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I would like to reiterate that if you are just beginning your trading career, please do not make any trading decisions on the basis of intuitive thoughtseven if they pass muster on the above questions. Until you have been trading for at least a year, if not several years, ignore all intuitive thoughts concerning entering or exiting the market. |
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The only time you as a beginning trader should use an intuitive thought is when you are designing and testing your trading methodology. In this instance it is perfectly acceptable, and in fact is desirable, to use all the intuitive thoughts that you can come up with. In the research phase of designing your methodology, you will begin to have certain intuitive thoughts that should be vigorously pursued. My urge for caution relates only to making a trading decision on the basis of intuition. |
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Another way for you to increase your level of intuition about the markets is to quickly scan the charts of different markets. This can be accomplished by randomly turning the pages of a chart book, or changing the screens on a computer. By literally flashing the chart in front of you for a few seconds, you will bring your unconscious mind into play, which will encourage your intuition to become mobilized. |
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Intuition is the fifth virtue that all excellent traders depend upon. An entire book could be devoted to this topic. My purpose here is to caution new traders that most if not all intuitive thoughts about trading are actually impulsive thoughts being generated by their unconscious mind. Invalid intuitive thoughts will continue until the traders begin to change their beliefs. Again, the only intuitive thoughts you should be receptive to as a new trader are those that help you design and test your trading methodology. However, once your belief structure is mastered and you have gained experience, you will find that your intuitive mind generates valid intuitive thoughts about the markets and can help you increase the effectiveness of your trading methodology. |
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