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tommyho
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Mentor: A wise and trusted counselor, teacher. To me, it is an all inclusive term. A mentor has the elements of a coach, teacher, counselor and most of all example. An ideal mentor, allows his mentee, I believe it is spelled, to develop their own strengths and areas of interest - not using the "cookie cutter" approach. I've found this through APA zones where I've been using their system for 2 yrs now and have participated in their online community through a Skype chatroom. Very helpful and encouraging.
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I've been using APA too. As to keeping the charts clean, you have the option to show only the current zones or not. I like it b/c you can set it up the way you like. I use 1 min/15 and 60 min zone indicators showing me where price has visited and the number of times it has. The zones change determined by the number of times they have been hit. The more it gets hit the weaker it becomes. There is a very helpful chat room on Skype where the members meet, analysis takes place and questions and input.
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Why We Want You to Become a Successful Trader
tommyho replied to analyst75's topic in Trading Psychology
I've been using APA Zones for two yrs now. There is a community of traders that have a Skype chat room and meet each AM. There is analysis and questions and input. Check out the APA site and you can be directed. -
I like this. I see what the one person said about it being for "sideways" movement. Sell high , buy low.
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Why We Want You to Become a Successful Trader
tommyho replied to analyst75's topic in Trading Psychology
I wouldn't be doing this if it only depended on me to become a successful trader. I am really fortunate to have a small community of traders that DO actually care about whether I am successful -
I like what Mighty Mouse shared in respect to his example. Evaluation of the market, take in to consideration your assets, affordable risk all good. Would help to have some input from a live person, "No, Edsels are losers." for instance. I've found, there are some Skype chat rooms that have helped me a lot.
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Advice for Beginners....don't Try to Make Money.
tommyho replied to TheNegotiator's topic in Beginners Forum
Excellent wise advice. Thank you Negotiator. -
To me, this is the most important tool in your belt. As someone said, "you are only as good as your tools". If you go for a cheap service or speed, this type of thing will happen and the results can be frustrating at the least - costly otherwise. Must be "hardwired" into your connection is my experience. Also, a good backup power source. Then the computer you use. Up to date essential. Broker Platform Have a community of traders that can give support A mentor to guide Trading plan
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Katya, thank you for posting. As to determining trend. These indicators help me. 1. check a higher time frame over course of two days 2. is there 'stair stepping' 3. price action failure - higher highs - lower lows with a retest of either and failure 4. have two pivot points been broken 5. take notice of the bigger bars. Tom
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I am new to Traders Lab as well. Been day trading for almost 2 yrs. Nice to know I'm not the only one who has blown my acct. ... more than once. Have found that getting to know my instrument helps a ton so I've stuck to CL for months now. I incorporate a system that follows "support and resistance" with a heavy "trend follow" design. My mentor has helped me set up a "plan" that is working very well now. Like they say in "golf", I have to "groove my swing".