I have tried everything and nothing works (Technical analysis)

IMO you gotta learn to trade with a macro trend (wind in your sails sorta speak). Which method you use becomes a secondary factor in that case. Reward vs risk is a primary concern. You will always struggle to have a consistently high strike rate (streaks will come & go), that's why it's so important to have reward at least x2 the risk.
 
Technical indicators can improve your odds, but they were never meant to be perfect. They can send out wrong signals from time to time. However, when you are experienced in their use and good interpretation can lead to a level of consistency that can translate into net gains and profits in the long term
 
Technical analysis can only tell you were the underlying has been historically. The interpretation of the historical artifacts will skew your success vs failure, we each take a side. The future is anyone's guess, for every buyer there is a seller. IMHO If it worked 50% of the time we'd be rich. There is something to be said about market neutral strategy for the long run, half the battle is capital preservation and beating the indexes consistently.
 
Xela said:
I always think of "edge" in purely statistical, probabilistic terms.

I'd define it as "the degree of confidence with which you know that backtesting and/or forward-testing have reliably demonstrated that it's a method which consistently wins more collectively from its winning trades than it collectively loses from its losing trades".





I hear you ... but "all those other things" you're thinking of, the practicalities, skill-set, and so on, all of which are equally necessary, I think of as "technique", not "edge".

I'd say that the trade-management rules ought to be part of the definition of the method, part of the fixed parameters that form the determination of whether or not it has the statistically proven "edge" in the first place.

You need lots and lots of different things in place, to be able to trade successfully over the long-term, and any one of them being missing can prevent that from happening. But I think it's fair to say that "lack of a (statistically proven) edge" is a very common reason - perhaps the most common single reason - for aspiring traders not making it.
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Edge is doing something that can't find in a book
 
alfa8 said:
No subtitute for hard work.

if you want to speed up the process of hard knox learning; do some paid courses. I recommend Kim Krompass for a start. Her method is very simple; and she has weekly webinars to help you out practicing the method. If you are lazy; you can just follow her signals; and get your money back from the markets.
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Kim Krompass is horrible for beginners ... I'm surprised she's making money
 
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