DislikedCouldn't agree more, there are a million ways to live a full life and there are also a million ways to trade profitably. Mine is not "the ultimate way", and it is in no way better than anyone's ways. Mutual respect.
And yes, I agree, shrewd folks can always learn something from the other.
Umm, what I tried to explain was, I try to keep a distance from "the market". I try to look at it as numbers appearing on the screen, or "reality", instead of "a way to get rich in 2 days", or a source of excitement, or anything else. I don't personalize...Ignored
Very wise post. We have same views about the market. When I say Mean Bitch it refers to risk, when I say good bitch, in means managing risk.
One very interesting point I learned from your this post is horizontal support and resistances. In fact all support and resistances are horizontal, but the timeline coverts them into trend lines on the chart- this is only a visual gimmick.
For example, if Euro/USD comes down let's say from 1.4300 to 1.4000. The first level of 1.4300 is a horizontal resistance and the second level of 1.4000 is horizonal support - nothing else. Now it may take some time to come down to 1.4000, retesting every level it crosses on its journey down i.e. 1.4250, 1.4200, 1.4150, 1.4100, 1.4050. A line joning these points would appear as a trend line (or a declining wedge) but in fact PA is just moving from point A (1.4300) to point B (1.4000).
One looking only at flashing numbers will notice that it is going down as well as the person drawing a trend line on the chart.
Thanks for providing very useful feedback.
The Thief of Wall Street