If you want to fail as a trader, study TA
- Thread starter The Expert
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Oldareg, do you trade NRB breakouts then? On which markets and what time frames do you use? Also, what does PE stand for? I assume it's not Price/Earnings Ratio...
Interesting , Ive never really thought about s/r lines that much in depth. On a side note, I dont see any of those numbers as s/r. Did I miss something? I'm with you on the RR, apprx 50 cent profit, cost of business. These 3 questions I do not have an answer to other than a guess.
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How do we look and come up with different numbers to most?
--Choose the most obvious lines on the most used timeframe--
Who else is looking at the numbers we are looking at?
--Level 2 watching?--
How do we confirm that they are looking at those numbers?
--A hard rejection or breakout of that line--
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How do we look and come up with different numbers to most?
--Choose the most obvious lines on the most used timeframe--
Who else is looking at the numbers we are looking at?
--Level 2 watching?--
How do we confirm that they are looking at those numbers?
--A hard rejection or breakout of that line--
Quote from The Expert:
XX, as you know, there are many ways to look at a chart and see potential low risk trade opps.
I had a look at CEPH and this is what I saw.
55.00<56.20<56.60<57.30<57.40<57.80<58.39>58.60>59.10>59.50>59.70>60.20>60.70
What are our triggers for Long and Short, and what are our targets for covering?
Is the R:R sufficient to spend our time trading this stock?
Are we going to get at least 50 cent profit on the trade?
If we lose, how much will it cost us to find out we have just added one more loser to our list?
If we win, how much should we be looking to make so that the losers on our list are of no real worry to us?
Are we looking at the same thing that everyone else is looking at?
Do we really want to look at what everyone else sees?
How do we look and come up with different numbers to most?
Who else is looking at the numbers we are looking at?
How do we confirm that they are looking at those numbers?
There is a lot MORE to S&R lines than meets the eye
TE
Quote from The Expert:
Well, PC, if you really want to know what I think about your posts, how about this...
FUK OFF YOU DUMB ASS TRADER
You are nothing but a shithead, and, you actually think you know something about trading, just because you post a few stupid fukin posts
Now, if you want to stay here and be enlightened, then I suggest you clean all the wax out your ears, right away, as it is OBVIOUS that some of it has seeped into your dumb ass trader brain
Fukin dim wit you are, really
No one here needs YOU, or the likes of that other shithead psyco, to save them from the likes of TE, for, all they need do is read, think, and then decide what makes sense and what does not.
As we keep saying, the world is full of idiots, really
Now, for the last time, FUK OFF
Those that must digress to foul mouthed gutter language in a discussion have already fallen to the bottom of the intelligence pool and have eternally lost any argument they step into.
I've forgotten more of the intricacies of price action than you have experienced but please continue to post your colorful language and openly display your substandard IQ.
Quote from The Expert:
Who gives a FUK what anyone thinks
Survival of the fittest, remember
Fuk all the idiots out there, for, the only person who will make GOOD money for YOU is YOURSELF, so, get YOUR FUKIN THICK head out of the FUKIN SAND and start LOOKING at what YOU MUST DO, and not what most of the useless FUKIN IDIOTS are doing
TE
Even the autistic comes up with a cognitive statement once in a while.
Quote from Mysteron:
Phew, its hot here in the UK, and my noisy bastrad neighbours have pissed me off big time
Quite a tirade against education there TE. I studied mathematics at university and I've always been fond of that subject, as there is no room for personal opinion or debate, things are aither true, false or not yet known. It served its purpose, of basic survival, to get me a job, in a very large engineering company, which many would regard as a very good job TBH. I've had to study and use other subjects along the way too, control systems is one, which has provided me with some insights into certain aspects of human behaviour and what is often the fallacy of free will. So maybe after all that I've just been trained to be biased and to think like the crowd. Then again, when I decided to study TA thinking it would help me to become a successful trader, I realised after very little thought that GANN was a just wishful thinker, spouting pseudo scientific crap, which bizarrely seems to have been readily accepted by many, and still does. I'm truly amazed at the nonsense he produced. Some aspects of education are an exploration to see whats there, just out of curiosity, and thats what I like, and I wish I had more time to follow my interests. The part of education which is really just programming an indivdiual to fit in, is what I don't like.
95% of TA is worthless to trading in my opinion.
But learning the mathematical/logical skills of problem solving is priceless in trading.
You nailed it when you said, "things are either true, false or not yet known". And by self testing and self validation the "not yet known" part can become "known".
IMO both; man because they don't wish to use their brains and are only looking for an easy way to consistency. They think TA, in itself will give them an edge, which is false.
And tools because people will grab anything and try to force fit it into every situation. You can't use a screwdriver to pound a nail into concrete.
One has to begin at the beginning, "the product" and take the transition of price, one step at a time to fully understand the ongoing flow.
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