Indicators or Naked Charts?
My dear 5 followers, today I want to share some revelations during my time trading.
I was looking at some old screenshots and pictures in my computer that are from the time I started trading which was a little over three years ago.
I was suprised to see how many indicators I had on my charts, and I reflect upon it as the total noob stage of trading.
When you start trading you are in love with the very concept of trading and everything about it.
Suddenly your self esteem increased because you know a little about trading, you are now a trader, albeit a terrible one, its still is a sexy thing to say.
And with all this new world of trading, like a child filled with no experience and absolute enthusiasm naturally your attention gets caught by the shiny colorful sexy looking indicators.
And because you understand this indicators, your self esteem goes higher because now you know what they mean and that feels great to understand what looks so complex.
Then you start trading, and you quickly realize that it is not that easy as you thought, because you have no clue of the emotional psychological experience of trading itself.
Eventually either you learn somewhere or you realize that these beloved indicators are actually confusing the hell out of you in the heat of the moment, and you start scaling back.
You read somewhere that less is more , and ''the more simple my strategy the more money I make".
You resist this because the indicators look so good, your identity was tied with how smart you are that you can read them, and the time you spent learning about them.
You realize that you are not a trader because you want to impress your friends about how you understand all these indicators but that you are a trader because you want to make money.
Then you realize that all these indicators are holding you back and you start removing them.
Each one you take off feels like saying goodbye to your best friend, or that exgirlfriend that you hate but you keep coming back to her.
Then once you get rid of them, your results start to improve, so that motivates you to remove some more.
Eventually you are just left with support and resistance, and you look back at your own journey and you look at all these ideas on trading view and you realize how everyone si going through the same journey, we are all essentially the same.
So I encourage anyone reading this to understand that the traders journey is going from complex and fancy to extremely simple and straightforward, how quickly you realize this and go in this direction is how quickly you will achieve success.
Don't get stuck in Indicator Land too long.
I was looking at some old screenshots and pictures in my computer that are from the time I started trading which was a little over three years ago.
I was suprised to see how many indicators I had on my charts, and I reflect upon it as the total noob stage of trading.
When you start trading you are in love with the very concept of trading and everything about it.
Suddenly your self esteem increased because you know a little about trading, you are now a trader, albeit a terrible one, its still is a sexy thing to say.
And with all this new world of trading, like a child filled with no experience and absolute enthusiasm naturally your attention gets caught by the shiny colorful sexy looking indicators.
And because you understand this indicators, your self esteem goes higher because now you know what they mean and that feels great to understand what looks so complex.
Then you start trading, and you quickly realize that it is not that easy as you thought, because you have no clue of the emotional psychological experience of trading itself.
Eventually either you learn somewhere or you realize that these beloved indicators are actually confusing the hell out of you in the heat of the moment, and you start scaling back.
You read somewhere that less is more , and ''the more simple my strategy the more money I make".
You resist this because the indicators look so good, your identity was tied with how smart you are that you can read them, and the time you spent learning about them.
You realize that you are not a trader because you want to impress your friends about how you understand all these indicators but that you are a trader because you want to make money.
Then you realize that all these indicators are holding you back and you start removing them.
Each one you take off feels like saying goodbye to your best friend, or that exgirlfriend that you hate but you keep coming back to her.
Then once you get rid of them, your results start to improve, so that motivates you to remove some more.
Eventually you are just left with support and resistance, and you look back at your own journey and you look at all these ideas on trading view and you realize how everyone si going through the same journey, we are all essentially the same.
So I encourage anyone reading this to understand that the traders journey is going from complex and fancy to extremely simple and straightforward, how quickly you realize this and go in this direction is how quickly you will achieve success.
Don't get stuck in Indicator Land too long.
Matteo Messina Denaro
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