AllanXT said:
This is really what I have been looking for you know. I read Jesse Livermore's classic to find out what traders did before computers and indicators? How did traders get the job done? You point about using the eyeball and brain is exactly what I'm looking for. Skim has also set me on the same track with some great advice (via PM) about being a "Price Trader".
I am so glad I started this thread. I am very thankful for all of the help from you all. I have lots of work to do and I am working on my "training plan" to get started.
Good trading all,
Allan
Right, what happens here is the following: ~
The Reminescences of a Stock Operator is not really what it is purported to be by countless readers. It is in fact, a textbook. It is a textbook of market conduct written in conversational style.
When I say conduct, this phrase has two meanings, you understand.
Meaning no 1 = proper behaviour.
Meaning no 2 = the correct way for a trader to carry out his business.
It provides for the attentive student several models presented as scenarios, each of which delivers a lesson. But you have to be sufficiently aware to be able to benefit from these lessons. The lesson can be repeated again and again but it is not until the recipient is ready that the lesson either has any meaning or benefit. Therefore the individual has to work on himself / herself to attain higher levels of awareness.
This is a very long and difficult process. The route is very difficult and impossible for many people who try it. took me 27 years of work finally to crack the whole agenda from A ~ Z..
I was able to achieve it because I was told it could not be done. You have to have the right character to persist in this way, against all odds, for so long.
In my experience, and I assure you I have a lot, everybody will tell you they aspire, but when faced with the cliff they have to climb, either give up or try what they believe to be an easy route
~ as I have said before, there are no short cuts.
In going for the easy route, the consequence is that they never develop. When people are not developed they get into knitting circles in the hope that sharing is the route. This is a normal expectation in any profession but not in this one. This is because as a result of being bombarded with opinions, the ability to develop the correct faculties is impaired and finally disabled.
You will all observe that I never ever ask a question.
I only give answers, and I assure you they are always the correct ones, otherwise I stay silent.
This is because I only intervene when I spot an error of principle and, as this is a thread for beginners, the principles they must build on must be the correct ones, and not the opinions that are bandied about for the sake of making posts.
See my post in which I make reference to the difference between and opinion and a view.
