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There are 4 spiers that all traders must master in order to stand a chance in the markets. 1 Technical Analysis, this includes your trade plan, support and resistance, risk management, position sizing, how to use technical indicators, where and when to use said indicators and how to read the god damn level 2s. 2. Market mechanics, this includes how the algorithms trade, what the bulls will do, what the bears will do and what the bulls will do. When it comes to the algorithms there are 3 types, the market maker, the quant traders and finally stock whole sellers. Knowing these different players tells you when they may want to buy and when they may want to sell. Who may have to buy and who may have to sell and when these things might happen. Now combination of this creates what is called market structure and that takes us to the 3rd spier. It has 2 parts, market psychology and trader psychology. To understand this then goes back to the points of trading culture and th…
