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DislikedHi Cat - I also agree with your friend and I have said many times that its important to know when NOT to trade - which your friend says in a more eloquent manner. There's a good example on the charts right now. From the wide 1m bar back at 12:20 gmt for ~hour it was best to take lunch as many of the big traders did - just look at the volumes! Then as the East Coast US Traders get to work - the first US Open now at 13:00 gmt - it was time to look at the screens again and the Higher Low some 15 mins later (on ultra low volume) suggested a buy and...Ignored
Disliked{quote} I've seen clearer buy opps in my time though, and right now I have a flashing NO ENTRY sign on my H1 chart for buysIgnored
Disliked{quote} Agreed, it wasn't an easy one to see. After exiting that buy it was sit on hands time again until the open of the NYSE Cash, when it was best to watch the US30 as at this time of the day its usually the leader and it was a buy 5 mins later and Dax followed up ward NB There was +ve divergence in both Dow has R1 at 17,833 and its overnight high at 17,843 so this MAY be the area for a sell.....TWT Dow's high is 17,837 for this move, at 17,827 as I type....Ignored
Disliked{quote} I've just alerted people on Carpe Diem to a possible triple top on the Dow just below 850, and Dax seems to have read it like that as well judging by the aggressive pull back off the 5m 200ema. All a bit of a mess atm thoughIgnored
Disliked4 tips to limit distractions while trading: 1. Set a defined trading time each day that you will strictly follow. 2. Inform your loved ones to not disturb you during trading time. 3. Write down the websites that you allow yourself to visit during trading time. 4. Only trading-related material is allowed in your work area. Yomi.Ignored
Disliked{quote} I guess that you've already said Turn Off your cell phone - or set it to Silent.......the later action is more difficult where your wife / girlfriend is involved!Ignored
Disliked{quote} I guess that you've already said Turn Off your cell phone - or set it to Silent.......the later action is more difficult where your wife / girlfriend is involved!Ignored
Disliked{quote} That's if you've still got one after serving your trading apprenticeship!Ignored
DislikedIn trading however, these count for nothing unless you really know what you are doing. Experience and knowledge will result in the positive frame of mind necessary to consistently put on winning trades - you can't put the cart before the horse. {image}Ignored
Disliked{quote} Well at 15,000 + hours on the charts I hope I've done that! As to 15,000 days of wedded apprenticeship - I'm not so certain!!Ignored