Monday, June 3, 2013

The Daily Note - $DJIA ~ Chart Pattern Understanding

*****Long time ago I took a course called : est! It was called a "training" which set off warning bells, but I took it on some good friend's recommendation anyway.

I did not regret taking the course yet I will not say that it was the pivotal moment of my life, because I was already on my way, but it most likely was on some level since lately I find myself referencing those little aphorism.  The course gave me tools, reinforced what I was already thinking and helped reference what I already saw and felt. It then allowed me to add to my knowledge things not quite yet seen but ready to be known.  One of which was/is : "In life, understanding is the booby prize"  one of the aphorisms which  brings me to the point of today's tape commentary and this article.

Pattern recognition on a chart is not learned by seeing and knowing the names of patterns. That is understanding, and seeing by hindsight, in other words it keeps you stuck. Recognition of what is coming,  learning by observation which leads to feeling of the next move, is where pattern recognition pays rewards. This keen ability to learn is within all of us, and available by studying those charts daily as they unfold.  Once you recognize how likely the next move is, you will be miles ahead of understanding and way ahead of anyone else.

There are many patterns to be seen and recognized and your reaction cannot be from the past but only from the present. I can say it's better if you  don't understand it.  Trusting in your own ability to recognize it, is what life and trading is about and it's how you will experience it; not through some one else's eye but your own unique set of brown, green, gray or blues.

The Other Side (Feat. Cee-Lo Green & B.o.B) by Bruno Mars on Grooveshark

Happy Trading, Living and Dancing

 The Daily Pick -  $DJIA Update

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