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Post by traderAllen on Sept 7, 2015 17:45:51 GMT -5
I cannot stress the importance of understanding the difference of when a market is tradable and when it is not. You must learn to sit on your hands when there is no clear direction of who is in control of the market. If you cannot quickly and simply look at a chart, naked chart that is, and tell if it is being bought up or sold off. You are not ready to trade real money. Trading setups are useless if you don't know who is in control. Sometimes it is tricky smart money does not want you to know what they're doing and they will do everything to keep you from figuring it out, even if it costs them money sometimes. It takes lots of screen time to understand. Often no one is in control smart money stands on the side and watches the amateur traders battle it out them in the market is ripe a jump in and take everyone's money whip sawing the market up and down. Don't let this happen you, take the time to learn price action. Sit on your hands until you can see what smart money is doing. It's not that hard it just takes time and patience.
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Post by photize on Sept 14, 2015 6:36:04 GMT -5
I cannot stress the importance of understanding the difference of when a market is tradable and when it is not. You must learn to sit on your hands when there is no clear direction of who is in control of the market. If you cannot quickly and simply look at a chart, naked chart that is, and tell if it is being bought up or sold off. You are not ready to trade real money. Trading setups are useless if you don't know who is in control. Sometimes it is tricky smart money does not want you to know what they're doing and they will do everything to keep you from figuring it out, even if it costs them money sometimes. It takes lots of screen time to understand. Often no one is in control smart money stands on the side and watches the amateur traders battle it out them in the market is ripe a jump in and take everyone's money whip sawing the market up and down. Don't let this happen you, take the time to learn price action. Sit on your hands until you can see what smart money is doing. It's not that hard it just takes time and patience. Words of wisdom , many thanks Allen. I would like to add 2 cents , please watch where price is positioned the edges (tops and bottoms) provide more significant decisions and hence often are more trade able once the decision has been made, whereas the middle whether its on a HTF or just the 50% of the daily range (as an example) is often undecided more times and should appear as added risk or avoided. Pho |
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