[Reaver]

OUTSTANDING POST FEB!
Wow, like Soultrader said, you definitely stepped the thread up a notch or two.

Excellent advice.

	Quote:	feb2865
	Some advice here from an old dog Newbies has this tendency to look for this formula (I am not necesarily talking about the holy grail) that will make them comfortable and will give them confidence about what thier doing. That's why the switch from Fibbonaci, to RSI, to Stochs, ect ect etc. At the end they're frustarted because they don't know what they're doing. This is the point where they start to blow off their accounts. Even losing in paper is frustrating becuase you lose confidence not only in the market but within yourself. The problem is that they rely blindly on that formula, indicator, marker, etc whitout knowing what's really happening on the market. "When the RSI have a divergence with price, you sell/buy" or "when the market bounces off 61% fib level you buy/sell" They take the signal and most often than not, the market turns around against them. Sounds familiar doesn't it?? Don't quit. Just stop trading for a while Please forget about tape reading, market profile, moving average crossovers, I mean...no strategy no technique...nothing Clear off your charts. You're going to draw two horizontal lines. Up/Down. Up for the uptrend and down for the downmove That's it Use lower time frames. I'll suggest 2 and 5 minutes. After a while put 30 minutes charts to see the trend for the day You're going to look for how the market accepts or reject certain levels(area) during the day Check in what area(not price) the market loses steam. Then reverses. Place a line in there. Practice that for a while. check 'n see how many times the market went back to that area. Now the market went to another area (shifted). Then look to where it stopped and lost steam. Also check how fast/slow the market reach to that area. Look for correlation between time frames. Soon you're going to see that there's a "bracket" in your charts rigth?? well, check if the market breaks this "bracket" and see how it goes Please don't put a time table over this practice. You have all the time of the world and nobody is pushing you............... Relax Now seems that you know what's happening rigth? You're opening the market chest and watching how the heart beats. Before, you had no idea. You know there was a heart pumping. Now you see it Very soon this practice will start to make sense to you and when that happens, incorporate daily pivot points. Then you take it from there. Take your time. Like I said before...relax. Again, don't trade. Don't even paper trade. Markets are based on laws of supply and demand. That's the real core. You're just watching when these forces shifts. Stop forcing you to be succesful in the market. I assure you that will cripple the ability to understand what's going on. It's good , well I should say, it's necessary to have a drive in order to be succesful. But here you need a "controlled" drive. You'll get that with experience. Don't worry, you'll make it Souldtrader has a wonderful site . Stay around. Ther's plenty of wonderful and experienced traders here willing to help. Don't put a time table in your learning process. I have the feeling you've just read many books, articles about tthe markets, how to trade, etc. If it's so, stop reading. You don't need more technique. You need practice and patience. I suggest don't even come close to tape reading. Not yet. Tape reading is diffcult and traders outhere are in conflict on how the tape should be used. You don't need more confusion. You need clarity so you have a free mind and be able to understand what you're doing. Sorry for the long post Regards Raul