As a Technical Analyst we perceive a lot of information out the chart. That is our task.
But how much more potential will you have when you combine Technicals with Fundamentals ?
Perlin is an asset that got in to my eye when I the fundamental developments on coin telegraph.
I started looking at the chart as well.
I entered a beautiful zone now. Because I am very curious about how do you think the chart will unfold?
I ask this question because I have just finished reading ‘trading in the zone’ by Mark Douglas (definitely recommend reading) and my total perspective on trading has changed.
I entered the trade today at 0.09250.
Before I read the book I don’t think I would have entered the trade where I have entered it today.
Because; I would have perceived the chart as ‘ unpredictable’ and not strong enough because the price couldn’t stand above the previous high of 19 may 2021 (REJECTED 5 TIMES) and I would interpreted it as weak!
But now with the knowledge I have gained reading I stept in because WE DON’T KNOW WHAT IS GOING TO HAPPEN AND WILL NOT KNOW UNTILL THE PRICE DEVELOPS.
He (Mark Douglas) states that when your definition of an edge is met you as a trader have to step in the trade ( so don’t rationalize on those earlier price points).
Because the traders involved in creating the patterns and prices earlier are not in the trade now so we don’t know what is going to happen. ONE PERSON HAS THE POTENTIAL TO CHANGE TO WHOLE SITUATION (think about it, deep)
THIS IS GOLD . it really set my mind free and I honestly can say I trade without fear now. Because it is not about the particular trade we trade NOW. It is about having an edge (statistical advantage) and put in big enough sample seize (trades) so that edge can work it self! at the end of the road we will have our wins and it also means we will lose on our way. IT’S OK. LOSING IS JUST THE PRICE WE PAY AS A TRADER TO BE IN THE BUSINESS.
There is a good PROBABILITY THAT I HAVE MADE A ‘ MISTAKE’ STEPPING IN THIS TRADE AT THIS LEVEL. MAYBE NOT. WE CAN’T KNOW. ALL I KNOW IS THAT MY SETUP I WANT TO SEE AND IS STATISTICALLY PROVEN IS MET SO I MUST TRADE.
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Quote of the day;
Don’t try to create certainty in an uncertain environment as a Technical trader.
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