UWRL, moves on air.
Moderator: curtbs Assistants: RhubarbBoardmarks: 20
Created: 5/12/2007 2:26:55 PM
MAKE THE CHART AND THE CROWD WILL FOLLOW
However, if one truely desires to excel as a trader, one must learn to think independently of others, to think completely "out of the box." As traders, there exists a dire need at times to be proactive vs reactive. Traders create market reaction at times, they don't merely respond to it. In other words, they single handedly move markets when they can, not merely react to them. Those players who are using a trading approach that hinges largerly on the constant movement and actions of others are really followers, not traders. Acting confidently, independently, and with great certainty is a must in the high stakes game of trading, but this only becomes possible if one is acting on ones own knowledge and conviction. To a certain extent it is wise to follow "smart money." That's what charting is all about. To many traders do nothing because they have not received confirmation from others. But once independent traders decide what their action will be, they should need no confirmation from others before leaping into action. Example: "Maybe I'll wait to see if volumn picks up." "Let's see if it can move up one more tick." "Let's see if the market makers start to lift, or the size of the offer gets smaller." "I'll wait until NITE leaves the offer." They know what they want to do, and believe in it enought to leap into action whenever there sound approach gives them the OK. This is being independent. This is being a trader. And it is the key to not only being happy, but profitable.
Stocks I own and move very easy:
UWRL,NVMG
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." -- Warren Buffet
