If you want to fail as a trader, study TA

[MAESTRO]

Quote from limitdown:

a very dul edge at that.


one need watch price action and then filter through the rose colored glasses their perspective ...

any trader, or company only represents a fraction if not a small percent of participants at that particular vehicle being traded...

as such, one need have some indication of what the other participants are doing and have done during the trading and most recent trading days..

TA serves that limited purpose, but predictive, well that makes the basic mathematical presumption that all things being equal or remaining at the same momentum of participation...

perhaps now one can clearly see the flaw in what makes TA (technical analysis) both the most useful tool and the least useful tool....

trading has always been about competing contradictions, as if being a contridiction wasn't competing enough....

EXTREMELY well said!!! I am very delighted that brains are still alive on this site! Very well said indeed! If you don't mind I would like to ask your permission to quote you in some of my debates.

Cheers,
MAESTRO

 

[Mysteron]

Quote from MAESTRO:

.... My company finally decided to allow a limited access to our proprietary tool through the minimum monthly fee.....
MAESTRO

Says it all really!

 

[Mysteron]

Quote from MrPowerBallad:

Maestro has been around this website for a long time and has generally contributed some of the higher quality posts throughout the years. He's earned the right to let people know he has a new tool for sale. Also, his recent posts and link to software are relevant to this thread since they offer an approach that doesn't involve TA.

Insidious advertising by a vendor is not appreciated.

 

[Mysteron]

Quote from MAESTRO:

You are new here and probably don't know me. So, before you say something like that you should check who you are talking to. People know me here; and they know that I have never pushed anything. If you don't need help just ignore my post. But assuming things is not going to get you anywhere. Good luck! (God knows you are going to need it!)

Cheers,

MAESTRO

Such arrogance!

I don't tug my forelock for anyone!

 

[Fibbin-Archie]

DT, we once had a discussion re. Fib levels, I just wanted to prove a point...

I've circled yesterdays high and this mornings low on £/$

I've also circled where the 23.6% level acted as resistance twice, was taken out on the third attempt and then came into play again as support.

A picture paints a thousand words...

 

[odlareg]

Quote from Mysteron:

Such arrogance!

I don't tug my forelock for anyone!

Mysteron, remember: Do not loose your open mind

I just returned from a small holiday in the wild. I think you and MK are right on track with the levels. Just now to see what levels are important. I think it is where the generals show their hands. The higher frames show this. Also gaps can be placed in this higher frame to understand them.

 

[Fibbin-Archie]

Quote from odlareg:

Mysteron, remember: Do not loose your open mind

I just returned from a small holiday in the wild. I think you and MK are right on track with the levels. Just now to see what levels are important. I think it is where the generals show their hands. The higher frames show this. Also gaps can be placed in this higher frame to understand them.

agree, but day and short term traders make up a significant proportion of the market, so it's worth being aware of which levels they are looking at also.

I'm exiting the last portion of my positions too early, any advice anyone?

 

[odlareg]

Quote from Fibbin-Archie:

agree, but day and short term traders make up a significant proportion of the market, so it's worth being aware of which levels they are looking at also.

Yes, ofcourse, all true.


I'm exiting the last portion of my positions too early, any advice anyone?

Just let a part run. Sell in portions. Or better, try to find another level where the market show its hand. The last is ofcourse the best, but maybe better first to build confidence? btw search sam seiden tradingacademy.com. All about supply and demand and where to find it.

 

[Fibbin-Archie]

Quote from odlareg:

Just let a part run. Sell in portions. Or better, try to find another level where the market show its hand. The last is ofcourse the best, but maybe better first to build confidence? btw search sam seiden tradingacademy.com. All about supply and demand and where to find it.

thanks, will do. I think it's down to discipline, I'm taking the last few contracts off because they're showing a reasonable profit & no other reason, some psychological trading baggage I need to iron out, I'm cutting losers quick smart tho' thankfully.

 

[odlareg]

Quote from odlareg:

Just let a part run. Sell in portions. Or better, try to find another level where the market show its hand. The last is ofcourse the best, but maybe better first to build confidence? btw search sam seiden tradingacademy.com. All about supply and demand and where to find it.

Off course i mean theFREE resources archives.

FA, you must before the entry, know where to exit, to calculate your risk return ratio. So when you do not know this before you enter, it is like blinded gambling. When you know before entering, it gives a huge mental relieve. You start to see expected direction, the entry range, the stoploss range and the reward range.