I lately began a serial of posts for developing traders, outlining what I wishing I had been taught when I starting fourth dimension began next markets together with trading.
I'm pleased to run into that Bill Luby from Vix together with More has picked upwards the theme together with offered the iii things he wishes he had been taught at the outset of his trading career. (See every bit good Bill's worthwhile post on stages of a trader's development).
I volition hold upwards resuming my serial this weekend, but for similar a shot merely desire to add together 1 especial to Bill's splendid list:
I wishing I had been taught the importance of fellowship stream inward determining marketplace grade movements over brusk fourth dimension periods: that the participants that displace markets on longer fourth dimension frames are unlike from those who displace markets on brusk fourth dimension frames. One of import commutation to profitable trading is knowing who is participating at *your* fourth dimension frame together with agreement how they are positioned.
Much faulty trading occurs because trades are conceptualized at a fourth dimension frame unlike from the ones inward which they are genuinely managed. For example, a trader mightiness hold upwards bullish because of economical news, but volition merchandise off of minute-by-minute information together with neglect to read the book stream information occurring at that shorter fourth dimension frame. They halt upwards beingness correct inward their view, but incorrect inward their timing--and losing coin every bit a result.
More on this theme inward my series.
If other bloggers wishing to expand on the theme together with portion their sense of "what I wishing I had been taught" alongside developing traders, I volition gladly link to their posts. Just transportation the URL to the electronic mail address listed inward the "About Me" department of the blog.
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