Does reading help? Nothing will help if we havent backtested!!
I have read all of TSF multiple, multiple times burning midnight oil, (all along, the thought process used to be, if Saint Sir taught it and said it will succeed, it just HAS TO).
Well, yes it has to succeed because Saint Sir's systems are well thought out BUT!! the monkey in the middle is me pulling triggers at all the wrong places. Here the problems I faced were:
1) I had no clear definition of pivot, my definition was fluid
2) I could not follow my SL rules strictly
3) I did not backtest enough
4) I used to be quite disappointed
if on a day I made a 70 point loss Pratap Sir or Komal (people from TSF would remember her?
) made 500 points! So the next day I would become a tukka trader
5) My previous behaviour with SWIFT continued here too, i.e., jumping in and out of trades based on various opinions in the forum
- here what one has to realise is a senior trader if booked profit, will also know how to reenter, which I may not
- entry or exit in one method may not may not coincide with entry or exit in another
- what people may say in forums may be entirely different to what they are actually doing with their live trades
6) late entries and too early entries
In addition to reading through TSF, I read so many books and TJ and TSF pdfs, some of which are Al Brooks (tough read!!) , Law of charts, Sam Seiden, Prechter ( In addition to reading the book, I also spent so many days and nights watching Elliott wave course videos), Adam Grimes, some guy called Phil something - cant recall, Mark Douglas, Larry Williams, Turtle trading, a compilation of James 16 thread and Raghav thread, all of Your trading coach books and most of his site
, and many many more books. If only I had read and studied so hard while at college
I may have a Nobel Prize by now! Anyhow, I am not saying reading is bad, but backtesting is first and foremost!!