After a long time off, I am back home and slowly catching up with trading. This process of catching up can be tricky as my mind will tell me that I know what I am doing. The danger is I will feel too confident and rush into trades. So this whole week was dedicated to chart analysis and reading up on my posts I did so far.
I am happy to be back. Trading is my business! And I am getting ready to continue this business.
My main focus at the moment is to understand.
To understand among many other things:
- Starting with the basics
- What are my Price Action Signals
- What timeframes am I looking at
- Interdependence of the different timeframes
- Market structure (meaning of it)
- Most importantly
- Understand market structure.
- What has happened
- What are important levels
- Where are the important levels
- What did price do at the important levels
- How did price react at these levels
All the above is going to help me identify high probability trades. All this is going to serve me to take only trades with higher probability. The markets are random at any given time. But there is a pattern. And it is my job to utilize these patterns. I am a technical trader. I utilze fundamental analyis and sentimental analysis in my trading. The combination of all these help me to identifiy chances and quantify the associated risks.
Happy trading,
TT
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