When I first started to trade, I did like what almost everyone......buy some books, paid good money to attend trading seminars, surf forums, you know...the works. I did all these in order to copy some of the stuff that work (or seem to work) for these guys.
In other words, what I was trying to do was to shorten the learning curve. I wanted to be able to make money as soon as I had checked out of the hotel that I was in, after the trading seminar had ended.......
........which, of course, did not happen, as you probably have guessed! I found out the hard way that there is MORE to trading, than simply aping what the other guys are doing in their trades.
Many moons later, I began to REFINE & FINE-TUNE all the stuff that I've learnt, and mold it into a sort of personalized system or style that I'm comfortable with. At this stage, I now start to trade less frequent than what I used to do (even on intraday basis).
In other words, I tend to wait until all the elements come together (sorta waiting for all the planets to line up), before hitting the buy or sell button.
Getting from "copy & paste" to "defining my own trading style" phase does take quite a considerable amount of time, but it's well worth the effort.
Why?
Because when you reach this stage, you really don't care about other people's opinion about the setup. You've seen the pattern before during your extensive backtestings and screen time, and you know that this is a high probability trade setup.
OK, rant over. Back to trading!
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