Morning all.
Just mention one thing slightly relevant to the general convo. imo
In terms of trading/DTing, peeps are far too obsessed with 'ideas, information and research', and the 'overuse' of charting I also think is a trap.
For small punters ( those turning over less than $100K a day), you need to be surfing right on the sweet spot of the breaking waves right then and there. No driving up and down the coast looking for better surf. No time for that. We just gotta surf on our local beach and if there's no waves then have a coffee.
Yeh, waves might be better in Mexico atm. Yeh, someone has a new wave dynamics program that can figure out where a wave will break in two weeks times. Nah, not for us folks.
We just get up in the morning, walk down to the ASX beach (cos that is where we live). Look where the surf is breaking and paddle out. If there is a sandbar the waves will dump there. If there is a rip it will take you out to the break but will also drown a few inexperienced swimmers. No matter how much science you employ you can only catch the wave that is there. And you can only ride it for the distance that the wave runs. You are a passenger.
If there are too many peeps trying to catch a wave then you could get knocked off. If you are the only one in a certain spot then prob means the waves aren't breaking there.
Haha. I could go on. But I reckon this is a perfect analogy for trading. Think about what your strategy is and transfer it to surfing.
Is your strategy gonna put you on a great ride to the beach or are you gonna end up cold and sunburnt and dumped near the rocks?
I won't mention the crowds that are paddling aimlessly around the sewage outlets.
Just heading out to check the surf.
