I know exactly what you mean. When I first started to learn about trading it all seemed like it was very complicated. I've always been very good at gaining a deep understanding of complex subjects so I figured that if I just gain as much knowledge as I can about the markets and learn about as many patterns and indicators as I can, the more successful I would be. A lot of people have this misconception about trading. Btw, could you point me in the direction of this test that you speak of?
http://www.daytradingpsychology.com/aware-profile/ for a free test
I can absolutely relate to that. I have the hardest time keeping all the knowledge and preparation at the forefront in my mind, and tend to make emotional decisions at times. The most frustrating thing in the world, esp. on trades where the stock is up like 60% on the day, and I have managed to lose money on it by chasing, stops too tight, no plan, etc. I know that fear of missing out is the #1 cause of me losing money. My roommate says that he just concentrates on feeling the soles of his f
yup, try listening to the audio book "trading in the zone" by mark douglas. I'm not done listening to it yet but its been very helpful already. you can buy it on iTunes or I'm sure you can find the actual hard copy book on amazon or something. I also listen to the free podcast called "chat with traders" and he interviews successful traders who all talk about the importance of discipline.
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[TimAlerts] earnings winner is determined on price action..thats the lesson.... Look at $MEET historical chart --its doesn't hold its earning well...
[TimAlerts] can someone please help e understand $MEET? the earnings were good, numbers good, wtf? PM me please
[TimAlerts] $MEET earnings up 11%
[TimAlerts] where are all those sellers coming from on the lvl 2 on $MEET?
[TimAlerts] $ASTI looking like it wants to fill that gap before continuing back up
[TimAlerts] $BIOC breakout
[TimAlerts] what is going on with he level 2 and prices of $AXN right now? PM me please this makes no sense
[TimAlerts] $AXN running again
yes it's a good place to short when buyers disappear at that point. try a small position then test the line of resistance until big buyers come in and break that line. be careful of fake trades that appear and disappear or appears on both sides. watch both 1 min and 5 min charts for trend line change along with the lvl 2 action.
what indicator are you using at the bottom to track those orders coming in/drying up?
Market Delta on Sierra charts using IB data
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