With today's tip I just want to reiterate the importance of having a trading system and a plan.
With a good trading system you will be able to identify every aspect of a trade before you enter the trade. By doing this, trading becomes fun and a true adventure. You also will learn from your losses and be growing all the time. Success is no accident and it can be duplicated. You will learn what, when, and to whom to listen too and learn from. In the beginning everyone seems like an expert. But as you grow you will be able to tell the truly learned and proficient traders from those that know a little and try to have others think that they are the answer.
Be careful of spending to much time with groups that meet to analyze just one indicator or look at what happened in the market. Also there are people that analyze a lot of indicators and can not get around to getting into the market, the trade is gone by the time they have decided to make a move. They have analysis paralysis. If they do not have good entry and exit signals then find others to meet with and learn from. You are looking for ways of getting in and out of the market, at what times to do so, and when to stay out of the market. You do not need to spend your time analyzing the market and try to figure out the future by looking at the past.
With all this said just make a trading plan that is about getting in and out of the market-not just studying it, and trade with that plan. Have I mentioned that before?