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I am a rookie, but caught most of it. Or think I did.
I really have to put some time into the back fill what I didn't catch of what you wrote, as it seems to jive with what I brought to the table a few months ago.
Again, thank you. I might have to stalk your other threads.
PS: basic, assembler, php, coldfusion, others I have forgotten.
Can you help answer these questions from other members on NexusFi?
I am not sure what you mean by platform? It was a one term course in tech school, on PC (of course). The teacher wanted us to learn "programming" versus "a language". Php is my thing now.
It helps a bit if you are a conspiracy theorist or doubting Thomas and has worked well for me. Trading is all I do and how I put food on my table and pay the rent.
I don't think you can lose by questioning anything and everything said in trading - prove it for yourself.
It will take work but you will end up with a solid foundation. Tons of traders want to buy something ready made and not do the hard yards. Heaps of Snake Oil salesman around willing to sell you stuff but the good stuff is never for sale. If it's so good why are they selling it or can't they a make living off what they are trying to sell. Simply apply Occam's razor and should give you the answer.
2+ year follow up since my last post on this thread.
Anyone still here who read my original post? Curious how many survivors it helped?
For me i am still at it and doing the same stuff. Nothing has really changed as I am a vampire. I am a vampire because I trade in the middle of my night which is the day in the USA. I still think the same and still freight train it.
I've just read through this thread and found it informative. The stop run discussion you had was interesting. I normally look at price action and ask how 'they' would get large orders into the market without alerting anyone else. And vice versa, what would price action look like if 'they' were unwinding massive positions.
i agree with everything you say about emotions. It was my biggest hurdle and still something I deal with daily. If I don't stay on top of meditation and breathing exercises healthy eating etc.. I start a slow slide into a dark place.
Good thread thanks for sharing your thoughts.
Thanks for the thread bump @ctnz, there's some really great stuff here that rings true with where I'm at with trading at this point in time... such as...
Any tips for developing this skill further? I have struggled with the hot stove of directional bias many times, and many times got burnt in the process which in and of itself has definitely helped. There are still moments where my objectivity is clouded, much to the detriment of my paltry account
Great stuff, really helps put this subject in perspective. Some people might call a stop run a "false breakout" in a range, I think it is MMs snatching up all the remaining liquidity pooled just outside of the boundaries and this can be seen this with high volume.
Sounds like there is some similarity in our trading styles I'm still working out the semantics/finer points (refer to the later entries in my journal if you care to,) and always trying to find ways to improve my read of what the bigger players are trying to accomplish on all timeframes. If you decided to expound on any of these subjects, you'd have at least one captive audience member Thanks again.
PS: Just checked out Schull's book, looks like a very interesting read.
Like your location name. In my prior life before trading I put some time in Springfield, Oh just up the road at a hospital.
Denise's book is a solid investment in yourself for not much money. You will learn stuff about yourself you never knew including things outside of trading.
Look at price action and try to see the psychology at work. Where does the "food" run out. Never chase but let price come to you or where you decided is a good point for an entry. Look at different markets, there might be one you can read better than others. Also look for periods of really low volume, because there is no tall grass for them to hide in. You don't have to actually trade it just learn from it and see if you can apply what you learned on that market to another market. I have spent many man years not just hours looking at charts before I finally "got it". Look at a chart and ask yourself what told me in price action that it might stop there. If you want to know what it is going to do right of the chart then look left. It is right on the chart in plain view. Most people won't invest anywhere near as much time as me to figure it out. The time required is different for each person. Good traders trade less not more. It is all about consistency. Also put yourself in their place, if you are a billion dollar hedge fund how would you do it.
I day trade only futures not stocks or options. I never carry over night. i have traded everything from energies, grains, equities, interest rates (bonds), metals, and currencies. I have traded foreign markets including the hang seng, dax, and french cac. I look for markets I can read. If I can't read it I can't trade it.
One market I like is the EMD (equity mid caps). It has thin volume but is $10 a tick. Good volatility but can cut you to absolute shreds if you aren't up to the play. I also like the RTY (e-russell). Both you can only trade in the RTH (Regular Trading Hours) session as they go into a coma in the ETH (Extended Trading Hours) session or globex.