If you want to fail as a trader, study TA

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Quote from 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?
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Hi MK,

As per our private discussions in the US Daytraders social forum, we always start at the highest timeframe, as, we now know that The Generals operate from these timeframes, and, it is The Generals that we are interested in, not the piddly p.i.s.s. retail traders that are of no real significance.

So, as per another good discussion we had, and if you remember what the GOOD FX trader said about the charts, it is very easy to see what way the price is heading, and if we know what way it is heading, then, we can get ready for when it reaches IMPORTANT levels.

There are a few KEY things that a savvy trader needs to know about in order to determine the lowest risk trades, for, the inverse of LOW RISK is HIGH PROFIT, but, as we all know, most do the opposite, and place high risk trades, but, the inverse of HIGH RISK is LOW PROFIT:cool:

This said, what is ONE (1) of the KEY things that we MUST now understand and learn?

TE
 
Quote from simpletrader01:

if you are looking to get fully backed and have a series 7 please pm me your email address.
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ST, if you are directing this post at The Expert, thank you for the kind offer, but, The Expert does not need the assistance of any person or organisation in order to make GOOD money, for, The Expert has discovered the B&E trading approach, which, can make more than the required amount of money at any time, but, as with all things in life, it is wise to keep the balance correct, for, it is very easy to flip flop and ruin everything in a short space of time:eek:

TE
 
Quote from The Expert:

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You got some ego and some attitude ... hence most likely you're full of ..it. No loss for any forum if you go away ... "expert" ... :) :) :)
 
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
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Hi JS,

Some valid and not so valid points.

1. Live trading small size is a must at first = experience

2. Studying RTA (Regular TA) is a TOTAL WASTE of time

3. A wise man learn from the mistakes of others, not his own:cool:

TE
 
Quote from themickey:

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.
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I will reply, as your nick warrants it, for, you are indeed a little mickey man:D

What aspiring traders NEED to do, is learn the ability to quickly tell the idiots from those who posses actual trading knowledge, which, is only gained from experience in the markets.

Idiots and Fools will always strike out when they do not understand, for this is human nature, and, it shows just how stupid and ignorant the majority are, hence, the majority will always lose in the trading game:)

For those who are SMART enough to see the difference, well, half the battle is already won, and, for the likes of the little mickey men, well, lets just say that they will always be little mickey men:D
 
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.
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Is it not amazing how those with low intelligence clearly state what they actually know, for, just look at this:D

1. themickey
2. munnyhunney

what a bunch of tulips, really

:D TE :D
 
Quote from Fibbin-Archie:

Cont'd.

Indicator the clue is in the name, it indicates, it doesn't tell.

If you view TA from the "holy grail" perspective, ie. take an entry off of just a MACD cross or whatever, then of course you are doomed to a pitiful failure.

It is just one piece of evidence (I don't use MACD incidentally, at least not in the way it was designed to be used). As technical traders we need to work on the principles of Napoleonic Law, ie. guilty until proven innocent and we need to view any isolated signal with suspicion.
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OK, I will jump ahead as it is required.

What I have clearly stated is that if one goes down the track of studying all the TA indicators derived from math formulas, then, one might just find out that one is going to waste a lot of time.

That time, can and SHOULD be spent on doing what IS REQUIRED to do in order to make money trading.

Time = Money

I have seen charts with so many stupid squiggly lines on them, I thought I was judging a children's coloring competition:D

The price of a stock (and for the purpose of clarity, and profits, we will now assume that all of our discussions are in relation to US Stocks, not Index Futures, Commodities, FX, bla, bla, bla,) moves for several reasons, but, the main reasons have ABSOLUTELY nothing to do with squiggly lines on a chart:cool:

Come on, we are not reading Alice in Wonderland, we are in the hard and fast world of gambling, and, if you are not up to it, then YOU WILL get relieved of your money by those who know what they are doing:cool:

Listen to the idiots and fools all you like, but, know that they will never have any effect on how and why a stock price moves as it does, but, a small few of us know exactly how to read the markets correctly, and as such, we are in a position to enlighten those who are willing and able, but, as mentioned, you MUST learn the ability to quickly distinguish between those who know and those who do not know, aka, idiots:D

TE
 
Quote from Pekelo:

This has to be one of the most anticipated new threads ever, and so far it is a "but where is the meat?".



+1

After 3 days and 7 posts we got pretty much nothing.... There is nothing like a good first impression.

Maybe the OP wants to take a nice long weekend and retry next week. 3rd time is a charm.... :)

P.S.: An occasional correct prediction about the market wouldn't hurt either...
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In order to make GOOD money trading, YOU must learn what PATIENCE really means, and it is not people lying in Hospital beds :cool:

TE
 
As we wait for some answers to one of the KEY things, let us now move on quickly, as it is obvious that some of the PATIENTS are eager to get home quickly:D

To make GOOD money trading, what do YOU think we should be looking for, and why?

Please think before you reply, as, The Expert will be asking you for valid and logical reasons to support your answer/s:D

TE
 
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