This whole website and forum IS The Path of Learning.
The Path of Learning takes you through the following progression:
The very first thing we have to do is learn basic PASR. This involves learning and UNDERSTANDING exactly what PASR is.
We then have to learn how to IDENTIFY accurate SR levels to SUIT our particular trading style.
We then have to learn the basic price reversal candles – Hammer, Shooting Star, BUOB, BUEB, BEOB and BEEB, nothing else. At this point we have to learn the classical definitions of these candles. Do NOT think about or study other candles or patterns as they are NOT reliable and/or consistent for PASR trading.
We then put this all together to do SIMPLE yet very profitable trading:
Trade from support to 1st resistance and resistance to 1st support.
At this stage, you would “paper” trade or demo trade to exercise the technical content i.e., make sure your understanding of basic PASR is correct.
Doing this will bring up many doubts on SR levels and candle types etc. This is part of learning and a stage where every doubt and question must be resolved. How long this takes is up to the individual but there is NO time constraint – you learn within your own time frame.
When you have a very high success rate of doing this, you move in to REAL trading. You open an account with REAL money and trade the smallest lot size your broker offers.
This will OPEN a whole new world of “little men in your head”, “the man in the mirror” and “gremlins and demons” in you. Sometimes you will see these refered to collectively as “the little people”. These are the voices that tell you to 'have a go', 'could be a good trade if you take a chance', 'you haven't taken a trade for a long time, better get stuck in', 'you've got to be in it to win it!'. To resist these you need a PROCEDURE and a PLAN. You will learn the importance of a believed, trusted and accepted PLAN. You will go through grief and pain UNTIL you learn to CONTROL your emotions. Above all you will learn DISCIPLINE.
Again, how long it takes to master and control your emotions is up to the individual. You will continue to trade until you get to the point that you feel you can “walk on water”. Despite anything written on here, you will go through this emotion and do it. After you have been eaten up, chewed and spat out in little pieces you will learn that you are NEVER in CONTROL of your emotions and you ALWAYS have to be ON GUARD.
As you continue to trade with a PROCEDURE, with DISCIPLINE and with a PLAN, things that were difficult to see will become clearer and more obvious.
We will move from trading classical candle shapes, sizes and patterns to “SEEING” who and what is behind the candles, groups of candles, waves of candles etc.
We will learn to recognize market behavior by eyeballing a chart rather than in depth analysis of a chart.
In short, we will be developing our “feel” for the market. This is a very, very personal attribute. Some get it early, for some it seems to take forever while for others, they NEVER get it.
At this point, we move into other strategies and techniques.