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If you do not have some kind of statistical performance level achieved in practice and trials first that says you have a good handle on the basics of price chart reading, inventory understanding, market structure, money management, risk management, and trade entry criteria, then you are not qualified to trade.
That's it. Either qualify for the job, or go do something else. I can not put it more simply than that.
Then, even though you may have qualified to trade live in the market, you still have another qualifying level to attain. That is self control. Only way to learn it is to trade it. So, don't go it alone if you can help it. Find yourself some good buddies who also trade and who have also been qualified, and use the association to help you get through the real hurdle of adjusting to cash loss.
Talking the walk is not the same as walking it.
Can you help answer these questions from other members on NexusFi?
Learn a language to describe to yourself what you see. Keep it simple, use precise terms that convey price identification and structural placement. The words should also convey a sequential expectation. The sentence should make sense to you and convey what actions may be taken, or not.
This takes screen time with careful observation and conclusions. Identifying everything as precisely and simply as possible with a few words. Then, trade what you see.
The questions you ask say that there is a way to know when and in which direction the trend is, or when the market is sideways, or the difference between breakout and false breakout. All these things are hindsight views, and will not help you very much at the hard right edge where your decisions need to be made. So, concentrate on learning from right to left as each tick and each bar comes in. Add that bar to the left and then see if you can identify what you are looking at. We learn at the hard right edge, any other type of learning is ok for summary. But, anyone who says .. look you could have gone long here, or short here - or there was a trade here or here while looking more than one tick into the future on the chart has no clue. Those statements - here is a long or here is a short - are all relevant and useful on the very bar at the hard right edge. So, understand the left, but learn everything at the hard right edge where the decisions to go long or short, or not, needs to be made.
Here are some examples of learning to read price charts.
Learn while looking into the unknown and using the past as a reference for clues as to what you are watching develop in real time. Always know the long, short, and sideways. You do not have to trade any of it, but by keeping your view unbiased and up to date will allow you to pick your moment to risk a trade.
I do use auto traders. However, the best bot is the one that thinks just like me. So, since I do not use indicators for trading signals or decisions, there is nothing mechanical to program. There is no indicator rule based strategy. The best bot is the one that makes discretionary decisions based on how I read the market & price displayed on my chart.
If you are trading well, then get yourself a programmer to watch your trading and assign them to program your thought and decision making process. Then you will have a great trader working for you... yourself!
I really appreciate this huge collection of trading wisdom, I could have used this when I started 9 months ago, this will need to be read over at least twice! I am looking for a good traderoom, actually yours is on my list to evaluate, it is listed on the Tesseract Futures website, believe it or not. I don't quite get how they are listing other Trading rooms besides their own, but yours is listed as a top room.