Call your 6 yr old, hand them a pencil and ruler. And give them these simple instructions.
Investing is all about math, trend lines and time frames, pure and simple. Time frames include 2 variables. Candle frequency and time devoted to trading.
You can use all the fancy software, indicators, EW theory, fib levels, wishful thinking, stress, dice, etc, etc, ... but it does not have to be complicated. Hand a 6 yr old a blank piece of paper with a line that represents a calculated average and tell the kid to draw some lines. When the straight line is broken by the curved line, ...you change direction and get candy. When the next line is broken by the curved line, you reverse direction and get candy again.
If you follow the simple instructions, ...you get used to getting candy. And at 6 years old, I think most would continue to do the same thing over and over again. I know my dogs sure does.
What happens as we grow up, ...is we think we can outsmart other people and get more and more candy, ... so we develop fancy tools, indicators, techniques, pump and dump schemes, etc.. to prove we are smarter than anyone else. In the end, all we've done is add to stresses in life and are no farther ahead than we were at 6 years old, doing sweet FA and getting candy anyway.
So my advice is to eliminate the noise (price fluctuations, advice, criticism, trolls, egomaniacs, ...etc), and decide what time frame you want to sync your life with trading. Average the price noise, get a ruler and enjoy life. Trade the time frame that suits your lifestyle.
Eliminate the stresses that trading creates by eliminating the "noise". And, that mostly includes people that criticize and think they know everything about trading and life in general.
If you're not a Buffet type personality then increase your time frame
1 hour - EMA = 21
! [ ] (tradingview.com/x/VD1Gfr3l/)
Of course you can adjust to fit to whatever lifestyle or goals.
Remember one thing, ... we only get one chance.
Life's not about counting up (years, money, partners, ..etc...)
It's all about counting your time down, until you reach zero.
Like options, ---> they expire.
Think about that, .. then plan your "frames" accordingly so you can enjoy the rest of the time you have on the rotating rock, ...stress free.
Investing is all about math, trend lines and time frames, pure and simple. Time frames include 2 variables. Candle frequency and time devoted to trading.
You can use all the fancy software, indicators, EW theory, fib levels, wishful thinking, stress, dice, etc, etc, ... but it does not have to be complicated. Hand a 6 yr old a blank piece of paper with a line that represents a calculated average and tell the kid to draw some lines. When the straight line is broken by the curved line, ...you change direction and get candy. When the next line is broken by the curved line, you reverse direction and get candy again.
If you follow the simple instructions, ...you get used to getting candy. And at 6 years old, I think most would continue to do the same thing over and over again. I know my dogs sure does.
What happens as we grow up, ...is we think we can outsmart other people and get more and more candy, ... so we develop fancy tools, indicators, techniques, pump and dump schemes, etc.. to prove we are smarter than anyone else. In the end, all we've done is add to stresses in life and are no farther ahead than we were at 6 years old, doing sweet FA and getting candy anyway.
So my advice is to eliminate the noise (price fluctuations, advice, criticism, trolls, egomaniacs, ...etc), and decide what time frame you want to sync your life with trading. Average the price noise, get a ruler and enjoy life. Trade the time frame that suits your lifestyle.
Eliminate the stresses that trading creates by eliminating the "noise". And, that mostly includes people that criticize and think they know everything about trading and life in general.
If you're a Buffet type personality then trade on this:
1 day - EMA = 21
! [ ] (tradingview.com/x/21Z2QKyy/)
If you're not a Buffet type personality then increase your time frame
1 hour - EMA = 21
! [ ] (tradingview.com/x/VD1Gfr3l/)
Of course you can adjust to fit to whatever lifestyle or goals.
Remember one thing, ... we only get one chance.
Life's not about counting up (years, money, partners, ..etc...)
It's all about counting your time down, until you reach zero.
Like options, ---> they expire.
Think about that, .. then plan your "frames" accordingly so you can enjoy the rest of the time you have on the rotating rock, ...stress free.