My Journey In Technical Analysis

[XRAY27]

Five pointer for self

1. Price has memory. What did price do the last time it hit a certain level, Chances are it will do it again.

2. Big volume kills moves. Climax blow-offs take both buyers and sellers out of the market and lead to sideways action akka jhand market

3. Trends never turn on a dime. Reversals build slowly. The first sharp dip always finds buyers and the first sharp rise always finds sellers.

4. Bottoms take longer to form than tops. Fear acts more quickly than greed

5. Beat the crowd in and out the door. You have to take their money before they take yours :lol:

 

[XRAY27]

Go HUNT Your Dream - Motivational Speech

 

[XRAY27]

Construction of trading plan needs analysis to frame the edge, if it is "try and fail" concept end result will be "Quit"

 

[XRAY27]

How to scale in your trades and maximize your profit potential

Watch it

 

[XRAY27]

Passion For Trading!!!

You probably think you have passion for trading, but do you have what it takes.

The wannabe traders have a passion for trading. They just want to find opportunities to trade. It should not be the case as by doing so it is the ingredient for failure.

If you are having the wannabe mindset, I suggest that you change your mindset now after seeing this post.

Real traders have a passion for trading well and are commit to mastery. They want to get better and will put in the hours to improve their skills.

That is why I always remind my students that they should continue the back-testing process while they are waiting for trading opportunities.

By doing so, it helps to increase the screentime and build the confidence they need on their trading system.

Show me what you are doing outside of market hours, and I'll show you the odds of your success.

By :Alvan Sue Bing Teck

 

[XRAY27]

Start of Trading journey and success

Image source: my FB friend

 

[XRAY27]

People can agree or disagree with this ,but always remember

"It's hard to win an argument with a smart person,but its damn near impossible to win an argument with a stupid person"- Bill Murray

Never argue with baba market, try to follow it because it is both smart and stupid :lol:

 

[XRAY27]

Hmm !!! waiting !! waiting !! waiting !! for my turn !!!

 

[XRAY27]

Trading price action versus your own opinion will help you magically be on the side of the majority most the time.

Trading in the direction of the trend will enable you to be right more times than wrong most of the time.

Today NF,BNF best example !!!

Always remember (self)

Doing nothing when you do not know what to do that itself is a plan that will save you much money.

 

[XRAY27]

Market Wizards interview

Bruce Kovner is one of the world’s most successful traders. The following below is extracted from his Market Wizardsinterview:

“A greedy trader always blows out. I know some really inspired traders who never managed to keep the money they made. One trader at Commodities Corporation – I don’t want to mention his name – always struck me as a brilliant trader. The ideas he came up with were wonderful; the markets he picked were often the right markets. Intellectually, he knew markets much better than I did, yet I was keeping money, and he was not.”

Q: So where was he going wrong?

“Position size. He traded much too big. For every one contract I traded, he traded ten. He would double his money on two different occasions each year, but still ended up flat”.

And, from further on in the interview:

“First, I would say that risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half. My experience with novice traders is that they risk three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks.”

Prudent risk control, combined with the power of compounding, can lead you a long way in this game.

Source:Internet