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grah33: We've all got inherent biases and weaknesses. Recognise yours and minimise their impact in your trading business. If you want to trade then you have to make some decisions about how you're going to go about it. Are you going to trade ASX or US? Long only or short as well? What type of trader are you? etc, etc. I can't help you with those decisions, but I know they must be made and then you start your trading journey.

kid hustlr: Thanks for the compliment and glad you're enjoying the journey. Before the GFC it was possible to buy most BOs at the best price and at the right time. The depth was thick enough to get set with little slippage. Since the GFC the ASX market depth has thinned considerably. Conditional orders don't work as effectively as they did. I've stopped using them and they should be free. I prefer to buy the BOs on the day of the BO even if it's late in the day and price has moved up a liitle more.

If you're buying them on the second day, the best BOs just zoom higher, some hang aroung the close and a few drop quickly. Limit orders may miss the best BOs. We can't afford to miss these and I'll pay the few extra ticks and adjust my SL after the close. The best BOs never threaten the initial SL.

I've noticed a lot of BOs are "jumping the creek". Check out that Wycoff term if you don't know it. If you recognise these, most of them are real deal. Buy them asap.

<blockquote data-quote="peter2" data-source="post: 890758" data-attributes="member: 13908">grah33: We&#039;ve all got inherent biases and weaknesses. Recognise yours and minimise their impact in your trading business. If you want to trade then you have to make some decisions about how you&#039;re going to go about it. Are you going to trade ASX or US? Long only or short as well? What type of trader are you?&nbsp; etc, etc.&nbsp; I can&#039;t help you with those decisions, but I know they must be made and then you start your trading journey. kid hustlr: Thanks for the compliment and glad you&#039;re enjoying the journey. Before the GFC it was possible to buy most BOs at the best price and at the right time. The depth was thick enough to get set with little slippage. Since the GFC the ASX market depth has thinned considerably. Conditional orders don&#039;t work as effectively as they did. I&#039;ve stopped using them and they should be free. I prefer to buy the BOs on the day of the BO even if it&#039;s late in the day and price has moved up a liitle more. If you&#039;re buying them on the second day, the best BOs just zoom higher, some hang aroung the close and a few drop quickly. Limit orders may miss the best BOs. We can&#039;t afford to miss these and I&#039;ll pay the few extra ticks and adjust my SL after the close. The best BOs never threaten the initial SL. I&#039;ve noticed a lot of BOs are &quot;jumping the creek&quot;. Check out that Wycoff term if you don&#039;t know it. If you recognise these, most of them are real deal. Buy them asap.</blockquote>

[QUOTE="peter2, post: 890758, member: 13908"] [COLOR="#000080"][U]grah33[/U][/COLOR]: We've all got inherent biases and weaknesses. Recognise yours and minimise their impact in your trading business. If you want to trade then you have to make some decisions about how you're going to go about it. Are you going to trade ASX or US? Long only or short as well? What type of trader are you? etc, etc. I can't help you with those decisions, but I know they must be made and then you start your trading journey. [COLOR="#000080"][U]kid hustlr[/U][/COLOR]: Thanks for the compliment and glad you're enjoying the journey. Before the GFC it was possible to buy most BOs at the best price and at the right time. The depth was thick enough to get set with little slippage. Since the GFC the ASX market depth has thinned considerably. Conditional orders don't work as effectively as they did. I've stopped using them and they should be free. I prefer to buy the BOs on the day of the BO even if it's late in the day and price has moved up a liitle more. If you're buying them on the second day, the best BOs just zoom higher, some hang aroung the close and a few drop quickly. Limit orders may miss the best BOs. We can't afford to miss these and I'll pay the few extra ticks and adjust my SL after the close. The best BOs never threaten the initial SL. I've noticed a lot of BOs are "jumping the creek". Check out that Wycoff term if you don't know it. If you recognise these, most of them are real deal. Buy them asap. [/QUOTE]

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