This month I concentrated on expanding my knowledge account. I finished watching the traderchecklist DVD and am watching the daily videos one by one.
I have found the appropriate patterns considering my current schedule (I live in the west coast and have a full-time job). I realized that I need some indicators to guide me in the trading, so I am developing my own strategy based on Ichimoku and RSI and testing it on Thinkorswim in the on-demand mode.
Ichimoku makes me to wait for the opportunities of high-probability and prevents me from over-trading. I am writing some scripts to scan for breakout in real-time based on it. RSI helps me to find the good entry and exit points. So far I have corrected some bad habits in entry and exit, and my trading quality is improving a lot.
I will continue paper trading for a month or two and finalize my strategy.
Trading is not gambling. There are patterns that are predictable and if you need to develop the patience to wait for it and the plan to execute your strategy.
My life is changing and will for sure be changed a lot thanks to Tim Sykes' inspiration and teaching. Thank you so much, Tim!
You do realize that the could and RSI are my thing right? Not Tim Sykes. But thanks for giving credit where credit is no do.
@TriforceTrader Actually it is Tim who deserves all the credit. Tim is an amazing trader with all kinds of lessons about indicators including RSI. Thanks to Tim i was able to use RSI and buy TCW.V @ sub $2
If rsi determines the price you buy a stock, you shouldnt be trading. Good luck.
@knox the cloud and RSI are my thing. What are you talking about?
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