Well, lets hope this turns into a meaningful and venturous gain to myself and to many.
1. Main Concept = Perpetual Motion
The market is in constant change and motion. If you are waiting around to enter the market at the perfect timing, you are not seeing the market for what it really is. A living, breathing entity in constant motion, movement and change. If we are not with the market every step of that movement/time continum, than what are we doing even trading?
2. Fluidity Concept = Reaction Potential
Because of the highly distinguishable fluidity in the forex market, the only constant that carries any ounce of true weight and truthfullness to traders is our reaction to that constant fluidity. Constant fluidity is however a double edged sword, and one that can cut hard, sharp and deep, when what you just reacted to is the wrong thing to have reacted with. So, knowing that you can react badly or wrongly brings up the concept of how to react rightly and goodly to the current market conditions. This is accomplished no easier than comparing apples to apples. However, most traders out there, continue day after day to compare apples to oranges, all the while mistaken that they are comparing apples to apples.
3. Trading Apples/Oranges = Failed Trading Practices
Believe it or not, this is the trading norm, and involves comparing data from one trading aspect and relating that data to a completely different set of criteria, all the while convincing yourself it is the perfect moment to make that trade you have been waiting for. Only to find, once again, you were wrong and the market was right. Once again showing the world how unprepared you were in both the entering and exiting of your perfect trade. 99.9% of the time this is manefested through the use of indicators on your chart. One indicator tells you one thing and than compare that indicator to price action or some other variable which has no comparrisive representation to your original comparrison. Thus giving you the apples to oranges mentality that has no business in trading. This will only lead to broken trades, badly compared data, resulting in inconsistent results at best.
4. Trading Apples/Apples = Consistent Trading Practices
This statement is all well and good, except one thing. The ability to actually be able to realistically compare apples to apples is a process that will elude you unless you are actually comparing apples to apples. And if you are like 99% of the chartists, you will be unable to accomplish this crucial step to becoming a consistant trader. Why? Because everything you are studying is too wildly inconsistent to proof positive winning and consistent reasults. There is only one way to accomplish this that I have found and it has to do only with the intake and processing of consistent data and compare it to other consistent data, regardless whether it is related or not. Now, in the ability to compare data to data, you are in a sense comparing apples to apples and giving your mindset a much needed transformation during the trading to win process.
5. Raw Data = The Key Success
I am not going to really get into with anyone as to the type of specific data you might feel is the most important to use. The fact is that even in using data, we are all still as likely to be very different traders, and our data will be reflected in the type of data that we collect. In fact, the amount or type of data is really endless and there is no way that you could even begin to collect every piece of data. With that said, I am going to lay down some data guidlines that I feel is important to my style of trading in hopes others will find it useful and I will even learn more than I do today about successful trading. This is no "set-in-stone" thing. I encourage all who see the potential here of really getting into this with me! I look forward to the knowledge we can amass together.
A Little History.......
In July of 2011, I will be startig chemotherapy for Non-Hodgkins Lymphoma of the left testicle, brain and CSF, though thank goodness not all at once. My treatment is very strong and made to kill and the prognosis looks fantastic at this point in time. I will be out for many days at a time, and besides being a full-time nursing student locally, I trade forex. So, with that said, I will stay as dedicated to this thread as I can and hope for lots of feedback from my friends in the forex business.
Specifics.....
1. Daily Candlesticks Only
back later....as now I need a break!
1. Main Concept = Perpetual Motion
The market is in constant change and motion. If you are waiting around to enter the market at the perfect timing, you are not seeing the market for what it really is. A living, breathing entity in constant motion, movement and change. If we are not with the market every step of that movement/time continum, than what are we doing even trading?
2. Fluidity Concept = Reaction Potential
Because of the highly distinguishable fluidity in the forex market, the only constant that carries any ounce of true weight and truthfullness to traders is our reaction to that constant fluidity. Constant fluidity is however a double edged sword, and one that can cut hard, sharp and deep, when what you just reacted to is the wrong thing to have reacted with. So, knowing that you can react badly or wrongly brings up the concept of how to react rightly and goodly to the current market conditions. This is accomplished no easier than comparing apples to apples. However, most traders out there, continue day after day to compare apples to oranges, all the while mistaken that they are comparing apples to apples.
3. Trading Apples/Oranges = Failed Trading Practices
Believe it or not, this is the trading norm, and involves comparing data from one trading aspect and relating that data to a completely different set of criteria, all the while convincing yourself it is the perfect moment to make that trade you have been waiting for. Only to find, once again, you were wrong and the market was right. Once again showing the world how unprepared you were in both the entering and exiting of your perfect trade. 99.9% of the time this is manefested through the use of indicators on your chart. One indicator tells you one thing and than compare that indicator to price action or some other variable which has no comparrisive representation to your original comparrison. Thus giving you the apples to oranges mentality that has no business in trading. This will only lead to broken trades, badly compared data, resulting in inconsistent results at best.
4. Trading Apples/Apples = Consistent Trading Practices
This statement is all well and good, except one thing. The ability to actually be able to realistically compare apples to apples is a process that will elude you unless you are actually comparing apples to apples. And if you are like 99% of the chartists, you will be unable to accomplish this crucial step to becoming a consistant trader. Why? Because everything you are studying is too wildly inconsistent to proof positive winning and consistent reasults. There is only one way to accomplish this that I have found and it has to do only with the intake and processing of consistent data and compare it to other consistent data, regardless whether it is related or not. Now, in the ability to compare data to data, you are in a sense comparing apples to apples and giving your mindset a much needed transformation during the trading to win process.
5. Raw Data = The Key Success
I am not going to really get into with anyone as to the type of specific data you might feel is the most important to use. The fact is that even in using data, we are all still as likely to be very different traders, and our data will be reflected in the type of data that we collect. In fact, the amount or type of data is really endless and there is no way that you could even begin to collect every piece of data. With that said, I am going to lay down some data guidlines that I feel is important to my style of trading in hopes others will find it useful and I will even learn more than I do today about successful trading. This is no "set-in-stone" thing. I encourage all who see the potential here of really getting into this with me! I look forward to the knowledge we can amass together.
A Little History.......
In July of 2011, I will be startig chemotherapy for Non-Hodgkins Lymphoma of the left testicle, brain and CSF, though thank goodness not all at once. My treatment is very strong and made to kill and the prognosis looks fantastic at this point in time. I will be out for many days at a time, and besides being a full-time nursing student locally, I trade forex. So, with that said, I will stay as dedicated to this thread as I can and hope for lots of feedback from my friends in the forex business.
Specifics.....
1. Daily Candlesticks Only
back later....as now I need a break!
"Keep your eyes on the helpers" - Mr. Rogers
