The trading system that I use, is almost purely visual. It relies on price and volume, and 2 other simple indicators, based on candlestick charting. Am in the process of trading this system using virtual money for about a month before I go full-steam ahead using real mon$y. Will be posting all my virtual trades online for reviews and comments to help me hone and refine this system. I believe the Holy Grail does exist, but it is the trader who is the Holy Grail, and not the system. Human psychology of fear and greed cripples a trader in the market place and renders him unable to make a logical decision. This system has a strict stock selection criteria, and the most stringest of filters to enable only the most potentially profitable option plays are left after scanning the basket of stocks.
Will be posting all my virtual trades online for reviews and comments to help me become a better trader. Stay tuned.
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2 comments:
Hi there Benjamin, I'm interested in what you said, particularly about the Holy Grail being the user. I was a stock trader a few years back, and was heavily involved in the Asian financial crisis. I learned my lesson from that, and nowadays never look at the system as an answer to my problems, but see the system as being a problem in itself for me to overcome and master. I believe strongly in the neuropsychological aspects of the game of trading, and can affirm and attest that it is entirely up to each individual's sense of self-worth, confidence, and elan that pre-determines the conceptualisation of a trader's wealth - simply speaking, the status quo is what a trader who wants to be successful will buck, because he no longer works within the system, nor even outside the system, but WITH the system, in complete mastery of all its subtle nuances and micro-fluctuations; he does this in order to firmly and resolutely establish his presence and his jurisdiction over the market, relative to the other viewers and traders. So keep up the good work, and tell me what you think of my simple theory :)
-Thomas
Hi Thomas, thanks for leaving your comments. Appreciate your thoughts and opinions. I agree with you that I feel that the trader plays an important role in trading, and that the system is not the most important part of trading. I believe ones attitude in the market, will determine his altitude attained in it. Approach the market with discipline and respect, and one will be rewarded richly. Approach the market with a weak game plan and poor discipline, and the market takes away money from you.
Have also read Trading in the Zone sometime ago, and I find that that book had been rather helpful. It is similiar to basketball players (Eg: Tracy McGrady), who often feels at the top of his game, and can make shot after shot with confidence, knowing that they are performing at their peak and believing in themselves. Likewise, few traders have attained that level of confidence in the market, knowing that they have what it takes to make money in this game. I hope one day to be able to attain that level of self-mastery within myself, and with the system.
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