Ok so here's the real deal, I have about 15K of credit debt I have to clear before I start trading again. That's not a problem, I've made a schedule, I'll be debts free with start up capital by January 2012 (minimal seed capital). The problem is that the itch to trade is very strong right now, it's frustrating not being home and having to work, which would imply I have no time to test my strategies (or even develop any), and try out some new toys I found on this website. So I spend my days researching and reading the net.
I know that I am trading even if I am not executing, and that trading is also the pursuit of knowledge and constant discipline, but I wanna put on a #$@#$ trade!
I guess I'm venting a bit since my job is boring, thank god it pays well.
To move on a more positive note, I've been reading the manual on market delta I found on this site, and it's pretty interesting. I don't care about indicators that are not volume based unless they are S/R/pivots which even then are volume based. Moving averages are for speculation, my aim to capitalize on potential trader weakness and over-extension. so I'll be looking a lot into COT, VWAP and price clusters and volumes at S/R.
I will definitely learn something new today and I feel like my mind is a sponge right now.
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Market equilibrium is assumed to be a balance between greed and fear, like Yin and Yang. I guess it's what you could equate as range day.
When the external forces change, the internal relationships between greed and fear change. The market yearns for that equilibrium again and moves.
In Yin and Yang theory one is more aggressive than the other. Yang is male and Yin is female. Yin is soft force, Yang is brute force. In the market, a sell-off is more violent (usually) than a steady buy. You can see that in corrections on up trends or in market panics. Understanding this creates a sens of caution depending on the position we have (long/short) and the opportunities present in different type of markets.
Even in range markets down moves are more pronounced as opposed to a more steady pace on up moves. Of course there are exceptions to the rules but then again it's not a rule, more like an intuitive idea.
The best trading method is to take advantage of the crowd's greed and fear.
@wskid, nice work on your journal so far -- keep it up!
I would recommend you post screenshots in either PNG or JPG format, instead of BMP. If you need software to do this, check out Jing. It's free and you can markup your charts. SnagIt is the big brother version of Jing with more features, but isn't free.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
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