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Strategies & Market Trends : Trading For A Living

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To: CountofMoneyCristo who wrote (585)	6/28/1998 4:48:00 PM
From: Nazbuster	Read Replies (1) of 1729

Goldfinger, A trader is successful because he builds up a sixth sense that can detect a change in market sentiment a mile away, and then react on that knowledge instantly, which generally means overhauling one's entire trading strategy. I'm in the middle of reading several books on trading/TA to get educated. (Trading for a Living [Elder], Using Technical Analysis [Pistolese], The Technical Analysis Course Meyers, and The TAO of Trading [Koppel]) Your comment (above) is what worries me about the whole activity. Learning TA doesn't seem too difficult but does involve a lot of new concepts/formulas/methods which will take time to absorb. The problem is that many TA indicators can be misinterpreted with disastrous results! I frequently see these authors point to charts for examples of principles where earlier in the chart was the same formation with the opposite behavior following the event than the behavior used to illustrate the point. Are you finding that your "instincts" are guiding your trading or do you use more quantitative methods and rely on your "6th sense" only as an insurance policy?

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