XJO 0.46% 7,953.2 s&p/asx 200

Now Zupp I don't want to dissapoint you , but I've got to let...

  1. 1,850 Posts.
    Now Zupp I don't want to dissapoint you , but I've got to let you know we are all on the same level ..in many respects..
    It's us V the market ....we don't really need to have that much intrigate knowlege about the markets.. to make money from them ..I like the KISS principle , and I have to say in my own joureny in trading I have followed all the tragents but have found that comming back to basics works best , in fact the knowlege I had after the first month serves me the best now after all this time.Not so long ago I did some reasearch to try and discover what it is that makes some so called great traders great ..and you know what it came down to what I have heard JD say many times ..patience and confidence ...
    there's not alot to it really.
    SO now I'm going to post some charts and explain a trade I did last night.There's now media gibber involved , no news srories , no computer generated studies, just raw data.
    ON chart 1 the red dots are reference points basicly they show where the market moved out side a range of the previous 50 bars.The red bars are where the volume was higher than average.Knowing that the commercial traders , those with industry knowlege trade in big clips this is where they are most likely to be doing buisness ....its obvious from the outcome that they have bought the market as it as pushed higher on each occasion , assuming they are right makes me think that the best approach is to buy , now I always like to get a bargin and on chart 2 you can see that I placed my order below value .and my exit above it ..thats pretty simple.The second chart is the same as the first except the bars have been made into letters and the time defalt has been removed , compressing the data to show where value is , determined by the widest point on the curve.SO I hope you can see that there wasen't anything complex about my trade.And that should demonstrate to you that my level is pretty basic. There are so many conflicting and confusing things surrounding the markets , but in my experience it's best to just ignor all of it and trade the data, in a simple fashion. Good luck.


 
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