Disliked1. When I saw the trend, I was in doubt to have long. 2. But I thought the price was in strong support with decreasing bearish volume. 3. I decided to have short with tinny lot 4. and.... coming a conclusion trading with Volume and supported by trend is the ideal one. Please evaluate my summary, have a nice weekend.... {image}Ignored
I have been thinking about writing a book, "Don't Be Cheated", about the market. Until then, let me present you with several salient points of understanding if you want to be more successful.
1. We can never know how the price will move next. The idea that by somehow "properly" seeing the chart we can know how the price will move next, at least in the near term, is totally bogus! It is bogus because those that control market prices will make price move however they want, whenever they want. They know where the orders of other players are and what they are for, and therefore they know the bias of the other players and how to manipulate prices to draw more money into the market, and then steal it.
2. Therefore, the only basis we have for even thinking we know enough to put on a trade is to have a system ( Sonic R. System ) with better than 50-50 probability of the price moving in the right direction, at least for awhile. But even with such a system, we cannot know how the price will actually move next. We only have a probability.
3. Because we only have a probability, because price might not "behave", we need to have a way to manage a trade when price does not "behave".
4. Having a clue ( PVSRA ) as to the status of MMs, where price has come from, and where it has landed helps to fill in the picture of the price swing manipulations by those that control market prices. It helps in trade management; whether to hold, fold or add when price does not "behave".
5. The "market" is not a nice place. Those that control market prices are running a business for their own profit, not as an opportunity for you to make a profit. They want your money, not the other way around. They provide you with the mindset, tools and everything else you need to have a Pollyanna belief in a "free market" so while you are losing money you will nevertheless continue in your belief that if you just don't quit you will eventually win. You see, if you quit then they won't be able to continue to milk you for money.
Hope This Helps,
-tah