I'm starting week with my thought about learning of trading.
I found that it is impossible to get all knowledge contained in Jim's books when I read it few times. I have to get a lot of practice, face the problems in all area (eg. context, trade management, ML) and start looking for solutions in Jim's books by reading it again. And that's what I think: all solutions are there. I just have to implement it into my behavior and trading plan.
This a lot of material and it is sometimes very difficult mentally (like trading against trend on trading timeframe) that's why process of learning must be repeated many times until aim will be achieved.
I can't imagine how Jim could learn trading without his books It must be incredibility more difficult and long process then we are faced with.
JI
jimkane
Rep: 3,058
Posts: 33,089
Bounces off first area, rolls to second area. 62.25 hit so far.
Originally posted by jimkane
Otherwise, 61-62 is my next level.
SI
sirios
Rep: 0
Posts: 157
I think in context previous top it is bad idea to take this bullish ABCD. Is very impulsive CD leg another red flag ?
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, based on the recent way this has been acting, I'd be wary of a small bullish ABCD in here. But, impulsive CD legs are okay. If it plunges that can even be good, a climaxing type movement. We'll see what it does with this ABCD...
Originally posted by sirios
I think in context previous top it is bad idea to take this bullish ABCD. Is very impulsive CD leg another red flag ?
JI
jimkane
Rep: 3,058
Posts: 33,089
Note that this ABCD here (which it 'sees' to the tick) has an ABCD in its CD leg. That's a potential red flag.
SI
sirios
Rep: 0
Posts: 157
BC was so small that I did't consider CD as ABCD. Thanks. I have to be more watchful.
Originally posted by jimkane
Note that this ABCD here (which it 'sees' to the tick) has an ABCD in its CD leg. That's a potential red flag.
SI
sirios
Rep: 0
Posts: 157
I see ABCD in potential W1 of trigger for our ABCD. Is it red flag for trigger ?