The dice are cast...the line in the sand is drawn. Unfortunately you both don’t understand the line. ROFLMAO
can price action predict market moves
- Thread starter geth03
- Start date
Waste of time with the Flat Earth Society volpri.
Hint: patterns form because of forces. Forces create inertia. Inertia creates opportunities. Setups create entries and exits correlated with patterns that depict inertia. Tapping inertia producing jingles in the cash register. That makes momma happy. THAT IS ALL THAT MATTERS. Life lessons by volpri ..and free to boot!
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if price breaks out out of that triangle on large volume, you will enter in direction of the breakout.
if breakout is in trend direction, that will add confidence to pull the trigger.
if price makes a fake out, you will of course fade the initial breakout attempt.
put your stop behind one end of the triangle and aim for a 2R trade, if you trade multiple contracts, leave one out for a potential runner and move your SL to breakeven to minimize exposure.
bla bla bla bla............
They fail because they don't have an edge. Simple as that. And the reason is this:
Historical prices very seldomly have predictive power. Those who are long term consistent very carefully pick their battles and just as in poker push when the odds are in their favor. That happens very rarely. There are many other trading approaches but I am only focusing right here on trading on the basis of past prices. The mistake most retail traders make is that they overtrade and overleverage. Most of the time they trade against random price moves. Of course every price move can be explained in hindsight. But in the moment it is not known to traders most of the time, at least on the basis of past prices. If traders picked high probability patterns more carefully they would be much more profitable, at least would lose a lot less money. Whether you call those people gamblers or anything else is irrelevant. Relevant is that most of the time there is no edge in predicting the future based off past prices. To identify the few times there is an edge is a true art and takes years to master. Most retail traders have not mastered that which is why they keep losing money.
Historical prices very seldomly have predictive power. Those who are long term consistent very carefully pick their battles and just as in poker push when the odds are in their favor. That happens very rarely. There are many other trading approaches but I am only focusing right here on trading on the basis of past prices. The mistake most retail traders make is that they overtrade and overleverage. Most of the time they trade against random price moves. Of course every price move can be explained in hindsight. But in the moment it is not known to traders most of the time, at least on the basis of past prices. If traders picked high probability patterns more carefully they would be much more profitable, at least would lose a lot less money. Whether you call those people gamblers or anything else is irrelevant. Relevant is that most of the time there is no edge in predicting the future based off past prices. To identify the few times there is an edge is a true art and takes years to master. Most retail traders have not mastered that which is why they keep losing money.
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Flat earthers.....
https://www.bbc.com/news/world-us-canada-51602655
Too bad he didn’t believe Nasa. But grandpa didn’t either. I remember him watching the moon landing and say “phew!” “they are deceiving you all but not me. They are in the mojave desert!” Unfortunately grandpa died too, missing the space shuttles...space station...trip to mars...you wonder if heaven is flat? Whatever it is grandpa made it there. Of that I am quite sure.
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Yes a very few times. Can you explain why professional traders rarely make predictions based on charts? Why does hft trade off data and not charts? Why portfolio managers don't make investment decisions based off charts? Why most hf pms don't trade off charts? Is there a logical explanation? Because it completely contradicts what you stated.
Sure link please or you made up bs. He has never shared a single trading algorithm they ran in the firm. If you honestly think that he was serious when he shared anything relating to charts in any of his few interviews (if he ever did share anything re charts) then you are nuts.
I posted the passage several times in the past on ET from The Man Who Solved the Markets which is the story of Simons and his funds. Read the book or look the post up, I am done with fools.