100% PERFECT TA setups... If you're not watching for these, you might as well go flip burgers.

smallfil said:
There is no such thing as 100% perfect setups. Thomas Bulkowski in his Encyclopedia of Chart Patterns book tested numerous chart patterns. A lot them have a 51-52% win rate and others winning only on 47-48% of the time. Add to that slippage on when you get out of losing as well as winning trades, the chasm between success and failure is huge. Keep dreaming. A sucker is born every minute.
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Good points, but some can do better than /that, semi private markets;
looks like you are talking about public markets, mostly liquid markets .
I dont have time to do all the research on his chartpattern\
but if its hourly moves> down arrows could be about 80% chance[rounded UP LOL + not counting slippage + expences] for \today anyway.
PT Barnum also had a newspaper + spent 2 month in prison for libel

NOt sure if they ever tested the Big Trends book[Price Headly[ patterns[honest enough to figure his option trades 100% intraday drawdown].
Good Big Trends nickname\ Elephant Trunk[ hindsight insight ] Sell Signal.
15 minutes to close i seldom trade this late, sometime enter then.
 
Any number of things can act as S/R, channel lines, Prior day HLC, current day open, prior swing lows and highs, supply zones, measured moves, fib extensions etc etc. Which and/or which combinations used need to come from the effort of understanding price behavior and testing your ideas based on that effort. It will be different both in plan and results for everyone. You would be better served trying to find a unified theory of theoretical physics on one of these threads than any "easy" consistently profitable trade plan. In Scat's defense, he knows where to get cheap used Dell computers if anyone is interested in that sort of thing.
 
speedo said:
Any number of things can act as S/R, channel lines, Prior day HLC, current day open, prior swing lows and highs, supply zones, measured moves, fib extensions etc etc. Which and/or which combinations used need to come from the effort of understanding price behavior and testing your ideas based on that effort. It will be different both in plan and results for everyone. You would be better served trying to find a unified theory of theoretical physics on one of these threads than any "easy" consistently profitable trade plan. In Scat's defense, he knows where to get cheap used Dell computers if anyone is interested in that sort of thing.
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LOL Market Makers Edge [Joshua Lukeman] used hindsight+ insight analysis also\
but used Newton's Law1st or 2nd law.
MCD[burger+ fish flipper, franchise + Co] makes some good money; most likely better than most all young daytraders.
But with QQQ making top tail on weekly+ daily charts below 50dma+ SPY not much better;
each to his or her own business . MCD has good coffee, but expensive:caution:
 
murray t turtle said:
%%
LOL Market Makers Edge [Joshua Lukeman] used hindsight+ insight analysis also\
but used Newton's Law1st or 2nd law.
MCD[burger+ fish flipper, franchise + Co] makes some good money; most likely better than most all young daytraders.
But with QQQ making top tail on weekly+ daily charts below 50dma+ SPY not much better;
each to his or her own business . MCD has good coffee, but expensive:caution:
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Yep momentum is momentum whether it's price or a boulder rolling down a hill.
 
hilmy83 said:
X's are places I marked where a trade would've been taken that failed by jsut using the basic definition of s/r and trendlines.

This hightlights the fact s/r and trendlines are disgustingly subjective from one person to another.

But also proves the point that trading courses take advantage of this because they can be selective in their presentation, but in reality it's worst outcome than what they show.
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Ah, now I understand your disdain for TA... you don't understand as well as you think you do.
 
schizo said:
Geezus, doesn't the OP ever get tired of posting these same ol' platitudes? :rolleyes: Damn bromide-inhaling bloke.

Needless to say, they're all hindsight analysis. It's an insult to one's intelligence.
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I have a feeling that OP joined the bullshit-spreading channel. It is common for traders who made some kind of an edge to start littering around with all sorts of charts and nonsense to confuse newbies.
Every forum is full of these kinds of posts. It is all garbage to confuse readers who might be looking for some help.

I confronted him a couple of times and he blocked me immediately. After claiming that he is some kind of a millionaire, a post like this one doesn't make any sense.
He is either an utter loser or a psychopath looking to shit down on others as much as he can.
 
OP is behaving like a professional talker/writer and not a professional trader.

The trading win rate for the professional writer/talker is less than 1% (best case).
They are hopeless in trading.
But fantastic in writing/talking
 
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