Monday, March 5, 2012
Saturday, March 3, 2012
“Traders who continue to spend their money looking for the holy grail, the best indicator, or that secret winning method unfortunately miss the secret of winning. The secret lies in your own ability to understand the market that you choose to trade and your own ability to develop the strategy to capitalize on the opportunities that you have learned to identify.” – Dr. Keppler
Trade Your Own Way
Trading is not all about practice (live trading), you also need to be emotionally balance.
When we mentioned emotionally balance, you should be ready to put trades with reasons and purpose.
Not trades that are impulsive and no clear understanding in reference with the current market environments.
Putting unnecessary trades will affect you emotionally when at the end of the day you notice the summary of your account is on the negative side.
And you cannot refrain basing from your P&L because trading is all about making a profit.
And as you go along with your journey in trading, the problem of trading technique is not the issue anymore.
Whereas, initially while you are still on the learning stage you are looking for the shortcut to make money.
But after a while, you will realize that putting trades is not the issue.
It's all about the whole picture that includes market environments, minds of the participants, and your own psychology about the market.
It will take years to learn all of these, but through patience and perseverance - nothing is impossible.
Trading is like building a house in an earthquake prone areas, you should have a trading foundation that is solid and strong.
To sum it all, trading is all about your own understanding about the market and your own way of making trades.
It cannot be imposed on you, you have to find your niche and own way to trade.
No one can help you to make money in trading because other traders too are busy making money in their own way.
They cannot (and will never?) tell that to you, even to their love ones?
That's for sure!
When we mentioned emotionally balance, you should be ready to put trades with reasons and purpose.
Not trades that are impulsive and no clear understanding in reference with the current market environments.
Putting unnecessary trades will affect you emotionally when at the end of the day you notice the summary of your account is on the negative side.
And you cannot refrain basing from your P&L because trading is all about making a profit.
And as you go along with your journey in trading, the problem of trading technique is not the issue anymore.
Whereas, initially while you are still on the learning stage you are looking for the shortcut to make money.
But after a while, you will realize that putting trades is not the issue.
It's all about the whole picture that includes market environments, minds of the participants, and your own psychology about the market.
It will take years to learn all of these, but through patience and perseverance - nothing is impossible.
Trading is like building a house in an earthquake prone areas, you should have a trading foundation that is solid and strong.
To sum it all, trading is all about your own understanding about the market and your own way of making trades.
It cannot be imposed on you, you have to find your niche and own way to trade.
No one can help you to make money in trading because other traders too are busy making money in their own way.
They cannot (and will never?) tell that to you, even to their love ones?
That's for sure!
Friday, March 2, 2012
The market did not make any positive move today except that it stays/plays below its previous close.
It formed a small cup with a handle early but it failed.
Then it formed a big cup with a handle around noon time to finish where it opened in the close.
If you're just patient enough to wait for the pattern to emerge, you can make a good trade in the latter.
It formed a small cup with a handle early but it failed.
Then it formed a big cup with a handle around noon time to finish where it opened in the close.
If you're just patient enough to wait for the pattern to emerge, you can make a good trade in the latter.
Thursday, March 1, 2012
The market did not make any big move today, almost similar from yesterday's range.
It surge early in the open and made some slight predictable patterns from thereon.
A saucer pan/cup with a handle at around 11:00 am. ET.
And a little head and shoulder between 1:00 pm. to 2:00 pm ET.
If you are basing on a multiple time frame, you can easily figure it out the formation.
It surge early in the open and made some slight predictable patterns from thereon.
A saucer pan/cup with a handle at around 11:00 am. ET.
And a little head and shoulder between 1:00 pm. to 2:00 pm ET.
If you are basing on a multiple time frame, you can easily figure it out the formation.
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