|
Emini Day Trading Method - Learning To Day Trade
-
Learning
How To
Trade - Do You Have A Learning Plan
You have two
primary issues with trading: (1) you essentially must learn a new
'language' which is your trading method (2) you must learn to how
to perform your 'language' as you learn it. In order to progress
through the learning process you must get feedback. Feedback
comes from performing and having the performance evaluated based
on a criteria - that criteria being base method trade setups -
something that is best done in front of an 'expert' who knows the
given criteria.
Feedback also comes in the form of asking 'language'
specific-relevant questions. IF you can't ask a good question -
you CAN'T get a good answer. AND IF you can't get a good answer -
you are not getting necessary information as feedback that can
lead to better performance.
I have mentioned a number of times that I learn a lot about what a
person knows-understands from the answers that I am given to
questions that I may ask - BUT I by far learn the most from the
questions that I am asked. I know that when someone asks very
general open ended questions - that the person just has not
learned enough about the method concepts - the more general the
question the clearer this situation is AND the problematic it is
for learning to trade.
Everyone's basic job is to define base setups - define them in
terms of the specific components that the setup will be comprised
up. For instance a break2 of a setup focus price WITH mex flow -
is a basic setup definition that a person may chose as a starting
setup. From here they can add additional components to make it
more selective and/or they can work with this setup and make it
more selective by the direction and discretionary decisions they
add: (1) they won't take this as a fast chart trade in
consolidation (2) they won't take this as a fast chart trade IF
it's counter AND against the 120t (3) BUT they would take this as
a fast chart trade IF it's with directional strength AND when the
start point of the setup is a reject of the counter direction - a
reject of a sup:res line into a sell would be an example of this.
Any relevant questions that could be asked about the base setup
includes the setup itself AND a question asked in the context of
the examples above. Is that a base setup isn't acceptable as a
question - WHY? BECAUSE the answer is
of no use - a yes answer assumes you understand the same as who
answered which isn't necessarily the case as would a no answer.
The real answer is - is what a base setup.
What about questions like - I hesitated and missed my trade what
should I do? Uhhh - you shouldn't hesitate or you should take a
first continuation trade - does the answer help? I could give you
many many examples of similar questions that don't allow
meaningful answers to give you the necessary information. BUT do
understand that regardless of the answer given - if you can't
construct a method relevant-method specific question - the answer
won't mean much to you.
It is necessary to understand that no person will develop
a good base setup plan, without first have a learning to trade plan that
includes an understanding of method and the related concepts that
'direct' the setups - the 2 are completely intertwined.
Study Or Review -vs- Learning And Absorbing
Frankly, I have
spent a huge amount of time studying the materials on the website
and have attend 3 or 4 seminars and listen to many training
sessions and did not have a good understanding of what the
definition of a base setup is or how to create my trading
plan…then in the last few weeks, as if an impediment was lifted, I
went back through some of the material and things started to
click…from the January, February 07 series of training sessions I
have started to create my basic trading plan.
I’m not sure what
prevented me in the past…but I do know it was not lack to effort,
desire, study or laziness as I have literally hundreds of pages of
information I’ve summarized and outlined….I just haven’t been able
to put it together until now. I’m not blaming anyone just relating
my experience.
IF the material is available BUT not learned - WHAT is
the actual underlying problem?
There
are a number of issues that I have problems with that I'd like
to bring up. Let’s start with the basic definition of
a setup and the market conditions that it’s best suited for,
and conversely when its not.
Consider what was written above in a completely
non-committal way as intended - consider it objectively, as if you know someone
else with these issues, and you are trying to decide what you are going to say
to them. What if there were numerous training sessions and study
reports-daily trade journals discussing specifically this - the
basic definition of a setup and the related market conditions?
Can you recognize a problem
- this is in reference to your earlier paragraph about not knowing
what the problem was in the past AND being concerned to what
extent the problem still exists. I am not commenting on
effort-desire or whatever BUT I am saying that there is a wealth
of resources that address all of these things - so the issue would
then go to not if you study BUT how you study - there is something
occurring where the material isn't being learned and absorbed for further
use OR in a way to ask method specific questions to have problems
answered.
Maybe time is being put in
reading and reviewing, but this will not by itself lead to
learning and absorbing the material where it can be actually used.
How you learn method is going to determine your understanding and
ability to attempt to try and trade method.
How You Learn To Trade Will Determine If You Learn To Trade
IF you are putting in enough time AND the material is
available to you to learn - what is keeping you from doing so? I
will assure you that regardless of what you come up with for an
answer to this question - it is very much in part to the situation
that you don't have selective method base setups that you have
accumulated experience with to ever have any basis for making
decisions.
I have mentioned a number of times that I can always tell what a
person has done AND what they know and understand by the way they
construct questions AND the specific content of the question. The
more general and open ended a question is - I know the less
background and experience that they have with working with defined
base setups. You just have to understand this - no person will
ever have a good base setup plan without a good learning to trade
plan - the 2 are completely intertwined.
- Copyright ©
1997-2007
Tactical Trading, LLC.
All rights reserved.
Reproduction in whole or in part without permission is
prohibited.
|
