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If you've watched those, now consider this chart, hopefully you can see what has happened

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@Caseynotes,

I agree with you that successful traders are not born and are made. Many great 'Trend Followers' state they were inspired by Jesse Livermore. So I agree with you on this point. 

4 hours ago, Caseynotes said:

The best traders are employed by institutions and sit at a desk alongside other traders swapping info and ideas all day long. New traders at a institution's trading desk will get a mentor whether they want one or not.

Not necessarily. From my understanding some of the best traders trade for themselves and make a lot of money. These people will never be in the limelight or media and will be totally under the radar. The people who work for the institutions will be excellent traders who are highly educated and experts in 'Quants'. It does not necessarily mean they are the best traders. A lot of the best end up setting up their own Hedge Fund or create their own trading system which is unique to their trading style, personality and philosophy. So yes Good and Excellent traders are employed by institutions but the very best trade for themselves and make an awful lot of money for themselves. These traders no one ever hears about. The good and excellent traders will get paid a handsome salary from the institutions with commissions. The best traders who trade for themselves will dwarf the incomes of such employees. 

I agree that by putting it down on paper and writing it down will assist. I know it does for me so I can only imagine it does for many others.

As I have stated many times, having a 'Trading Plan' and 'Trading Strategy' is crucial. Once this is in place the traders personality and mindset will allow a creation of a 'Trading Philosophy and Style'  this leads to the use of 'Technical Analysis' in my opinion. I see time and time again traders concentrating on 'Technical Analysis' without a 'Trading Plan'. 'Trading Strategy' and 'Trading Style' even under consideration. The 'Trading Edge' will come with lots of experience afterwards but for many it will never come. That is fine. One does not necessarily have to have a 'Trading Edge' to be profitable or successful but in my opinion the the very most successful and profitable traders do have some form of 'Edge'. 

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On ‎29‎/‎12‎/‎2018 at 14:50, elle said:

If you've watched those, now consider this chart, hopefully you can see what has happened

Capture es.PNG

 

Capture es.PNG

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that supply is being "eaten up "

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On ‎29‎/‎12‎/‎2018 at 16:19, elle said:

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Hi @elle. I'm starting to like your suggested 150EMA. Have you got another EMA favourite that you use?

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Posted (edited)

@Nelsy-Boy the others will have to remain a secret, sorry

Edited by elle

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Swap Zones , a battle between buyers and sellers sometimes happen halfway on a trend . If you see one developing , put your fib on , so the zone is @ the 50% level & then look for price to extend to 100%  . Please note , as usual, this is NOT guaranteed, but useful to look out for.    Here's one that just happened

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