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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: hypostomus who wrote (15196)	2/8/2002 8:34:35 PM
From: KymarFye	Read Replies (2) \| Respond to of 18137

On the radio a few weeks ago, I heard a motto of wilderness adventurers that I think applies very well to all aspects of trading (as well as to other walks of life): "Good judgment comes from experience. Experience comes from bad judgment." So I agree with the last part of your post about "it" not sinking until you do it, and the best lessons being the ones learned the hard way. If you're like me, you might have to make the same stupid mistake so many times that it virtually becomes a habit to UN-learn before you're able to avoid it. Ditto for all the things I've tried that either didn't work or that for whatever reason I was unable to make work. So maybe the most important thing is to start with enough capital to make yourself able to afford seemingly endless strings of disaster while you're exploring and learning, and then afford likewise seemingly endless periods of despair and self-sabotage while you're settling down and un-learning. On the other hand, there's no reason to re-invent the wheel - and the axle, and the cart, and the horse. To use your example, if I wanted to learn about ants, I would definitely read some books, and, if I were serious about the study, I'd probably want to take some courses, too. As for tracking "nominal price," tick data, T&S, and so on - might be worth doing, but would certainly depend on what style or approach you were intending to pursue. Unless you knew what you were looking for, gazing at all those squiggles and numbers might be worthless - not to mention rather extremely boring. And I don't see how the beginner is going to make much of SMAs, Fib levels, round number action, tweezers bottom, etc., or even know what they are, without consulting reference works and/or experienced individuals.

To: hypostomus who wrote (15196)	2/10/2002 9:35:19 PM
From: MechanicalMethod	Read Replies (1) \| Respond to of 18137

"If you want to learn about ants, you watch ants, not take a course or read a book." Mike, I've been meaning to comment on that. Sorry it's taken so long to get to it. I relate to it, even to the point of having been fascinated by ants in my childhood and studying them. :) It's a brilliant analogy and the best advice I've seen in quite awhile. Best regards, MM

To: hypostomus who wrote (15196)	2/11/2002 7:14:38 AM
From: Threei	Read Replies (1) \| Respond to of 18137

If you want to learn about ants, you watch ants, not take a course or read a book. Hmmmm.... your post refers to "time durations, periodicity, predictability, short term simple moving averages (5, 10, 15, 20 periods), trend lines, Fibonacci levels, v- or tweezers-bottom, a second higher bar, price crosses the 5ma, a third higher bar, the 5 ma turns up, price crosses the 15ma" etc. You don't mean you learned all this, including the very terminology used, from watching the market with no single book or course or help of experienced traders that did read those books? Best regards, Vad

To: hypostomus who wrote (15196)	2/14/2002 9:32:17 AM
From: wildandwonderful	Read Replies (1) \| Respond to of 18137

Thanks for your response. I have been watching Ants for the past couple of years and not as intently as you suggested and realized that there is more to trading than watching ants. There is only so much one can learn from their movements, and if you want to be expert in ants you need to dig deeper than the movements (price fluctuations). I need to compress my learning curve,Road to trading is littered with corpses and I dont want to be one of them with Ants crawling all over me Thanks