22 points straight down top to bottom since 10 AM ... Quite a smash
How can you even claim that technicals matter?
- Thread starter farmerjohn1324
- Start date
22 points straight down top to bottom since 10 AM ... Quite a smash
That's one of the reasons why traders fail...nothing to do with technical analysis. Thus, brokers give too much leverage to sucker in customers and there's nothing in place by the broker to ensure the customer does not abuse the leverage.
Thus, you do not have to use those crazy leverages by the brokers.
Leverage is a poison to traders...very few are immune to its toxic impact.
Yeah, you're right, if someone gets lucky while using a lot of leverage...they claim they are a genius.
wrbtrader
Tough go for the bottom pickers. It's the bane of the newbie to try and pick tops and bottoms rather than follow the bouncing ball. They panic and move stops, adding to losers until Mr Margin Call knocks at the door.
Of course not, MA's and RSI and all such indicators do not "move the market." They just use some mathematical equation to provide some sort of graphic representation of what the market has done relative to some point of reference. If you think price ever moves because it happens to coincide with an MA or because an indicator pattern presents itself, then you might be watching too many youtube guru videos. Here's the catch: They aren't trading gurus. They are just good at getting youtube page views or whatever.
There certainly situations where there is an 80% probability of price moving so far and in such a direction rather than doing otherwise. There are many situations where there is a 60% chance price will do one thing rather than the other. Why limit yourself to a roulette style edge when there is so much more available to you?
Dest ran $10K up to over $10 Million in something like 20 years. You don't do that piking around with "a slight edge above 50%."
ESH 3241 trades and there goes an opportunity for a what? 3:1 trade or so and that was easily a 60% odds trade.
And, back below 3239 without a quick reversal, odds get high that 3233 trades (and quite lower, in fact is possible) before its time to pack our toys and go home for the weekend.
May I suggest you would have a better vacation if you avoid arguing about technical analysis on a trading site until your return?
Candy from babies, today.
Love it !
What annual rate of return would you be satisfied with from your trading?
How much total time would you willing to apply to both sharpening your skills, and to trading - per week?