Knowing the language the market speaks to time trade executions
Of all the trading books out there, where's the one titled "Learn to speak market"?
In the first post of the series on "the most powerful trading lesson I received", I noted comprehending what the market is saying, moment by moment.
Why is this important? Because the market tells you what to do.
Just imagine what it is like to trade when each execution you make is simply in response to following instructions from the market.
Of course, you need the skills to comprehend what it's saying or its sayonara. It's fair to say many trader's attempts to understand what the market is saying more closely resemble being the tenth person in line in a game of Chinese whispers. The message they are receiving is a distorted version of reality. However, clearly understand the instructions, and you get paid.
The previous post video illustrates real-time comprehending (and thus executing) what the market is saying.
How do you learn to comprehend what the market is saying?
By becoming proficient in all the skills listed below, your trading will transform into acting on what the market tells you to do, aligning your trades with what the market is doing now.