Tuesday, September 20, 2011
Some thoughts about trading.
In trading, it is not important (in my opinion) to know everything.
You just have to learn (or listen) and find in your own way how the markets really works and from there implement or practice in actual trading what ideas you had.
It takes time, but if you persist and have the goals to succeed, nothing is impossible.
There are many ways to get involve in the market, you just have to find simple idea(s) that works for you.
In fact, one idea is enough, you just have to master it and tweak it as you go along.
But you have to do a lot of reading and educate yourself about the market, but that will come easily while you are in the market.
Skills is the most important, practicing the skills and knowledge about the market is the key to successful trading.
And based from studies and as mentioned from Malcolm Gladwell's "Outliers" book, it takes 10,000 hours of practicing your skills to master your field.
That's why commitment and patience is important in any endeavor.
In trading, it is not important (in my opinion) to know everything.
You just have to learn (or listen) and find in your own way how the markets really works and from there implement or practice in actual trading what ideas you had.
It takes time, but if you persist and have the goals to succeed, nothing is impossible.
There are many ways to get involve in the market, you just have to find simple idea(s) that works for you.
In fact, one idea is enough, you just have to master it and tweak it as you go along.
But you have to do a lot of reading and educate yourself about the market, but that will come easily while you are in the market.
Skills is the most important, practicing the skills and knowledge about the market is the key to successful trading.
And based from studies and as mentioned from Malcolm Gladwell's "Outliers" book, it takes 10,000 hours of practicing your skills to master your field.
That's why commitment and patience is important in any endeavor.
Monday, September 19, 2011
Like what I've mentioned from my last post, the market (YM) might pop up before the close.
As can be seen from this 5-min. chart, it really pops before the market close.
The bears losses their ground.
The daily chart shows a bullish candle, let see by tomorrow if it will sustain the bullish traction.
Though the market is in the bear side, I can see that in the short term a bullish scenario is unfolding.
I might not post actual trade scenario in the coming days due to tight trading schedule.
It takes a lot of pressure showing real time trades when there are some trades that are being manage.
Will just post some trading ideas/analysis from time to time.
As can be seen from this 5-min. chart, it really pops before the market close.
The bears losses their ground.
The daily chart shows a bullish candle, let see by tomorrow if it will sustain the bullish traction.
Though the market is in the bear side, I can see that in the short term a bullish scenario is unfolding.
I might not post actual trade scenario in the coming days due to tight trading schedule.
It takes a lot of pressure showing real time trades when there are some trades that are being manage.
Will just post some trading ideas/analysis from time to time.
The market drops in the open and a selling pressure significantly follow through.
But the bears are quite very careful after that waiting for the sentiment or some pulse from the economic views/news especially from the overseas, the Greek problem.
Right now the market is just a waiting game or what might call the "directionless".
But who knows it might pop up later before the close.
I traded early and got chopped off.
Was early to put on a trade, I forgot to watch myself...my left brain did not act the way my right
brain thinks...
That's the problem in trading psychology...if you are not thinking rationally...you will trade impulsively...
Good thing I calm down a little bit and was able to analyze the market and made a good trade enough to cover the costs...
That's what trading is all about...watch yourself and think rationally...
But the bears are quite very careful after that waiting for the sentiment or some pulse from the economic views/news especially from the overseas, the Greek problem.
Right now the market is just a waiting game or what might call the "directionless".
But who knows it might pop up later before the close.
I traded early and got chopped off.
Was early to put on a trade, I forgot to watch myself...my left brain did not act the way my right
brain thinks...
That's the problem in trading psychology...if you are not thinking rationally...you will trade impulsively...
Good thing I calm down a little bit and was able to analyze the market and made a good trade enough to cover the costs...
That's what trading is all about...watch yourself and think rationally...
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