? There are always sellers, if the price is right. This is incidentally a lesson which a great many economists have not learned, much less business and government leaders.
Similarly, fear is the central emotion, not fear and greed, much less fear and greed and hope. It's all fear. And if one understands fear, he is in a very much better position to exploit the fear of others than if he cannot extricate himself from that particular matrix. If one can trade emotionlessly, he is a better position still. What 40D "sees" in rejections and reversals is a good example of this.
I realize that this may be very different from what you've read or heard or observed, but it is the basis of an auction market. Try replay with these guides in mind and a few lights may come on.
