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Dance of the wick

  • #141
  • Jun 6, 10:58am (4 hr ago) Jun 6, 10:58am (4 hr ago)
Quoting ghbdr
Perhaps this helps to see what kind of world one is stepping into and what it truly implies. The traders I’ve met who are true masters of the discipline have invested thousands of hours a year, for years, to acquire that level of knowledge and mastery. Anyone who thinks there’s a shortcut here is better off quitting right now or embracing the commitment it requires. I see it like studying for a master's degree in violin or becoming a kung fu master. Acquiring that level of knowledge and skill in any particular discipline always comes with a cost....
Sadly. I've spent far too many hours concerned with how much energy new and well experienced traders put into their failed studies. Why waste the time. In the end, those who fail to put in the real grind achieve nothing but a can of coffee grounds wasted. 99% of what traders use is utterly worthless. They spend decades (many do) focusing on the charts. They build widgets literally that waste time and provide no true value. Here's my two cents and it's made me millions over the years.

 

  1. charts are irrelevant in the bigger picture
  2. global markets are first.. global.
  3. the auction process determines value.
  4. value leads financial markets just like grandma's fine art. If there's value, people will bid. More art and the price drops. It's simple but complex.
  5. Supply and demand is futile unless you know the following...
  6. Support and resistance are futile unless you know the following...
  7. Fibonacci's are a fools folly when you know the following...
  8. Concepts in trading are used by those in retail that fail...
  9. Retail trades for price action derived movement..
  10. Banks trade when they recognize value leading price.
  11. When you realize it.. for FX specifically. You've been fooled following charts. FX rates are just the mechanism of entry.. but are not the vehicle itself.
  12. The vehicle in Currency Trading is the sovereign instrument... yet you blindsided yourself thinking exchange rates had something to do with it.. only 10% of rate movement provide any insight.. the rest is disclosed in VALUE.

Determine value of a currency before you move money into it. FX Trading is trading of value for value.. not blindly speculating on the one thing you never analyzed.. the value of the underlying currencies.

  • #142
  • Last Post: Jun 6, 12:04pm (3 hr ago) Jun 6, 12:04pm (3 hr ago)
Quoting ghbdr
Perhaps this helps to see what kind of world one is stepping into and what it truly implies. The traders I’ve met who are true masters of the discipline have invested thousands of hours a year, for years, to acquire that level of knowledge and mastery. Anyone who thinks there’s a shortcut here is better off quitting right now or embracing the commitment it requires. I see it like studying for a master's degree in violin or becoming a kung fu master. Acquiring that level of knowledge and skill in any particular discipline always comes with a cost....
hell fucking yes. my journey started 3 years ago and it has been painful, horrible, nights without sleeping, tried new things and put all my faith in them but didn't work out, until it starts clicking slowly and you keep putting the same effort
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