currently just started reading this thread by a tier 1 bank chief dealer who no longer post in ff. may he find peace in whatever he is doing now.
"There are many ways to trade, and for everyone the decision making process is different.
What you have described are very mechanical methodology.
It would be the way to go , if you were a machine.
Try to feel the market, ask yourself questions all the time.
You are not crazy if you ask the questions , only if you listen.
Look at the chart, ask yourself,
what did the market do when it was last at this level, historically?
was this level significant chart wise?
which direction is the market trending?
try to feel if its try to go up or down?
if you have determined the direction, its most likely to go.
if you use indicators, try to determine the nearest safe level to attempt entry.
after entry watch the mkts.
Is it doing what you thought it should be doing?
are you comfortable with the position?
then be aware that something is happening in the fundamental front.
try to find out if there's any special reason from the news releases.
For dealers, time frame is of no consequence, it is constantly being managed.
Some dealers uses the averages, mostly just look at price levels."
"There are many ways to trade, and for everyone the decision making process is different.
What you have described are very mechanical methodology.
It would be the way to go , if you were a machine.
Try to feel the market, ask yourself questions all the time.
You are not crazy if you ask the questions , only if you listen.
Look at the chart, ask yourself,
what did the market do when it was last at this level, historically?
was this level significant chart wise?
which direction is the market trending?
try to feel if its try to go up or down?
if you have determined the direction, its most likely to go.
if you use indicators, try to determine the nearest safe level to attempt entry.
after entry watch the mkts.
Is it doing what you thought it should be doing?
are you comfortable with the position?
then be aware that something is happening in the fundamental front.
try to find out if there's any special reason from the news releases.
For dealers, time frame is of no consequence, it is constantly being managed.
Some dealers uses the averages, mostly just look at price levels."
ITB - Seeing Orderliness amongst 'Randomness'