Seriously the more I know the more I realize how much I don't know. Reading this forum thread by The Doctor (ReadTheMarket's senior) just makes me feel like I know nothing. It irks me, I take ages to read and digest his posts and even so I know that a lot of it came from years of experience which I can only gain through thousands of hours of chart time.
If anything, I'm consoled by the fact that such level of proficiency is actually possible. It is possible to catch tops and bottoms on a minute chart, it is able to ride an entire trend from beginning to the end. 99% of books and people out there say it is not possible and that this is bullshit. Well, they think it is not possible because they don't know how. Check out the journals of RTM's members. From what I see so far the seniors are absolutely killing it. I still don't understand a lot of it, but I'm trying, and I must persevere. This stuff is difficult, but I love it! It is about order flow, about stop hunting, about fake buying/selling, about crowd psychology, all the things I love! And damn who wouldn't want to be the trader who enters a move right at its extreme, sometimes to the pip? That is freaking cool right? While trading the break of a pin bar works, wouldn't you want to be the guy right at the tip of the pin bar while it is forming? Can you even begin to see how low the risk is and how immensely profitable this can be? 3 to 5R per trade is not uncommon on the lower time frames, it almost seem too good to be true. So far I've only tried it once on demo but yep I managed to catch the top of a move and short it down for a small scalper's profit, and damn did it feel good. I really hope that I'll be able to grasp the concepts and apply it with consistency soon.
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ReplyDeletefound RTM less than a month and the forum is dead. I really need a time machine :(
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