If you want to fail as a trader, study TA

[macattack]

There are certain price levels which are important. How do you decide what course of action to take at those levels?

For instance if a stock is in an uptrend and reacts down to an important level what factors do you watch to decide if that level will hold, or if that level may collapse and go down to the next level?

 

[JScott]

Quote from The Expert:

Correct

So, to move on and stop talking rubbish, like one of the recent posters , if you STUDY TA then you are more than likely going to fail as a trader.

To be even more specific, if you waste countless hours and effort trying to study about math derived TA, such as MA's, MACD, Stoch's, Bol Bands, and all the other useless math derived studies, then, you are, well, lets just say, barking up the wrong tree entirely, like most do of course

TE

Dunno about that, here's how I learned to trade the NQ and barked up a worthwhile tree:

1) Understand price action basics (sorry, gotta study a bit)
2) Ground your beliefs
3) Develop your own "setups"
4) Study charts to make sure you are at least in the ballpark (doh! did I just use the "s" word again?)
5) Trade it (small, baby, small)
6) Toss what don't work, keep what does
7) Repeat indefinitely . . . ever wonder why some get it in 6 months, others in several years?

MA's, MACD, Stoch, BB . . . anythng and everything works as part of one method or another. Don't be a snob.

But to the OPs point . . . for every one part of studying, you need at least equal parts of doing.

Keep trading.

J.Scott

 

[clacy]

Oh God, here we go again. Another self proclaimed "Expert", who makes grand claims about how much knowledge he can profess......Then he goes on to only make very broad, generalizing statements. He answers questions with questions and then purposefully obfuscates any answers that he's cornered into answering.

 

[mindtrade]

I think the op is nysestocks... I hope so anyway!

 

[themickey]

Quote from clacy:

Oh God, here we go again. Another self proclaimed "Expert", who makes grand claims about how much knowledge he can profess......Then he goes on to only make very broad, generalizing statements. He answers questions with questions and then purposefully obfuscates any answers that he's cornered into answering.

Agreed! This thread is all about stroking his little ego, seeing how long he can drag as many posts and pages onto ET, a little johnny come lately boy trying to play being a man.
It's obvious how he is doing this, making a controversial statement then playing along the crowd (ET suckers) like a fiddle.

 

[Fibbin-Archie]

So far we've got 50c + range, about time for another clue? Time of day? Behavioural? Wyckoff maybe?

 

[Bakinec]

Quote from mindtrade:

I think the op is nysestocks... I hope so anyway!

Me too. This quote gave him away:

To the others, whom I will not call idiots for now, but I am very close to doing so , all I will say is go away and converse with those who think and act like you, for, you have a lot to learn from each other

 

[Fibbin-Archie]

Quote from JScott:

Dunno about that, here's how I learned to trade the NQ and barked up a worthwhile tree:

1) Understand price action basics (sorry, gotta study a bit)
2) Ground your beliefs
3) Develop your own "setups"
4) Study charts to make sure you are at least in the ballpark (doh! did I just use the "s" word again?)
5) Trade it (small, baby, small)
6) Toss what don't work, keep what does
7) Repeat indefinitely . . . ever wonder why some get it in 6 months, others in several years?

MA's, MACD, Stoch, BB . . . anythng and everything works as part of one method or another. Don't be a snob.

But to the OPs point . . . for every one part of studying, you need at least equal parts of doing.

Keep trading.

J.Scott

Good post, as to why some can do it in 6 months... Because they focus on developing skills and protect risk capital (trading small lots) whilst doing it. Ironic really, as if a novice trader focusses too much on profit, that's pretty much going to guarantee that they will not be profitable.

I don't agree with the whole million hours (or whatever) of screen time before you can achieve proficiency. If you can weed out what does and doesn't work for you quickly and then just focus on developing those skills, you will cut your required screen time dramatically.

As I'm sure the OP will agree, in the big scheme of things time does indeed equal money, however it is essential to get the basics right first, whatever analysis you use.

 

[munnyhunny]

Well said.
OP just another dumbass with a huge ego trying to justify failures by "convincing" others that if he didn't, how could they.
OP, get a life/clue/grip.

Quote from HiF trader:

the guy just got banned from other site

and you are all chirpy waiting for him to chime in

what makes you think this guy knows anything

you people need to get a grip in life

 

[Fibbin-Archie]

Quote from munnyhunny:

Well said.
OP just another dumbass with a huge ego trying to justify failures by "convincing" others that if he didn't, how could they.
OP, get a life/clue/grip.

He's made a good point already, studying vs. doing...

Let's save the wise cracks and insults and not pre-judge, I can see this thread quickly degenerating into the debacle that was the T2W thread, if we're not careful.