Reuben Jr

Was reading a book today about trading, written by Bryce Gilmore about geometry of the market. It's so puzzling to see that people were studying planetary movements and apply to trading. I mean what's the moon goona do with the market 🤷🏾‍♂️

"the psychology
of the market participant, the supply and demand equation, and the relative strengths of the buyers and sellers are all reflected in the one candlestick or in a combination of candlesticks." - Book: Beyond candlesticks by Steve Nison

Trading without any indicators is the only way you can be profitable in the long run, because all indicators are lagging indicators. They will give a signal when price has already moved. And so it's better to act on price alone, and/or use the indicator to confirm the direction of the market.

Trading looks simple, and that's why a lot of people fail. Our brain functions in such a way as to find the effortless path to utilize less energy and by so doing, it creates cognitive biases towards trading, these includes oversimplification, overconfidence and confirmation bias. Awareness of these biases is crucial for making better trading decisions.

"If you would be a real seeker after truth, it is necessary that at least once inyour life you doubt, as far as possible, all things."
—René Descartes

"when inquiring about the old we learn the new" - Mark Twain

The same applies to trading. We learn about the past to anticipate the future.

Recommended Books about Trading:

1. Japanese candlesticks charting technique by Steve Nison.
2. Beyond candlesticks by Steve Nison
3. Naked forex by peter Walters PhD
4. Technical analysis using multiple timeframes by Brian Shannon

Read them in that order, you'll gain valuable information. And then, add up whichever book you feel like.

Reading recommendations: 👇🏾

Get one and start reading today.

The early days of trading, painful but worth it✊🏾