Have you tried reducing the number of indicators on your chart to the barest minimum? For me, as I still believe in using moving averages, particularly for direction, I still use EMAs. How many? I now use only one EMA, purely for direction and alignment of direction across the higher time frames. Trade safe.
One of the things I learned in the last few weeks is to improve on the accuracy of my market reading and technical analysis. What about you, what you have learnt recently that could make you a better trader? Trade safe.
I read analysis too. Do you perform it by yourself or read the expert’s columns?
I do my own analysis on a weekly basis and track the market a few times during the week. Trade safe.
While I do read analysis, I always try to stick to my own analysis as much as possible.
Agreed! Being your own boss is it! You trade your style, you trade your strategy and you master your techniques. Doing otherwise is dangerous to your trading career. Trade safe.
What are you going to do differently trading-wise this week? Why or why not? Trade safe.
[B]Tips-for-Thought[/B]
While technical analysis helps prepare you for trading and to decide your plan of action, trading is less about predicting the market or the next move; it’s about reacting to what is in front of you, what is happening.
Trade safe.
[B]Nuggets[/B]
We all have to understand how the market works and learn how to effectively deal with it in order to last long in this business. Trade safe.
I agree with you, however, the definition of technical analysis is to forecast the future price action using historical data plotted on a chart. So, you can also trade the reaction that you thing the instrument will make.
Imho, the key is dealing with what is in front of you. Trade safe.
That largely depends on the kind of trader one is, I think. If one is an intraday trader or a scalper then that approach very much applies. But if you’re holding positions open for weeks or even months on end it’s good to be able to make a long-term prognosis about the market.
Same coin, bro. You plan based on your analysis and place and time your position/entry based on what you see in the charts. Trade safe.
One of the things I have learnt and have been using for effective trading is that beyond price, timing is of essence. No matter the price action and the quality of your trade set-up, if the timing of your trading is wrong you may be stitched. What about you, what did you learn recently and would like to share with members of the forum? Trade safe.
Not trading after a few beers, always ended in tears.
Funny, better keep clear mind.
Different strokes, bro! Bottom line, know thy self! Trade safe.
As we wind down 2016, may be you’d be thinking on the most important thing you learned during the year.
[B]Just-for-Sharing
[/B]
Becoming more patient is key to the progress I made as a trader this year. Learning to wait patiently and track the market and confirm price action in a top-down regime has been crucial to the progress I made since March this year when I blew one of my three live accounts. Trade safe and prosper.