Anticipating the Market and Execution - by Martin Chandra

Anticipating the Market and Execution - by Martin Chandra: "I divide trading skills into two distinct elements: anticipating the market and execution. The anticipating part is reading the market, whether through charts, systems, technical indicators or intuition. Anticipating/reading the market is the trading skill that most of us focus all our energy on, and it is the subject covered by most trading books and seminars.

The execution part, meaning the actual trading part, is an often overlooked skill of trading. A good way to clarify the distinction between being able to anticipate the market and being able to effectively execute the trades is to describe the difference between the brokers and the locals on the floor of the exchange. (In Europe the floor no longer exists as all trading is now electronic). "