Pat494
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There are another couple of very valid and quite hard to avoid pitfalls.
1. Over analysing the position. By that I mean having a number of pet indicators and some say up and some say down. The hard part is that those that got it right last time may well not be the ones to get it right this time. Analysis paralysis can set in.
2. If you are gong to use real time data flow, and if you are not used to it ,it is quite easy to sit there bamboozled by the steady data tick eg 1 minute tick. One feels one can't just get up and walk away from an open position, especially if it is going wrong, to think about it. There isn't time !!
Both points largely governed by your own psychological make-up though !!
The great advantage of EOD is that there is time. I analyse the US markets in the morning UK time and the European and Asian ones at 6pm. If you want more action then have some more indices
good luck
1. Over analysing the position. By that I mean having a number of pet indicators and some say up and some say down. The hard part is that those that got it right last time may well not be the ones to get it right this time. Analysis paralysis can set in.
2. If you are gong to use real time data flow, and if you are not used to it ,it is quite easy to sit there bamboozled by the steady data tick eg 1 minute tick. One feels one can't just get up and walk away from an open position, especially if it is going wrong, to think about it. There isn't time !!
Both points largely governed by your own psychological make-up though !!
The great advantage of EOD is that there is time. I analyse the US markets in the morning UK time and the European and Asian ones at 6pm. If you want more action then have some more indices
good luck