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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Threei who wrote (15218)2/11/2002 4:47:52 PM
From: hypostomus  Read Replies (1) of 18137
 
Vadym - That is not what I meant. I meant that if you watch the market continuously on one minute bars, patterns form and dissipate so fast, and so many times during the day, that common patterns begin to stand out. I believe that in this context much of TA leaps out at you after just a few days of that, whether they are natural psychological phenomena, learned behavior by traders, or coded into trading computers. If I were to introduce someone to trading, I would recommend this exercise first, then a good book like Alan's or a good course like yours for an organized treatment of what they saw happening. I think it is far too easy to read a book, even one a good as Elder's, and get swept up in TA at the expense of a good grounding in pure price and volume action. That is exactly what happened to me. I freely admit that as an autodidact I had a fool for a pupil. - Mike
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