Having the discipline to wait for price setup to present itself
|May 10th, 2012, 04:48 PM||#11 (permalink)|
Trading for Fun
Futures Experience: Advanced
Favorite Futures: Stocks
Posts: 127 since Mar 2011
Thanks: 96 given, 85 received
I am a discretionary trader.
I have thousands of hours of screen time and thousands of backtesting.
When I look at chart I usually see nothing, but maybe once or twice a day I see a pattern which I know works, so I enter and most of the time win. After some time passes by, the pattern may not be visible any more, but in real time it's there.
This pattern has nothing to do with head and shoulders and other idiocies. It is everything, the whole feeling of the price of different charts of everything. In that special moment you know you've seen the market act like that so you just enter the trade. It's a rush decision.
It can be some dude dumping a large order and moving a market the wrong way, it could be anything, stops, this and that.
Last edited by ReaM; May 10th, 2012 at 05:23 PM.
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