Professional traders find trading is boring , because they rarely trade and are usually bored with the market.The market rarely offers them good exciting trading opportunities ,they don't exist everyday or every week in the markets , they are sitting bored.Professionals understand trading psychology , mistakes that traders make and they keep trading simple.Professionals make fewer mistakes and they have a good trading plan.
Amateur idiots don't understand scalpers ,daytraders and trend traders have odds stacked against them , these trading methods are not suitable to make money.They can't time the markets and markets trends fail 80% of the time .They trade scalping several times a day , trend trading and losing 80% of the time due to their mindsets .They do not understand trading psychology , and why the human brain is wired to lose in the markets.Amateurs make many more mistakes.Amateurs lack a good plan.
Professionals trade psychologically correct method with an edge , amateurs trade methods and systems that are detrimental to their success.These amateur methods arouse psychological demons and cause them to make a lot of mistakes.
Planning and executing involve different skills that draw upon different parts of the brain. Planning the trade is largely a function of your intellect, the prefrontal cortex PFC. You create your plan in a relatively calm state of mind with your PFC in charge. But when it comes time to execute the plan, other areas of your brain will become involved. Traders have zero edge , unless you have a mental edge .All your delusional edges are worth zero , if you can't execute your edge.This is a statement according to Mark Douglas.He preached patience, discipline and eliminating errors.
Mark Douglas - MIND OVER MARKET (Full length Interview)
"No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation," he wrote.
Here is something else he wrote on the secret to success.
"If there is such a thing as a secret to the nature of trading, this is it: At the very core of one's ability 1) to trade without fear or overconfidence, 2) perceive what the market is offering from its perspective, 3) stay completely focused in the "now moment opportunity flow," and 4) spontaneously enter the 'zone,' it is a strong virtually unshakeable belief in an uncertain outcome with an edge in your favor.
Price action relies on timing the markets , but this has been proven to be too difficult for most , according to this article below and free google searches .
The third most important reason is , traders using subjective price action most are set to be defeated with mind traps , there is thread on it in the psychology section.Human mind traps are the same , if applied to trading or any other activity.
In conclusion Mark Douglas, one of the greatest trading educators and authors of our time , taught us the opposite of the fake philosophy for trading genuises who only sell education, but can't trade .His 10 rules contradict with the application of price action education of James 16 .
1. Be rigid with rules, flexible with targets.
2. Focus on opportunities that provide an edge.
3. Trade free of expectations of being right or wrong.
4. Synchronise your mind to the truth of the market.
5. Beleive in uncertanity (The market can do anything)
6. Be flexible so as to perceive with the greatest degree of clarity and objectivity of what the market is offering from its perspective.
7. Be careful what you project into the future because nothing has got the potential to create more misery and unhappiness than unfulfilled expectations.
8. To make money, trade without fear but also overconfidence.
9. The degree to which you think you know, or assume you know or need to know what is going to happen next, equals to the degree you will fail as a trader.
10. What you perceive in the market is limited to what you know less that what is blocked by fear.
Here Below are links to profitable trading strategies created by Foroom lluzers (real name:forum loser).These strategies are free and have to be learnt.These are the strategies carrying professional level trading.
You can also go to youtube , by searching on google , with any word from the following threads and on the stock charts site .The example is , I want to find reliable support and resistance , and youtube comes up with the following video.
Learn the truth about profitable successful & professional indices stock market index trading.Learn for free what profitable traders do. Free learning site for traders to learn profitable trading. SITE UPDATED REGULARLY WITH NEW ADDITIONAL METHODS AND TRADING IDEAS
What you persistently have ignored here is why would this educator want to teach you about doing your own leg work? Either they failed and don't make money, or they are taking the attitude of "get lost, do your own work I'm not going to give you my system, make your own because screw you". So tell me, why would you pay them a single penny either way? The fact you can't see that it's a scam and the student is being mugged off is pretty shocking.
I can't see why any successful trader would remain on a forum. Successful traders don't hang around trading forums, only loser sell education after they failed at trading.
Anybody who trades without options, with price action alone will inevitably have psychological issues.This is why forex factory hides psychology section.
95 % of traders lose; a Google search below confirms this. Just do a search on Google with 95% of traders lose psychology ,95 % of traders lose money.They end up on forums as teachers to new traders , 95% losers hang around trading forums, and forums are infested with losers who advise new losers on the forums. These traders have lost money, are unsuccessful, don’t know how to trade successfully, are advising new forum traders on how to make money trading.
The stochastics indicator is also a price action indicator.It is compared to the price indicator, posted in the chart below. Stochastic is used by professionals and bank traders.They use it on daily and 4 hour charts.There are less false signals on 28/6/10 settings
Please take this free knowledge and wisdom from the thread, to improve your trading.
The technical analysis is already available on the free charts .The stochastic indicator is already doing the price action analysis on most trader's charts.This eliminates the need for price action candle by candle,analysis for longer term swing traders and trend traders.
