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bathrobe is right. everybody is a know it all... unfortunately.

What I have noticed is that most people starting out (and this has been the case with me a long time ago and most of the guys in my office) is that the first thing they look for is TA oriented material... And since the public wants this badly, all publishers favor TA books. However there are...

Let's get one thing straight! Throughout the history of trading there have been people saying TA does not work and have conducted studies showing it doesn't work AND there were also the same amount of people doing exactly the opposite thing and showing through studies that it does work...

Yes, Wyckoff too. Great insights from people actually trading the markets. However, they are not for beginners. The Crabel book is a collection of Mr Crabel's personal tests regarding opening range breakouts and short term patterns that refer to the Close vs Close or the Open vs Close...

Errata: Close = NY Cut so again: Open = London Open Close = NY Cut My mistake.

Actually a good book to understanding price action but only as a reference is Toby Crabel's nook "Day Trading with Short Term Price Patterns and Open Range Breakout" ( i hope the title is correct). The idea is that you should never take a book or a setup from a book and apply it in your...

Back with the fresh stuff :) Since the daily chart in FX is a totally fake matter. It's arbitrary, synthetic and the open, close doesn't mean anything, i have a suggestion. Pick an Excel spreadsheet and fill in the daily data as follows: Open = London Open High = London session high...

None. The best way to approach TA is by osberving the market a long time and then develop you own framework.

seems there is a common ground to all who have been profitable even for while. It can only be done once you feel comfortable with what you use!

Finally a very good thread on ET. Keep em coming boys. Personal experience and opinion: It takes about 2 years to learn the dynamics and that includes TA, some elements of FA (talking about traders and not investors). Then it takes about 2 years more to wander around testing...

depends what is your position within the hedge fund. it would be counterproductive to dispose of the fund manager. who would run the fund instead? if you were a regular trader, you basically don't have a "strategy". You just do what you're told.

it's an advertising strategy we don't know about :))

Paul Tudor Jones might be right about the 5% winner daytraders, but I doubt he can actually come with a real proof about his statement and I also doubt the statement was objective enough... Of course, being a longer term trader has it's advantages, but being a good daytrader beats that...

edge is something aspiring traders long for! they think you need an edge over someone or something in order to make money. they think they are part of a large crowd and they need to be head and shoulders above the crowd and make money. they also think this edge is something that comes...

:D The ramifications are.... your platform starts freezing, executing cancelled orders, withdrawals take longer to get to you... and so on!

just my little fx trading desk. i like desk lamps.

if they are within your discipline...

i think doing that will not be any fun at all... trading randomly ... hm :)

yes. hedge funds break up accounts and the reason mike mentioned is one of them. for a retail trader, there is another advantage of splitting up and keeping it low in size when he wants to withdraw funds, the withdrawals will be smaller and therefore the broker will not become aware he...

minmike: First of all I was talking about traders and not markets. For a retail trader an 100k account is a decent sized trading account. Second of all, I was giving 100k just an example. It had no relevance if it was 100k or 100million. The PS was not necessary. I hope you realize that. I...