I was thinking to post some charts today. I gave up the idea. I read some blogs, and it is interesting to see one thing in common. Quite a few Futures, Stocks and Currency traders were having a tough week. Uhm… So, here again I am putting up this old post by Trader-X. Chasing success. I know, you are going to do that. So read this now.
most people jump from indicator to indicator, time frame to time frame, method to method. They will use something for a few days, hit a bump, and move on to something different all together. One day the holy grail is a XX period moving average, the next day it is MACD or an oscillator. One day it is a 30-minute chart, the next day it is a 5-minute chart. One day it is buying the break of the first inside bar, the next day it is a pullback from the high.
I call this chasing success. The bottom line is the person does not spend enough time on any one method to really understand and execute it properly. They bounce around, and before they know it a lot of time has passed and they are still struggling.
If you pick something and stick to it, you get good at it. Once you get good at it – once you perfect it, THEN you can add something else to your arsenal
Another one, from Eyal, 1 week of not being on top of my game doesnt wipe out years of trading, not in skills and capability nor in money. Man , I like the attitude 😀
Have a good week ahead.