[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.
Unfortunately I can’t say that I learned to be more patient this year. I am as impatient and stressed out as ever. That is something I need to work on 2017, hopefully with more success.
Hope you do. Trade safe and prosper.
While wishing you all God’s continued blessing, may be you would like to share here what you believe was the most important lesson you learned in 2016.
Trade safe and prosper.
The most important thing I learned in 2016, not really learning it newly but reinforced in 2016 is: Master your own trading system and strategy.
I think the best thing I learned in 2016 was how to handle my greed, as I finally started closing my positions on time.
Very good! We all have to be disciplined traders to succeed. Trade safe and prosper.
I agree, discipline is one of the main qualities a trader needs to cultivate in order to succeed. Patience is the other.
Timing your trade entry is a key part of trading discipline. No matter how good a set-up is, if the timing is wrong you may end up having a losing trade. Trade safe and prosper.