Learnings

Here are some key thoughts/ ideas/ point of views of the market that i've picked up since i started this journey.

1) You're wrong till the market proves you right.
- Coming from the Phantom of the Markets book written awhile ago, it creates the rule that if the markets aren't showing you the expected price action, you're wrong and should be out of the position.

2) The biggest players buy weakness and sell strengths / Trade with the prevailing trend (of Indices)
- The trick is identifying which is happening when. Coupled with the belief that markets do trend and that events/prices will have a tendency to conform to the long term trend, i should learn to identify 'key points' where i should be buying/selling.

3) Confluence.
- Nothing unique about having multiple indicators point you in one direction. Confluence is expanding that view onto the larger field. Right now, I love seeing 3 or more aspects come together.
- Ie; For a 'buy', i'd like to see an oversold RSI, a good weekly support, a chart pattern, and/or a candlestick pattern.

4) The more defined your system, the better.
- The fewer 'loose' variables you have in your system, the less chance of you sabotaging your own trade by making bad judgment calls.