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I highly recommend you go through all of those. If you are lazy and don't intend to go through all of them then at least go through all of the Jeff Quinto "Fundamentals" section.
Moving averages are awesome at showing you the past trend. Worthless at telling you anything that is going to happen next, including trend.
You admit that you are still in the "learning curve", whatever that is, then you shouldn't so quickly reject what others are telling you.
I have been trading a really long time and still learn something new every single day, actually every single trade.
Anyone who wants to learn to trade need to put on a trade. It does not matter if it's a paper trade. I paper traded for 2 years.
I was bullish all day due to following reasons;
1) 54 area got tested 4 times over last 2 weeks. In my mind CL was ready to test high and higher.
2) Value areas keep getting build higher ( i do not find these to be useful but use it since everyone seems to like it).
3) Yesterday PRICE ACTION and a strong close at highs.
In the back of my mind i had one -ve question mark about 54 being taken out. The doubt was due to the fact that damn CL pulled backall the way to 52. This is not a sign of a BULLISH trend. When result of all 3 above mentioned points turned out to be -ve, i turned bearish.
Finally, i started building shorts around 52.10 area and was fully loaded with 30 cars. Due to some starnge reason i was totally unaware of FOMC rate decision. I got SURPRISED.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Yep and my subsequent shorts were also due to FOMC minutes. If i was aware of it before hand, i would had a monster day, instead my surprise forced me to play defense.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
If 48 breaks on this down move this week or next week- we will get to see who has been swimming naked from the BULL side.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
After loading up on shorts before FOMC minutes, what was I doing? Listening to some music. I prefer it vs looking at DOM etc trying to see what SMART MONEY is doining. Once a decision has been made , it pays to stay put.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
API gestimated 3.60 Cush build today. This is very large build. Over last 1-1.5 years API has been very close in their Cush # comparing to EIA. If confirmed tomorrow by EIA, would be the one of the largest builds since 2008.
That's why I will be praying tonight that CL bounces some so that i can add to shorts.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.