Guy..
It's all good but seriously, with the utmost respect, you need to check some facts first. Please, don't take this on the offensive. If I may, I'll give you a hint form experience.
Do a research about floor traders. If you have the chance to talk to one, by all means do it. Ask him what time frame does he prefer to trade - how consistent he is and how long he's been trading.
I am so sorry but you observation on price action needs to be refined . But I won't go far in here because smells like a pissing match, really. One thing I will have to agree into some extent with you is that big institutions put a lot of weight on price levels and Guy, really, the trick is not to fight them but to play along.
About consistency - the facts speak for themselves. There's a universe of traders leaving their eyeballs glued on the screen - twisting here and there, changing timeframes - trying all kinds of indicators. to trend or not to trend etc, looking for consistency like the pot of gold at the end of the rainbow. So, why the aren't? The energy they put has been directed in the wrong direction. They have a pre-conceived idea that with a couple of moving averages, consistency is going to magically appear on their P&L's. It takes more than that. Markets are simply put: irrational. The more you tweak your "systems" the longer will take to get on the profitland..
Beliefs are irrelevant on the markets.
If you're going to talk consistency, then you need to know your market. That should be a start. You can't be consistent just bending yourself over and throwing farts at the moon. There's (again I am repeating myself here) an unique characteristic on every market you must know beforehand. Please, refer on my last post so I don't have to repeat myself here. Thanks
One of the most celebrated pissing matches in this business is the all so called longer time frame vs. shorter. There's no edge on that, really. If you don't have a clear view on the market you're trading, a bigger timeframe will only serve to extend the agony. But I will stop right here. As I said before, is not my intention to start a pissing match - a common behavior here at Elite Trader.
Guy, this is going to be my last post. I came to ET just checking some brokers and I found your thread interesting. Unfortunately the quality of threads and post in this site has degraded so much that is no worth for me to even come back. The mods here are all nothing short of a joke, well really there's no moderation. It's amazing how some people has to rely on insults in order to make a point. That's a definite sign of lack of knowledge.
If your intentions is to make a point , well by all means keep banging some other doors . But if you want an honest view on this subject to exchange information, then you can count me in with this post.
Thanks.
