If you want to fail as a trader, study TA

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Quote from odlareg:

AR + BE + PE = GM?

Adequate Range + BE + PE = Good Money

Nothing on market Profile here.

TE, what is the level of importance of BE/PE in the range of 1-10,
10 being very high?

Starts to be a zoo here with all the falcons,gulls, deaddogs and sponges. I am more into planting potatoes in woods belonging to others. I like Sponges though, and rabbits.

MK, what are you saying with the documentary?
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GO, very good question, as they go hand in hand, so, out of 10, BE will be 9, and PE will be 1.

Reason, PE is not in the equation once you are filled, for, to exit you are not waiting, you are reacting to what is happening.

BE is 9, as, if you don't get it right, then you are doomed from the start, even with all the favorites:cool:

TE
 
Quote from goldboy:

really? Why isn't ta taught by prop firms as anything other than analysis or barely mentioned as viable? Ask don bright if his firm teaches TA. Ever wonder why not?

Only those who need pictures feel they need to be decieved by charts
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Simple, in order to teach something, you must first know what you are talking about:cool:

Mr Bright, is not all that bright, although he is obviously very bright when it comes to suckers:D
 
Quote from Redneck trader:

Well TE,

If I were guessing – $1.10 (.37) .14

But then it doesn’t pay for a dumbass redneck to guess – does it :)

See Ya
RN
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I knew it, I said to myself, surely there will be one dumbass here that will know The Experts move before he makes it:cool:

It looks like TE will have to get more cryptic to keep the dumbass traders thinking :D

TE
 
Quote from goldboy:

I disagree.

The bright firm teaches what works since their survival is based on your success.

Any prop firm that requires your success does not teach ta. It's not just bright like him or not
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Mr Bright, and his team, are free to do what ever they like, and, I wish them every success in their business of making money from volume transactions.

Some of us do not require the help and assistance of any person or organisation, and, what we do can be done by any level-headed person, from the comfort of their own home or office, with just 2.5 to 3 hrs per day required, with the rest of the day being free to walk in the country and listen to the beautiful silence, or, if you are like TE, also watch Spongebob Squarepants when ever he is making money for Mr Krabs:cool:

TE

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Quote from charts:

What does it mean when people refer to themselves in the third person? (google it) Maybe that's why this thread is in "Psychology" ... :)
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NEVER believe anything you read until you have proven it to yourself:D

The Expert can do as he likes, as he is The Expert, and, others can also do as they like, for, each person has a choice, but, if one wants to make money daytrading US Stocks, then, it is advisable to choose wisely:cool:

Weak minds falter whilst strong minds advance, has been, is, and will always be :D

Now, go away and read some more rubbish, for, you seem to enjoy it, and when you find the "explanation" for that activity, you can let us all know:D
 
Quote from wrbtrader:


Therefore, it's more than just colors. It's about the how we orientate our charts on our monitors, location on the monitors and so on...it does have a profound impact on our decisions while trading in stressful conditions.

However, it's more than just that if you look at how we explain our TA or any other type of analysis to others. We show nice looking maximized charts when in reality this isn't the same chart size on our monitors and the price action on the chart looks different at the time of a trade signal in comparison to a maximized chart long after the fact.

Thus, be very careful in learning TA only from nicely maximized hindsight charts because it can easily instill slow reaction to trade signals and other perception problems when trying to do it in real-time as it is occurring.

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+1
Excellent
 
I love TA and couldn't possibly make a living without it. The biggest mistake I see new clients making is that they are using the wrong study sampling period timeframes for the market space they are looking at. They are also using the default 'close' setting for timeframes - that's junk also.
 
TE............I'm pretty sure I saw that fingerprint picture sometime today or last night, but I can't remember where or what it is. I also don't remember why I brought up market profile, other than I saw it mentioned and it seemed like something that could increase the odds.

If trading is gambling, which it obviously is, then does a trader have to have a specific strategy?

What if today I see a strong stock in an uptrend, and after a move down an important price level is hit, and I also see a pattern for all the fools to take, and then I see all those fools get stopped out. It then reverses back up. If that trade has a $1 risk and a $10 reward I want to take it.

What it tomorrow I decide based on the weekly QQQQ chart to buy puts on it 2 months out because I think the weekly chart may be topping out? Risk 2 vs Possible Reward 20. Why not?

The next day I see a stock gap down after an extremely narrow range, and then it crosses back above it's open during the day, and I see a 1 risk vs 3 reward trade.

Do I have to have a pet name for my trades, or can I just use common sense (or uncommon sense)?
 
Quote from odlareg:



MK, what are you saying with the documentary?
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Odlareg, I'm not really saying anything with that quote about the starlings; I just found it interesting if you think about the stock market.

Maybe when price gets to a certain level the "experts" are uncertain what to do just like everyone else. Maybe one of them jumps in and buys; the others just watch. Another jumps in and buys. The others just watch. Another buys, then another, then another. Now you got 5 in. All of a sudden all of those who were just watching finally see enough evidence and they all jump in too. It's a done deal, and the market's going up.

Maybe that's all there is to it sometimes. Just groups of "experts" jumping in because the other "experts" jumped in. Maybe they aren't as smart as some make them out to be.
 
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