Wisdom Dump

[kkseal]

... what are you having trouble with? What do you need to compensate for?

Very good question. My problem is indiscipline. I just can't stick to my SLs. Keep tinkering with them. In fact to be honest i hate them (somehow hurts my ego). May have to pay dearly some day.

 

[CreditViolet]

People, unless they are naturally well disciplined, are extremely open to suggestion. Folks like to be given, tips, listen to the news stories, seek out rumours in internet chat rooms, or maybe subscribe to secret information leaked from unknown sources.
For the most part, professional traders, syndicate traders, and the specialists, do not look at these things. They simply do not have the time. Professionals have to act swiftly, as soon as market conditions change, because they are up against other professionals who will act immediately against their interests if they are too slow in reacting to the market. The only way they can respond that fast is to understand and react, almost instinctively, to what the market is telling them. They read the market through volume and its relationship to price action. - Tom Williams

 

[oilman5]

excellent collection on trading..
u have shown your touch!

 

[Saint]

Hi CV,

Hope you get the time to continue "dumping wisdom" in this thread.....

Saint

 

[CreditViolet]

Hi CV,

Hope you get the time to continue "dumping wisdom" in this thread.....

Saint

Hey Saint, will sure continue this thread

Rgds

 

[CreditViolet]

If you intend to be a good trader and an accurate forecaster, do not take a survey of market opinion. (If you do find a colleague who is consistently correct, either learn his system so that you can use his tools with your own intuition and experience or delegate part of your trading strategy development to him.) Remember that most people arrive at conclusions based on emotional bias, called “talking one’s position,” rather than by properly using a technical or fundamental approach. - Cynthia Kase

 

[CreditViolet]

The market’s pricing mechanism remains based in such a degree upon faulty and frequently irrational analytic processes that the price of a security only occasionally coincides with the intrinsic value around which it tends to fluctuate.- David Dodd

 

[lokanathpai]

If you intend to be a good trader and an accurate forecaster, do not take a survey of market opinion. (If you do find a colleague who is consistently correct, either learn his system so that you can use his tools with your own intuition and experience or delegate part of your trading strategy development to him.) Remember that most people arrive at conclusions based on emotional bias, called talking ones position, rather than by properly using a technical or fundamental approach. - Cynthia Kase

Yes, that's what my intention learn from credit violet, plz gyan do

 

[CreditViolet]

Yes, that's what my intention learn from credit violet, plz gyan do

I told you in 10 minutes what took me 2 years to figure out. Think about what I said and come back to me in a few months when it starts to make sense.

Best Rgds
CV

 

[CreditViolet]

To play the market properly requires silence, and seclusion to examine the situation, and to appraise, and deliberate on new information that comes to hand during the trading day. One must always have a clear strategy to play the market and clear rules to follow. - Jesse Livermore