Thinking of trading

This is a discussion on Thinking of trading within the First Steps forums, part of the Reception category; Originally Posted by dbphoenix Not necessarily quick. There was a lot less junk floating around thirty years ago. Since streaming ...

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Old Oct 5, 2017, 9:23am   #9
 
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Quote:
Originally Posted by dbphoenix View Post
Not necessarily quick. There was a lot less junk floating around thirty years ago. Since streaming data became available to the retail trader in the late 90s, the junk has become a deluge.

The best advice I got from HTMMIS was that if one wants to understand the market, study the market, not what somebody says about the market. This virtually eliminates the junk, including the dead ends and blind alleys. All one needs to study the market is a chart -- either live streaming, delayed, or replay -- a tablet, and a box of pencils.
Then the charts would be affected by all this 'junk' as you call it ???
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Old Oct 5, 2017, 11:32am   #10
 
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A chart is nothing more than a record of transactions. There are moments when these transactions can be affected by news, but the effect of the junk -- newsletters, advisory services, BSH recommendations, articles, "analyses", blogs, TV shows and assorted hucksterism -- tends to be self-neutralizing, even more so over a longer term. A weekly chart, for example, is not going to be affected by what some sell-side analyst somewhere said about something or other. Otherwise everybody would be following Abby Joseph Cohen. The chart, therefore, illustrates the dynamics of demand and supply without regard for what any given individual thinks about it. What fuels the demand or the supply is another matter.
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Old Oct 5, 2017, 3:40pm   #11
 
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Theres something to be said for striping things back and writing out your executions on a piece of paper.
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Old Oct 5, 2017, 3:53pm   #12
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Theres something to be said for striping things back and writing out your executions on a piece of paper.
I'd thought you'd prefer photoshop. Why write it when you can paint any picture you want ? $6 wheat, 4k dax, easy piecy.
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Old Oct 5, 2017, 5:20pm   #13
 
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Mind you, theres always some wonker out there piling up risk trying to work themselves straight who wouldnt have much to write
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