If i were to do 10% of what is suggested here, i would need to believe in reincarnation and a couple of lives in bank in order to digest everything that is mentioned. What about searching for a market phenomenon you identify with and trade it. No need to read books of the 19 th century. Monpere said it well in one of his comment here. Now we have reduced the list to one single task instead of 10.
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As far as identifying your setup, I agree. I don't think it is quite that easy nor do I think it may be necessary to all of the steps previously identified. Regardless, the challenge is not getting into a trade. It has been shown that flipping a coin and randomly entering a trade works as long as you know how to manage yourself and the trade once you are in it.
There is a reason why most people have average losing trades - they stay in losers and get out to early on their winners and the reason for that is emotions, mainly fear.
How do you eliminate fear?
How do you handle fear once it shows up?
I never said I was a beginner when it comes to human behavior or that I have never read or watched a lot. However when it comes to actual trading, I'm still at bat working to get to first base.
I do have a strong background in analytical work and I've heard it said several times that this type of background can be detrimental to trading and I can see a lot of truth in that.
The good news, I hope, is that I understand why people fail at trading and what it takes in principle to succeed. What I haven't figured out is how to make me succeed at trading. I'm thinking that a group of like minded people may be able to develop a solution for all of us.
I recently had reason to look at the definition of synergy. This is what Wikipedia says "Synergy may be defined as two or more things functioning together to produce a result not independently obtainable. " Whether Wiki is right or not, I don't care. I like that definition. Now all I need is one or more things (people) working together.
BTW - I haven't joined the elite section of this room. Is it worth the time and effort to join it? The $50 is nothing.