[Soultrader]

Amazing posts guys. Indicators vs discretionary trading.... hard topic indeed.

As I gain trading experience each day, I have personally found that the simpler the method the easier the trading. Im not sure if I mentioned this before but would like to post it again.

A few years ago I was on the phone with my mentor discussing market outlook. In the middle of our conversation her 8 year old daughter interupts and says, "Mommy, why are you so good at reading other traders." This comment coming out of a 8 year old blew my mind. How true can she be!

We are trading other traders. I can not move the markets... the group of big players move the markets. My job is to figure out what they are looking at and follow their footsteps. I try to ride the intraday waves that they move. I often ask myself, "What are they looking at? What are they trying to do?" Why? Because they are usually right.

A trading signal off a EMA is somebody elses bread and butter. If they make money of it good for them. I cant make money of it because its not part of my sytem and methodology. Support and Resitance points, MP, and, pivots are what I am after. Linda Raschke mentioned how she knew a trader who made a decent living trading off one setup. Thats all we really need... one decent setup that gives us an edge.

Big players like to watch for key price levels. Thats when they will step in to buy or sell the market. Which is why I focus on price levels. I always try to place myself in the mind of a big floor trader and what he wants to do.

The difference in opinion and how traders process the same information differently is what makes the markets so fascinating. I learn something new everyday as I trade.... trading can be boring but my mind is always stimulated which makes this profession so much fun.