Archives of “January 6, 2019” day
rssRespect the Pattern
Our view is that we need to respect the spirit of any pattern and not worry too much about the letter of the law, so to speak. Opens and closes on doji candles need not be exactly the same. Island gaps reversals (abandoned babies) need not have actual gaps. Why? Because 24-hour trading, decimalization, derivatives, etc… have changed the landscape and what constitutes an open and a close is now a very fuzzy proposition.
The financial markets are radically different than they were last century, last decade and even last year. The spirit of the tools still works because humans do the same old dumb (and occasionally) smart things over and over. It is the actual rules of the analysis that are questionable so keep it simple and you should be fine.
Wisdom from a founding Father…
It's hard to see into the future when your imagination is out of focus.
Profitable Trading is in the math
Success is a lousy teacher. It seduces smart people into thinking they can’t lose. —BillGates
Life lesson from Francis Mallmann, Argentine chef.
Kill The TV
If you are waiting for the TV clowns to tell you where to invest and How to trade , you are missing the point. Successful investing and trading is a skill, which can be learned and developed. The last thing you want to do is to let others tell you how to invest your own money. Instead, invest your time and energy in developing your own investing strategy. Kill the TV for good and become an independent thinker. Profits will follow.