In the beginning, when I first looked at charts I tried to look at it with a mathematical perspective. I tried to understand the seemingly symmetrical movements of the market. I tried to have an objective look at the market but being ill equipped about technicals, I soon abandoned the notion.
After engaging in some chats, I came to be a funnymental news trader. It was the natural way to go. Everyone else was doing it. So after almost losing my shirt, I needed to go back to technicals. It was the only way to really understand how things moved. Certainly, after so many hundreds of years of trading, someone would have documented some truths about trading. You don’t need to buy a book. Everything is online.
The truth in trading is, everything is technical. Yeah yeah sure sure news this and that, but in the end it is still technical. The market does not move randomly. It requires to accumulate and distribute to move the market up or down. So simple. The symmetry I knew of before came back. I understood momentum and I understood support and resistance. And I finally understood how the market moves.
So read up on all the truths about trading and get technical but then there is one more hurdle in your journey. Daily you are bombarded with stupidity. It doesn’t matter where you turn there is stupidity continuously suggesting this and that, contrary to what you know to be technical. And so you have an illness. Some people identifying it as an “emotional” issue. You can’t trade what you read. You can’t trade what you see and you get shaken out of your trade too early or not soon enough.
“I saw it. I read it. But I still traded against it or didn’t trade it at all.” Sound familiar? This is the final stage of your metamorphosis. What is the real problem? Attachment. It isn’t emotional. It is what separates you from the beginner to the advance trader. You are still clinging onto the stupidity you once knew before and you are not letting your technical understanding of the market lead you. You are mindful of your trade and your grasp of the technicals waver. It is like training all your life for the Olympics. You have had the best training. The best nutrition. The best physical conditioning. When your moment comes, you doubt.
Doubt is easy to fix. Find out what you think is missing from your understanding. If you have doubt then there is something you have not sold your mind into believing. Perhaps you didn’t get everything. But if that isn’t the case…it is attachment.
Trade with no mind. Get out of your way.