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Wednesday, April 16, 2008

Read Chart Like Reading Green

Golfers who read green delicately are good golfers, because they are serious in making the putt. People who don't play golf are thinking putting is silily simple. How wrong is that! Reading green is not as simple as it seems. Golfers need to be experienced enough to judge the slope, the break, and the ridge (dear traders, does this sound similiar to the Tides / Waves / Ripples?) Let's not forget about the green condition of the day; is it dry? wet? firm? soft? sandy? grainy? and etc.. (similar to traders trying to figure out market sentiment and psychology at that very moment, and I say moment as it can differ from moment to moment).

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Words borrowed from Dr. Alexander Elder:

Trading is so exciting that it often makes amateurs feel high ...Nobody can get high and make money at the same time.

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