to hold this stock till the price doubles! It explains how the worlds richest investor, Warren Buffet selects companies to invest. Then I did a short reflection and concluded that it was my emotions that trigger this action of mine. And often price doesnt do that and continues moving in my intended direction. Why would I want to invest in a stock for years when I can buy and sell currencies in minutes! The thread owner had a huge following and traders were worshiping him like a Demi-god. Price action trading This has to be the most popular trading approach among retail traders due to its fantastic internet marketing. It was on Babypips where I was first exposed to a trading strategy. I was an ambitious naive trader who wanted to make millions of dollars.
Within 6 months I knew it was not something for me as I wasnt comfortable with the psychological aspect of scalping. But is it a good marriage? Albert Einstein said, Insanity is doing the same thing over again and expecting different results. But as I read more books and studied research papers, I realized it is much more than that. I concluded this wasnt going anywhere and looked for another strategy. I was immediately drawn to the fanciful charts and colorful indicators that beautify my screens. Instead, I use indicators to allow me to identify support resistance, and gauge the volatility of the markets.