We've all been there and done these things. It just takes time and i'd say as you are removing unecessary chart indicators etc you are moving to an understanding of price, which will pay for the long run. The Gomi Vol ladder I'm looking into to help me keep in trades (looking to exit when volume ratios etc shift). It's a useful tool I think if I can find it's value. Thanks for posting it! The markets fundamentally will not change as they are based on universal principles. Have a great weekend!
The following user says Thank You to ZCars for this post:
Regarding the Gomi Vol Ladder indicator, I tried to figure out what the red and green horizontal boxes above each price bar stand for. No luck yet. If you know after exploring it, sincerely hope that you will give me a shout. Thanks in advance.
There're many great indicators out there. Would be great if they come with more instructions for newbies .. sigh .. Well ..
Yes, let's have a Great weekend everyone!! Party Time .. haha ..
ES broke its VPC (Virgin or Naked Point of Control) @1186.25 and went down to 1183.50 in a straight smooth drive. I started paying more attention to the price bars esp their Open and Close. A good sign for my learning .. haha ..
Finally fed my belly (late lunch) and I'm done with trading for now ..
It's very sunny here (about 25 degr C) and I will go out for a short walk .. smile ..
Great job as usual on laying out clear steps on what to do next (planning). My only advice at this point would be to continue trying to simplify things. In my opinion, you will continue (anyone would, not just you) to make "mistakes" when you have lots of information. In reality, this is not a real mistake. It's just that when your trying to process too much information, you end up making a mistake with the analysis due to too much contradicting info.
It is perceived as a mistake after the fact, because after the fact you have the benefit of hindsight. Things will always look more clear in hindsight. It's the hindsight 20/20 indicator, and it's always right.
So my advice is just continue to work on simplifying. That way you won't have contradicting information and won't be prone to these "mistakes" (which, again, aren't really mistakes). I don't want to go too far with my reply here, but basically you can read my "indicators are evil" post on my blog to know my full feelings on this
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post:
It's very useful for me (newbie to MP) + he emphasized the importance of trading as follows:
1. Price (Market Profile)
3. Indicators or Oscillators (last on the list)!!
Oh, Nelson had an unexpected accident last night when cleaning some windows. The wind was very strong and one clashed on him .. sigh .. His forehead now has a 1.5" crack. This morning we went to emergency and he feels a little better now (hoping it won't leave a big scar) .. Will take good care of him this weekend.
Now you have a glimpse of my "baby" boy who's very surprised that I made him a birthday cake. Oh, I used strawberries and blackberries for deco + fresh mango in the middle .. Yummy "I think" .. It's a no-baking one and very easy/simple to make .. haha ..
I love baking. It's going to be my anchor for not over-trading (stay with my 1 trade/day rule). When a baking attempt failed, I had not been making a second attempt immediately. This will save me putting a sticker on my nose as a reminder LOL!
I believe in Karma ... Your best wishes across space and distance will speed up N's recovery. Thank you!
Enjoy a Lovely weekend.
Last edited by wgreenie; May 1st, 2010 at 02:30 PM.
The following user says Thank You to wgreenie for this post: