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The Importance of Market Cadence
In my recent post, I discuss a conclusion from the writings of many trading psychologists: that successful active trading requires an intuitive feel for market action. My experience is that looking at relatively static chart patterns or indicator readings does not provide that market feel. A structural view of markets can be informative, but we get a feel for how a market is moving from the flows of market activity. It's interesting that many of the experienced traders I've been reading emphasize the value of "reading the tape". By watching the flow of bids and offers and seeing how price responds to these, it's ... (full story)