My approach to trading had always been one of technical nature. That's how I trade and I don't know a better way. There are lots of tools available in technical analysis and a very high percentage is useless to me. I do think that technical trading is very subjective and completely dependent on how the tools are perceived and used. I find people using certain tools with great success which are completely useless to me and vice versa. It's like looking at the stars and depicting the great wagon or other constellations. The stars and the universe don't know anythign about these patterns. It is all in the eye of the beholder.
That's how I perceive technical trading. I would actually call it 'pattern trading'. You look for patterns that frequently repeat in certain situations and you hone in on them. Eventually pattern recognition becomes automatic. Someone, I forgot the name, likened it to the waves in the ocean...
The tools I have learned to work best for me can be better understood by checking out the two links in my previous post.
When I first started to learn to trade with medianlines I had previously gone through a long period of trying out various tools and methods. At some point I started trading a small live account thinking that I was ready for trading (or the trading world was ready for me) and quickly realized that I was totally lost on all bases. I had no trading plan in any form or fashion. I did not know how to apply tools consistently or what to trust nor did I trust myself. There was not much of a money management plan in place. Quite frankly I was completely clueless. Stumbling upon Tim Morge's work with medianlines was like an epiphany. For the first time I had a tool to work with that felt right and made so much sense. It was also the first time that I got to see a truly professional and seasoned trader at work. I studied Tim's work, took a couple of seminars with him and knew that going forth this was going to be an essential ingredient in my trading plan. What I didn't have yet were many other things...(to be continued)
Saturday, August 4, 2007
Trading Style (and a bit of history) Pt.1
at
2:09 PM
Labels: medianlines, technical analysis, Tim Morge, tools
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment