For anyone who needs help remember these commandments.
Thou Shalt...
1- Always know the direction of the overall market.
2- Always know the direction of the various market sectors.
3- Always know what the weekly and monthly charts are showing.
4- Always know what the major, intermediate, and minor trends are.
5- Always know where the important support and resistance levels are located.
6- Always know where the important trendlines and channels are located.
7- Always know whether or not the volume and open interest are confirming the price action.
8- Always know where the 33%, 50%, and 66% retracements are located.
9- Always be able to recognize price gaps and what type they are.
10- Always know if there are any major reversal patterns visible.
11- Always know if there are any continuation patterns visible.
12- Always know what the price objectives are from those patterns.
13- Always keep in mind the direction that the moving averages are pointing to.
14- Always know if the oscillators are overbought or oversold.
15- Always be able to identify if there are any divergences apparent in the oscillators.
16- Always know if the contrary opinion numbers are showing any extremes.
17- Always keep in mind what the elliot wave pattern may be showing.
18- Always know if there are any obvious 3 or 5 wave patterns.
19- Always know what the fibonnaci retracement or projection may be.
20- Always know if there are any cycle tops or bottoms due.
21- Always know if the market is showing a right or left translation.
22- Always know what the candlesticks are indicating.
23- Always keep an eye on the tape.
Thou Shalt...
1- Always know the direction of the overall market.
2- Always know the direction of the various market sectors.
3- Always know what the weekly and monthly charts are showing.
4- Always know what the major, intermediate, and minor trends are.
5- Always know where the important support and resistance levels are located.
6- Always know where the important trendlines and channels are located.
7- Always know whether or not the volume and open interest are confirming the price action.
8- Always know where the 33%, 50%, and 66% retracements are located.
9- Always be able to recognize price gaps and what type they are.
10- Always know if there are any major reversal patterns visible.
11- Always know if there are any continuation patterns visible.
12- Always know what the price objectives are from those patterns.
13- Always keep in mind the direction that the moving averages are pointing to.
14- Always know if the oscillators are overbought or oversold.
15- Always be able to identify if there are any divergences apparent in the oscillators.
16- Always know if the contrary opinion numbers are showing any extremes.
17- Always keep in mind what the elliot wave pattern may be showing.
18- Always know if there are any obvious 3 or 5 wave patterns.
19- Always know what the fibonnaci retracement or projection may be.
20- Always know if there are any cycle tops or bottoms due.
21- Always know if the market is showing a right or left translation.
22- Always know what the candlesticks are indicating.
23- Always keep an eye on the tape.