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Last modified by Drunk Monkey on 2022-12-28 09:56
From version 4.1
edited by Drunk Monkey
on 2020-07-13 17:09
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To version 10.1
edited by Drunk Monkey
on 2020-08-06 19:51
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34 34  - Retail logic is designed to make you fail, so why buy them?
35 35  11. Stop Wasting Money On Books
36 36  - They don't have the secret.  Good books? Consider (need to check all these references)
37 -111. For money management, everything from Ralph Vince and Ryan Jones, the do a lot of "optimal f and kelly criterion" (check, not sure what this is) - advanced topic
38 -111. "How Many Million Dollars Trading Commodities Last Year" a 70's book from Larry Williams, most of which is still relevant - teaches about smart money and how it influences the market
39 -111. Trading for A Living by Al * Elder
37 +111. For money management, everything from Ralph Vince and Ryan Jones, they do a lot of "optimal f and kelly criterion" (check, not sure what this is) - advanced topic
38 +111. //How I Made One Million Last Year Trading Commodities// (1973) by Larry Williams -  most of which is still relevant - teaches about smart money and how it influences the market.  Advanced techniques
39 +111. //Trading for a Living: Psychology, Trading Tactics, Money Management// (1993) by Alexander Elder
40 40  111. Market Wizards 1 and 2 just for inspiration
41 -111. Street Smarts by Linda ?Rash and Larry Conners
42 -111. Technical Analysis of Financial Markets - John Murphy - Retail Traders bible - do the opposite of this and you will find the charts more fun to watch because of the high degree of failing.
41 +111. //Street Smarts: High Probability Short-Term Trading Strategies// (1996) by Linda Bradford Raschke and Laurence A. Connors
42 +111. //Technical Analysis of the Financial Markets// (1999) by John J. Murphy - Retail Traders bible - do the opposite of this and you will find the charts more fun to watch because of the high degree of failing.
43 43  11. Avoid Looking for Hot Hand Gurus
44 44  - you won't make money doing this.  At best, you'll become codependent instead of a thinking trader
45 45  11. Become Your Own Signal Generator
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79 79  
80 80  == {{id name="Part2"/}}Part 2 - How Would I Study ==
81 81  
82 -* blah
82 +(this video should be viewed multiple times)
83 83  
84 +you will lose trades - doesn't matter.  Focus on the re-occurring setups
85 +
86 +1. Where do steady setups form?  Focus first on the following because everything else is a distraction.  If you understand how prices flow around these various areas, you will always be able to find setups that will lead to profitable trading.
87 +11. Monthly Highs & Lows
88 +11*. Look at the last 3 months - mark out the high and the low and then study how the market reacts around it.  Ignore standard support and resistance crap because that will lead to loss.
89 +11*. Example marked out - daily GBPUSD Apr 7 2020 to July 27 2020:
90 +[[image:Screenshot 2020-08-07 at 02.54.45.png]]
91 +11*. What are you looking for?  Focus on price, the open, high, low and close of any interval.  The intervals are the monthly, weekly, daily, sessions
92 +11*. Mark out the monthlies and extend it out into the future.
93 +11*. What's happening and is happening as it reacts around that price level?  Is price heading for an old monthly high?  Low?  Where is it aiming?  Has it recently gone below an old low? and rallying up? If so, it's probably just ran stops.  If it ran sell stops, then it'll probably run for the old monthly highs.
94 +11. Weekly Highs & Lows
95 +11*. chart with the weekly and the monthly highs and lows marked out.
96 +[[image:Screenshot 2020-08-07 at 03.22.01.jpg]]
97 +we are umore comments here
98 +11*. We are using different colors to mark the highs and lows. (blue, high, red, low) as well as using different widths to differentiate between the monthly and the weekly points of interest
99 +11*. placeholder
100 +11. Daily Highs & Lows 
101 +11*. 60M chart
102 +11*. asdf
103 +11. Session Highs & Lows
104 +11. Notes:
105 +1. sdfgsdgf
106 +
84 84  == {{id name="Part3"/}}Part 3 - How Would I Practice ==
85 85  
86 86  * blah
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