I like to keep things simple. Green candles mean it's going up, red candles mean it's going down. I don't like to have any expectations as you will get burned so often by them. Financially and psycologically. What I want or hope the markets will do is has no basis in reality. I trade the probabilities of a direction happening after taking the price movement and market conditions at that time into consideration. Future events that put the markets in motion will make predictions in both directions, wrong. What happens if a nuclear device explodes in a major city? What happens if a cure for all cancer is found by eating 20 lemons? Anything can happen. Not trying to be flippant but I find it so much easier to just trade on whatever side is right and not think about why.
Really glad to see you posting again Scott. I've been thinking about joining a prop firm to get over the PDT rule, and finally get rid of the big "fear" in my trading.
That's a helpful post, Scott. There's no denying the simplicity of your approach. But, effective simple solutions to complex problems are the very hardest to achieve...
I like to keep things simple. Green candles mean it's going up, red candles mean it's going down. I don't like to have any expectations as you will get burned so often by them. Financially and psycologically. What I want or hope the markets will do is has no basis in reality.
ReplyDeleteI trade the probabilities of a direction happening after taking the price movement and market conditions at that time into consideration.
Future events that put the markets in motion will make predictions in both directions, wrong. What happens if a nuclear device explodes in a major city? What happens if a cure for all cancer is found by eating 20 lemons? Anything can happen.
Not trying to be flippant but I find it so much easier to just trade on whatever side is right and not think about why.
Actually I just saw your same post on another blog...take your spam or attempts to drive traffic to your site somewhere else.
ReplyDeleteSpam removed.
ReplyDeleteReally glad to see you posting again Scott. I've been thinking about joining a prop firm to get over the PDT rule, and finally get rid of the big "fear" in my trading.
ReplyDeleteGood post Scott.... just like you I like to keep it simple.
ReplyDeleteThat's a helpful post, Scott. There's no denying the simplicity of your approach. But, effective simple solutions to complex problems are the very hardest to achieve...
ReplyDelete