Wednesday, June 25, 2008

Train your mind following the crowds

Simply relying on the technical indicators itself to do the job will not make you a good trader. It is because most often those indicators fail at certain point especially when fundamental factors i.e. economic data release shake the market into volatility. As a result you will fail it during this time even the professional traders will have to accept the losses.

Therefore in order for you to be able surviving the vigorous volatility your instinct become very important. Guided by technical indicators you will have the confidence and you must utilize that confidence to produce results by the help of your instinct.

This will takes sometimes for you to learn in integrating those indicators and instinct into one. I have taken more than a year to have in place on my mind firmly first by studying closely all the relevant indicators such as stochastic, MACD, and Bollinger Bands while at the same time training my mindset to follow the market. You can do this by observing the behavior of the market prior to the indicators movement and also use the candlestick counting as guide.

Training your mind to follow the market is like the concept of water which change shape wherever it is put in. You will become one with the market if your mind can see what others are doing on the market. Keep train yourself i am sure you will be good next time.

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