I use to be a telecom field technician.  What does that mean, simply, I was the cable guy.  Phone, internet, tv, mostly residential.  At one point in my career as a field tech, I frequently only used a pocket of tools: a can wrench with a security tool, a 6 way in my back pocket, snips and needle nose  on my belt, and a 7/16 open end crescent on my key chain.  There were weeks that was all I needed.  No tool bag, no butt set, multi meter, tone generator.  For some of you, you may be thinking what the hell this guy talking about?  And that is exactly my point.  Respect your craft, your tools, your experience.  You need to learn some jargon, gain some knowledge, and experience.  

 

In trading as in any craft, you need to understand the language of the craft.  You might be able to repeat some jargon you have heard numerous times, that does not mean  you know how to use the tools you have available to you.  There are many ways to trade, long, short, scalp, swing, ABCD, double bottom, ramp up, dip buy the bounce, breakdown of support, breakout over resistance, first red day, first green day.  You may like 1 min, 3 min, 15 min, 1 hour, candles.  

 

What ever indicators you use, those are the tools you use in your bag.  Get to know your craft, respect your craft.  Take the time to really learn the in’s and out’s of your tools.  At my point in my journey I am aware I am not good at seeing a pivot in L2.  I am good at seeing when a ticker is about to halt in L2.  For myself I know for a pivot I need to see several candles forming a pattern I am comfortable with to confirm the momentum shift or direction.  However if there is already huge volume and I see in L2 a halt coming.  I need to already be prepared on how halts have been following up to know, yes be ready to jump in post halt.  It will be fast a/f.  Gone in 60 seconds time.  Quick in and out.  When I am prepared and see the halt coming.  No fear, I am confident with knowing to get in or stay out.  But panic dip, for me, um huh?  By the time I see the pivot, move done and I'm chasing.  

 

Now is trading a halt my only tool, of course not.  But it is a rather specific tool.  As is a 7/16 key chain wrench, why cause it’s the size of a coax cable fitting.  I had a buddy once tell me you can tell a lot about people by what they have on their key chain… A bar tender has a bottle opener, a mechanic has a spark plug gapper, a telco tech has one of those wrenches and or that pouch on their belt with snips, a health care worker has a stethoscope around their neck.  

 

Feel like that just went kind of all over the place.  That is part of the message I would like to convey in this.  Don’t be all over the place in learning this trading craft. This craft has specialized tools as does any other craft.  Specialize in the craft.  Find what tools work best for you.  Learn some jargon, some theory, gain experience, and applying them.  Learn how to fully utilize the tools you have.  That is the part of the journey I have recently realized.  I may have an “understanding” of a variety of potential set ups.  But that does not mean I am efficient or effective at the application of said various set ups.  There is a time to use a voltmeter, a time to crack a beer and a time to call for help.   Watch, do, teach.  Trade well.  Peace.