If you are very new to trading, this may or may not help you.

Jason101

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Today after about 9 months of trading part time. I suddenly realised that when looking at the charts I no longer saw price moving up and down. But I automatically registered what I was viewing as people and institutions desperate to push in different directions. I took several trades without even considering the price. After a dramatic drop in the price my first thought was not why, but there must have been a lot of poor buggers that had just had their stops hit just below this support level. This change in thinking about the markets seemed to come from nowhere.

I am currently studying 10 min charts, up to a few months ago I was looking at the dailies. When I saw the above mentioned drop I panned out to the 1 hour and found a support line I had drawn months ago, while working through Tom’s MMT thread. The price played this line to the exact pip, on the 10 min time frame.

I guess what I am trying to say is that sometimes you may feel as though you are getting nowhere, in actual fact you are but you do not realise it.

I started out by learning pure price action (through places such as MMT) and I am only now beginning to look at indicators, (on smaller time frames). I believe this is a good way round to do it. So you have an understanding of market behaviour, before learning different techniques for reviewing and visualising what has already happened in the markets through the use of indicators which I believe can be useful to concentrate the mind on what has been going on.

Anyway I hope this may be of some help to some people just starting out on this road.

Kind Regards

Jason
 
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