tmanbone wrote:MO it's obvious you're a natural, besides that fact how much time on average do you spend educating yourself on trading, say per day, per week? An estimate? In following your post here at Kreslik I've come to the conclusion that you are trying to get us to see the even ebb and flow, amongst, the smaller time frame, volatilty in the markets. I would also like to know your recommended reading list. Thank you sir for your time and contributions.
My life is trading tmanbone
I do not allocate time for trading I allocate time for living.
Trading is all about a price:
Momentum carries the price through "a price" and upon retracing beyond "a price" you place your trades in expectation that price will close lower than the line in a single period of time.
If it closes lower you hedge (get flat) only when a correction is imminent.
If you fight for long term position then long term position will fight for you.
As far as reading material I read books on:
NL Texas Hold'em (develop your psychology, problem solving, and overcome fear)
How to Brew by John J. Palmer (beer is the lifeblood of creativity and it can be made in your backyard for $0.25-$0.70 a bottle )
Market Wizards (turning a deaf ear to legendary traders is never a good idea)
TA books are a waste of time and money.
Books on psychology never hurt, but I wouldn't spend a lot of my time here.
I wish that I knew of a good book on fundamental analysis for currencies.
A Price Chart (the best book on trading hands down )