because TA indicators and squigglies "predict" price, we have deemed them to be useless. because of this, predicting price is useless. you just have to use the path of least resistance from your s/r lines. the reason the order isnt placed now is because there is no plan for where to get off the bus
If you want to fail as a trader, study TA
- Thread starter The Expert
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Maybe, but also, Maybe not?
It is all relative!
Some use tried and tested techniques to place orders at "important levels".
Knowing these techniques, allows a trader to know what might, or might not happen.
If one scenario does not play out, then odds are the other will, but, it is wise to know that anything can happen at any time, so, even though you were RIGHT, you might still be WRONG!
The art of having more RIGHTS than WRONG, is, as a direct result of how well you understand what is going on.
Each market has its own particular brand of players, and, as most people are habitual, then, it is possible to put the odds in your favor by LOOKING and TESTING.
Trading is a game of odds, and, to become a good gambler, one must think like a gambler.
I know some traders that spend days analyzing charts, and I have seen some call the exact highs and lows, many times, but, what they do not understand, is that, the REASON why it happened is far more IMPORTANT than the actual event itself, for, everything happens for a REASON, and once you get a better understanding of the REASON, then, the odds are greatly in your favor.
BTW, you are CORRECT in all you have said
TE
Quote from The Expert:
So YOU think it is "wise" to learn from YOUR OWN mistakes:eek:
Hmm, in my world that makes you a loser
The MOST IMPORTANT thing that TE ever learned about trading, was not from his own actions, but, it was from the actions of someone else.
Did it shorten the learning curve for TE, did IT HELL
Next thing, at a guess, is that you will say trading is not gambling, and only those who are unable to trade say so
So you think is isn't wise to learn from your own mistakes?
Interesting.
Must be strange being infallible, perfect & to have such unwavering foresight. You either don't have children or they are in the custody of child services.
No one lives in your world but you so how you perceive me isn't relevant to anyone but you. This is evident but your neurotic disorder of speaking of yourself in the 3rd person.
The person ultimately discovering how to harness nuclear energy didn't accomplish it only after studying the mistakes of others, he did so through is own unique discoveries and validations.
Any action, which includes trading, that begins with the probability of less than a 100% outcome is a form of gambling. You are taking a gamble each night you go to sleep that you will wake up in the morning.
The things you say are not nice PC, thats another mistake for you.
If anyone makes a mistake then, obviously, they should try to learn from it. The wisest course of action though in any endeavour, is to find out what mistakes anyone else has made already and avoid making the same mistakes. If someone takes the view that the way to learn, is to make mistakes, then that is the ultimate mistake - its the actions of a loser.
I was under the impression that TE's use of the 3rd person was because he speaks as part of the TFF group.
Well you could do, but based on the markets I trade, I would expect a retest of the highs and a possible stop hunting spike.
I think to trade it at the level on the first chart would be a 50:50 gamble, I would prefer to have a good reason for thinking that a price will move in a certain direction.
Hope that makes sense.
Quote from Fibbin-Archie:
Well you could do, but based on the markets I trade, I would expect a retest of the highs and a possible stop hunting spike.
I think to trade it at the level on the first chart would be a 50:50 gamble, I would prefer to have a good reason for thinking that a price will move in a certain direction.
Hope that makes sense.
funnily enough, as I left my charts open from earlier, I noticed exactly such a spike on EURUSD and managed to sell at the top (fingers crossed I'm not tempting fate by saying that). I have a 5 point risk and an openISH objective, any kind of pull back into the range will be a nice little earner.
I just happened to log back on by chance exactly as it was happening.
So it's acceptable for TE to revert to name calling, belittling comments and being just plain rude but it's not acceptable for me to make a simple snide remark? Interesting double standard there.
I never said that someone solely had to take the position that the only way to learn, is to make mistakes or from only their own mistakes. That isn't only the actions of a loser that is borderline stupid (not to be confused with ignorant).
It is common sense that learning from one's mistakes is anything BUT a deficient trait. Self validation is how everyone on the face of the earth learns anything. We learn from our individual successes and we learn from our individual failures. We also learn from the mistakes of others, like our parents and what they teach from their learned experiences. We also self validate what we are told by others and are taught as common sense not to blindly trust just anything we are told. If we have any doubt about the validity of any statement . . . verify it for ourselves. This is not some far fetched idea people.
Your impression of TE's use of the 3rd person is incorrect.
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