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Strategies & Market Trends : Daytrading Psychology

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To: russet who wrote (87)12/4/2000 7:15:28 AM
From: Threei   of 104
 
russett,

I, too, support Dans and Brandon's point of view. To me your list of musts and statement "The market is pure psychology in the short term, and nothing else" somewhat contradict to each other. Psychology of players in short term could be read and utilized from the chart (tape), and as long as one controls his risk and follows principles of tape (chart) reading, he/she can be successful in trading. I do agree with Dan in that deep knowledge of details surrounding company could lead to forming of the opinion. Eventually it leads to creating of the map in one's mind. One becomes likely to follow one's map rather than territory, and the territory is stock movement - the only thing that really matters.
It is a hard work, just subject of this work is different from what that list contains.

Vadym
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