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Great, you see the main psychological problem which stops most from becoming consistent. Solve it and you'll get a chance. Indeed, most simply fail to accept the fact that losses are integral part of successful speculation/investment. They desperately try to find "magic formula" to avoid...

But you are still not consistent, which is not a surprise with being addicted to EA's aka "magic formula". Sadly, but Xspurt pointed it out very well. So all you know is what is wrong, not what is correct in trading. You have all signs of chronic "holy grail" "get rich quick" "fairy comes and...

Brother Oily, do you realize that fact of failures existing and % of those failures of raw TA setups has absolutely nothing to do with the fact if those setups are junk or not? Do you understand that pattern may not "fail" only 20% of time, but still have a great edge? You are interested...

Really? Failed reversals occur in strong trends? What a shock! :D LOL, brother Oily, you made my day early in the session, thank you so much! :)

So what, get in on the 3rd and enjoy the ride... Oh you don't like it, you want certainty in your life? Then trading is simply not for you, better admit it ASAP than torture yourself more with vain efforts. Same with all TA, including your pivot points example above. It's always context, odds...

"Better" is too subjective and broad term. I agree that long-term investment in the right instruments is good approach, but why is that necessary oppose it to short-term trading?

Thanks. :) Brother Oily is just too superstitious, "sees" scams everywhere like demons wandering among people. :D Must be based on his sad experience related to trading in general and financial services in particular.

Being a member of family of at least 5 generations of people devoting their life to science and having Ph. D. myself I can definitely say academics are wrong just as often as ordinary people. :)

Have never met a tiger living in Siberia. :D Quite many bears though. :p

Let's take the following example: accumulation of instrument X starts in the price area Y providing TA trader with the pattern, which shows with average historical probability of 60% and average historical R:R of 1:3 that it really is accumulation of a serious amount, likely to spawn a new...

Agree with you on the factors. Of course it's not only the price itself which drives the price (though price itself too, think about people joining the rally "because the market grows") and knowing fundamental factors is a valuable knowledge. But TA is very efficient to time entries, to gauge...

I didn't say "work", I said "make"... So do you make a living by trading or not? :)

So you don't make a living by trading, that's just a hobby for you along with discussing it?

Why are you messing with such a dirty business full of scammers then? :)

Someone has to lose to provider winner with the winnings. See no problem with 80% or 99.9% losing rate as long you are not in that %. :D

Funny... list of scammers and crooks by Oilfxpro is growing. :D

There is no such thing as "current price", only past price or future price. But if you speak of future price, it means you claim to know future?

You didn't answer how exactly you use price if not historical price?

Considering rich and successful people crooks by default is very typical for poor mentality. Get rid of this complex of fault associated with wealth or you won't make good money ever. It has nothing to do with reality, just with losers rationalizing their inability to succeed.

Then MM is still of secondary importance, because it's only a way to optimize equity curve and is not relevant to having or not having an edge itself.