Dear trader friends,
Maybe it's my english but i didn't want to discourage you or upset or disappointed. Please choose the best one you can select.
As a data scientist, i know what's discrete and stochastic. I know what affects what and there are probabilities.
During my work on trying to find patterns and etc. I have tried many things like:
1. Fourier transformation
2. Standard deviation of movements, momentums, prices
3. Discrete, semi-discrete, high-probability patterns
4. Candlestick patterns (this one was the easiest one. Failed at the first and 100th try)
5. Price action patterns
6. Volume patterns
7. Orderbook patterns
8. Overbought / Oversold (there's no such thing)
9. Slope prediction
10. All other predictions
and etc...
Do you know most of them failed somewhere 50% in the longterm. For example, they made money in 2017 and lost in 2018.
Tell me this:
You see a strong support or resistance. How can you tell if a support is strong or not? Easy answer would be: If tested more than 2 times or more, it's strong.
So do you mean it's going to bounce at the 4th time? No! We can say it was strong in the past. We can see after everything is happened. When you go long from a support and it breaks out, what are you going to do? You will reverse the position and go short. What if it was a bear trap? Again, you will reverse. And there's no high probability that it's going back down.
You can not trade supports and resistance. They are there and we know that. But you can not trade them comfortable. You can not realise if they are strong or not until they show us which is too late.
Let's say you find a trading channel. Ascending and descending. You will never know if a breakout is coming or not. Maybe you can scalp some but that's it.
Ok let's forget everything and show me a study that proves trading is a profitable system. One i have found is double momentum and the win-rate is somewhere 52%. But again I'm talking about 1:1 RRR. Show me a study that wins more than 50% in long-term which is above 60%??? There are tons of that btw. Deep learning, machine learning and etc. Just show me one!
PS: I love June....
Maybe it's my english but i didn't want to discourage you or upset or disappointed. Please choose the best one you can select.
As a data scientist, i know what's discrete and stochastic. I know what affects what and there are probabilities.
During my work on trying to find patterns and etc. I have tried many things like:
1. Fourier transformation
2. Standard deviation of movements, momentums, prices
3. Discrete, semi-discrete, high-probability patterns
4. Candlestick patterns (this one was the easiest one. Failed at the first and 100th try)
5. Price action patterns
6. Volume patterns
7. Orderbook patterns
8. Overbought / Oversold (there's no such thing)
9. Slope prediction
10. All other predictions
and etc...
Do you know most of them failed somewhere 50% in the longterm. For example, they made money in 2017 and lost in 2018.
Tell me this:
You see a strong support or resistance. How can you tell if a support is strong or not? Easy answer would be: If tested more than 2 times or more, it's strong.
So do you mean it's going to bounce at the 4th time? No! We can say it was strong in the past. We can see after everything is happened. When you go long from a support and it breaks out, what are you going to do? You will reverse the position and go short. What if it was a bear trap? Again, you will reverse. And there's no high probability that it's going back down.
You can not trade supports and resistance. They are there and we know that. But you can not trade them comfortable. You can not realise if they are strong or not until they show us which is too late.
Let's say you find a trading channel. Ascending and descending. You will never know if a breakout is coming or not. Maybe you can scalp some but that's it.
Ok let's forget everything and show me a study that proves trading is a profitable system. One i have found is double momentum and the win-rate is somewhere 52%. But again I'm talking about 1:1 RRR. Show me a study that wins more than 50% in long-term which is above 60%??? There are tons of that btw. Deep learning, machine learning and etc. Just show me one!
PS: I love June....