DislikedHey everybody!
I have been reading and enjoying everybody's posts this past week! I haven't traded as I have been waiting for the dust to settle from the EU summit. It really could have gone either way and I didn't want to get caught going in the wrong direction.
Anyways, I'll be looking for support around 1.28 area before entering in. Probably going to wait for the ECB rate. Curious though, it seems that the rate cut is expected so shouldn't it be priced in during this weeks trading?
PT, quick question for you my friend. I...Ignored
To be perfectly honest, I didn't learn position trading at all. What I did learn about was F/A in all it's aspects from monetary policy to trader & investor psychology. That in itself was all I needed in order to draw the bigger picture and trade in the indicated direction. I am not a P/A expert and I will not pretend to be. It would be nice to get my entries precisely on the dot but I'm just not that anal about it. As long as I know which train I should be on (northbound or southbound), which station I board the train is not that important to me as long as I feel fairly confident there's still lots of train track left in the line
The link you provided is an excellent website for a no-nonsense down and dirty explanation of pure price action. I've skimmed through it and it seems to have lots to offer. I may just give it a good read this week.
I don't know of any specific sites that can teach you what I have learned over the years. I have had many sources of instruction, but the single most important and rewarding one was myself... glued to the computer and CNBC TV. The second most important was my mentor who was an economics professor. Unfortunately he passed away in 2007 so I didn't manage to get the full benefit of his wisdom. However he did get me off to a good start.
Those who say it cannot be done should not interrupt those who are doing it