Friday, December 08, 2017 12:58:42 PM
I have learned more from lack of discipline, losses and judgement errors than successes. While successes also can teach they also can lead to complacency and an "I got this" mentality. Constant awareness is key.
Understanding market structure and support/resistance is vital piece to improving trading.
I am still learning as well. It is an ongoing process and a worthwhile journey.
The internet is a great source. Traders combine indicators differently, but for example you can search rsi and see many examples. Understanding the basic function of each indicator and what it actually measures is also very important and helpful.
It is the nature of market, trading and news actions that some trades will always be better than others.
Rule #1. Cut losses short. That means preserve your capital.
There is always another bus in the market station. You should not ride one (buy) without a destination and fire exit location.
Too many have success and relax their rule enforcement thinking they have extra room. Bad idea and increases the odds of failure. Winnings should always become part of the need to preserve pot and absolutely subject to rule #1.
There are many excellent traders and chartists on the hub. I find little nuggets from them all the time.
Green Trades to you.
IDRA
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