Quote from shortorlong:
Yeah I really like the volume bars on top/below the candles. Very cool.
Even though we've gone past Stochastics now, I'm still getting great value out of this thread.
1 - Gotta look at PnF charts. I feel like I am learning a new technique everyday though, so I am probly not going to rush into PnF. We'll see..
2 - I've heard it many times that I gotta look at volume, and I was doing this before but recently I took volume off of my chart to fill it up with MACD and Stochs. While doing this I was asking myself (where is volume?) and having doubts. I switch to volume bars this morning, but that doesnt do a whole lot unless I constantly check how fast the bars are coming against time. Gotta get back to volume - going to do this right away..
Good stuff here for a new trader imo..
The thread didn't get stochastics discussed to any extent by what was posted. There were a lot of myths stated as well.
Anyone who is approaching learning to trade must deal with several important issues. There are many ways to make momey and there is a whole range of performance possibilities.
Essentially, for success, a trader must make it his business to be able to display the market he is trading. You can imagine what ET would be like if those posting did show what they were looking at as they make their comments. There would be some great learning going on.
A lot of people learning to trade behave as you do. Some never get beyond the phase that you are involved in.
If you are able, consider three things that relate to trading successfully. A plan for learning. A plan for trading. A business plan for dealing with money.
You have no learning plan which means you have no trading plan which means you have no business plan for dealing with money.
Successful traders do not "learn to make money". Or to put it another way: "learn in order to make money".
It was common and recuurent to see 39 steps to making money posted a while back. There has never been posted a series of three sets of steps for plans for learning, trading and the business of trading.
It is difficult for anyone to be receptive to advice from anyone else. Being purposeful in this day and age is difficult probably because the world operates on "instantaneous".
Most of the posting on ET is brainless and "instantaneous" run on copy that is like cocktail conversation. Everyone is talking and no one is listening.
You started a thread and you didn't "get it" that you do not understand much of anything.
For everyone, whether they like it or not, they are always building their minds. They are adding to their minds all of the time and little of what they build will ever leave them.
Working purposefully is the only way. Experimenting and inventing in an unorganized and hit or miss manner is more than a waste of time and money; it is personally, destructive.
A page of notes can become a file folder with pages of notes. Folders can be put in accordian files and accordian files can be put in file drawers and file drawers can be put along walls in rows.
So you OP'ed a thread and it became a mess. Now there is a possibility that someone, in the future will come upon this thread and make decisions as a consequence. Why don't you get to work and get the job done?
He would probably also reject your statement that an extended trend line "leads" price.
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