Today Sunil Saranjame of timamo has made a post linking my
blog. I would like to thank him for the link . please read it here.
If you have carefully gone through the actual trades taken,
you will find some difference in entries and exits. This is because the tactics
differ. Very same concepts can be traded with very different tactics. The core
concept of my trading is the price acceptance and rejection at trader decision points.
Scans, indicators, candle patterns etc are all about tools and tactics to trade
the concept. The method I trade is only "one of the ways to trade" this
core concept.
The critical thing in trading is basing your trading
strategy on a core proven concept.If the core concept is sound, rest is all about tactics.
Concept comes first, then only tactics. Deep understanding of concept will
help you build a strong foundation on which you can build a trading system. Low
conceptual understanding is the main reason for failure in trading
Next time when you read about a new trading method, think about
the core concept behind it before jumping on it. You can avoid a lot of frustration
and save a lot of money.
Only conceptual understanding will help you to build an enduring edge
Thank you. As I said in my last comment, I understood the core concept in your method, watched the price behavior for almost 3 months and slowly I started to get the hang of it. Now, I'm only trading using this method. It's just beautiful.
ReplyDeleteThanks again dear ST.
SS,
ReplyDeleteThanks a lot.
I am really excited.
ST
Hi ST :
ReplyDeleteNice article. Most importantly apart from the cycle of concept and tactics , a quality that you possess is "perceptual reasoning skills". Congrats :)
Regards
Vinod
VK
ReplyDeleteThanks
Reality of the market is covered by layers of illusions.Trying to peel them out for a long time. Still a long way to go
ST