Price action with Candlestick Analysis(No indicators)
- Thread starter hik
- Start date
and my post was to indicate how much hard work and perseverance is needed 
.
Recently read 'One Good Trade' by Mike Bellafiore. One of the important things i got from it was the level of hard work, commitment needed to survive in the world of trading. The guys they train are top notch. One of the guys he mentioned has photographic memory, most are former athletes( one qualified for 2004 Olympics swimming ). They keep detailed record of everything, even record their sessions and watch them later. He mentioned in one place that JToma( one of the traders), after going to hotel room stared at the ceiling reviewed his session tick for tick, imagine that...
So, these are the type of people we are trading against, filled with passion for trading, focused, talented, committed and definitely better trained and with better resources than us.
It has motivated me to do more hard work and focus on improving my learning methods. It's a good read and i would suggest you too to go through it.. it will surely motivate you too..
Regards
.Recently read 'One Good Trade' by Mike Bellafiore. One of the important things i got from it was the level of hard work, commitment needed to survive in the world of trading. The guys they train are top notch. One of the guys he mentioned has photographic memory, most are former athletes( one qualified for 2004 Olympics swimming ). They keep detailed record of everything, even record their sessions and watch them later. He mentioned in one place that JToma( one of the traders), after going to hotel room stared at the ceiling reviewed his session tick for tick, imagine that...
So, these are the type of people we are trading against, filled with passion for trading, focused, talented, committed and definitely better trained and with better resources than us.
It has motivated me to do more hard work and focus on improving my learning methods. It's a good read and i would suggest you too to go through it.. it will surely motivate you too
..Regards
and my post was to indicate how much hard work and perseverance is needed .
Recently read 'One Good Trade' by Mike Bellafiore. One of the important things i got from it was the level of hard work, commitment needed to survive in the world of trading. The guys they train are top notch. One of the guys he mentioned has photographic memory, most are former athletes( one qualified for 2004 Olympics swimming ). They keep detailed record of everything, even record their sessions and watch them later. He mentioned in one place that JToma( one of the traders), after going to hotel room stared at the ceiling reviewed his session tick for tick, imagine that...
So, these are the type of people we are trading against, filled with passion for trading, focused, talented, committed and definitely better trained and with better resources than us.
It has motivated me to do more hard work and focus on improving my learning methods. It's a good read and i would suggest you too to go through it.. it will surely motivate you too..
Regards
.Recently read 'One Good Trade' by Mike Bellafiore. One of the important things i got from it was the level of hard work, commitment needed to survive in the world of trading. The guys they train are top notch. One of the guys he mentioned has photographic memory, most are former athletes( one qualified for 2004 Olympics swimming ). They keep detailed record of everything, even record their sessions and watch them later. He mentioned in one place that JToma( one of the traders), after going to hotel room stared at the ceiling reviewed his session tick for tick, imagine that...
So, these are the type of people we are trading against, filled with passion for trading, focused, talented, committed and definitely better trained and with better resources than us.
It has motivated me to do more hard work and focus on improving my learning methods. It's a good read and i would suggest you too to go through it.. it will surely motivate you too
..Regards
Yes visualization techniques are useful.
I have been doing this since 1.5 months. Just observing the charts , identifying potential trade possibilities . As long as i draw my support/resistance lines accurately , there is no problem going through the process. Forming a bias(bullish/bearish) even without looking at the candles carefully. Thats that main problem I faced. We just have to keep an open mind during learning process
My process is imple , just like lance beggs outlined.
Unlike you , during the process i'd like to deal with as small detail as possible in order not to get confused. I go to 30min/1hr chart and then draw my support/resistance lines .
After that I go to 5min chart. I will not be looking at entries or the M1 chart at all when price is inbetween the higher timeframe S/R. Until price reaches either end of higher timeframe S/R , I will assess the strength of the Direction by seeing projections,momentum etc as it hits the S/R .
I keep a watch list of 3-4 companies hich have decent volume. So, What im interested are only Breakout pullback / Break out failure / Test of support/resistance setups.
No matter how tempting it might seem i dont never take pullback/complex back trades. Just like lance beggs mentioned if i feel that I am good at only SOME types of setups then i increase my watch list And for only these particular trades.
Since im not trading yet, ikeep an eye of the price when reaches a higher timeframe S/R. Then i get ready for
Imagining the future price action .I will demonstrate this on a chart.
Unlike you , during the process i'd like to deal with as small detail as possible in order not to get confused. I go to 30min/1hr chart and then draw my support/resistance lines .
After that I go to 5min chart. I will not be looking at entries or the M1 chart at all when price is inbetween the higher timeframe S/R. Until price reaches either end of higher timeframe S/R , I will assess the strength of the Direction by seeing projections,momentum etc as it hits the S/R .
I keep a watch list of 3-4 companies hich have decent volume. So, What im interested are only Breakout pullback / Break out failure / Test of support/resistance setups.
No matter how tempting it might seem i dont never take pullback/complex back trades. Just like lance beggs mentioned if i feel that I am good at only SOME types of setups then i increase my watch list And for only these particular trades.
Since im not trading yet, ikeep an eye of the price when reaches a higher timeframe S/R. Then i get ready for
Imagining the future price action .I will demonstrate this on a chart.
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