Sunday, July 25, 2010
Only by applying what you have learnt, can you progress well and it goes for both life and trading.
I have chosen in life to follow certain ideals and have faced difficulties, lost a lot of relationships and it has never been my loss as I am quite content in this journey inspite of many instances of disappointments. It is my journey and I have chosen it this way. I am sure you excercise your free will to choose yours which is closest to your heart. You have 90 minutes in a football game and only what you do during that 90 minutes count, not before it or after it. You can take this 90 minutes as your life time...or your trading hours...or your family time and whatever you choose, play it with all your heart.
Markets are like the slippery fish, often escaping even a firmer hand. We have outlined in the above write up certain methods to capture a large chunk of the market and we should simply do it. Be flexible enough to use different method when the situation demands.
We tend to place undeserving importance to others opinion and conclusions and regret not following our own counsel. If you are confident and convinced of certain studies..be it TA, EW, MP, FA, Astro, Gann, Music notes, follow them to their logical conclusion. The biggest enemy in this journey is "getting distracted" and only you can take the required steps to deal with such distractions.
Lead indicator: Only leads...It shows you the reversal only and not the tops or bottoms. It showed an upward reversal from the 4786 low point which is yet to be reversed in this weekly Time frame.
The same "Lead indicator" has shown few minor reversals of "Ups & Downs" in the day Time frame from 4786 till now. Each reversal has given a minimum 100 points if the signals are accepted. You can now fine tune further down to "Hour Time frame" for the next reversal..
Use the Head only for "Planning" and disconnect it once the execution starts and especially during celebrations.
A blind boy sat on the steps of a building with a hat by his feet. He held up a sign which said: "I am blind, please help." There were only a few coins in the hat.
A man was walking by. He took a few coins from his pocket and dropped them into the hat. He then took the sign, turned it around, and wrote some words. He put the sign back so that everyone who walked by would see the new words.
Soon the hat began to fill up. A lot more people were giving money to the blind boy. That afternoon the man who had changed the sign came to see how things were. The boy recognized his footsteps and asked, "Were you the one who changed my sign this morning? What did you write?"