Markets, stocks etc are for the most part irrational, random, volatile, unpredictable etc.
Many will disagree, but be honest with yourself, can you predict price in 5 minutes, 5 hours, 5 days, weeks....., No!
From one minute to the next, hour or day, we can only guess or calculate a probability.
"It might go up, if it doesn't it will go sideways or down" is our best opinion.
So all these opinions about for example bitcoin, "In ten years a billion dollars".
Or...
"In a short time bitcoin is going to zero because its a ponzi on steroids".
Never mind what currency or market, we don't know what will happen next.
For even experienced traders, 50% of predictions or calls go wrong.
Trader A may decide to go long, and he's right for the first x time period then there's a reversal.
The best we can do is using our own methods or system is place a trade and stop the trade asap on some type of profit and not allowing it to overtake with unreasonable losses.
But then as is frequently the case, as soon as you exit it then reverses again to go in your initial direction.
There are probably scores of profitable systems about which work on your probabilities.
But making a call is futile from the point of view, within seconds of placing a trade it can easily reverse hard and blow that trade up if without taking prompt action to kill it.
What we may call as a trade makes no sense to 99% of the trading population as everyone is using a different gauge for how they trade or timeframe.
Why do some make continual trading calls?
Dunno!
Filling in the day? Ego? Boredom? Trying to prove yourself right?
Take for example a discussion on support and resistance lines.
Frequently price will undershoot or overshoot.
In hindsight it all looks logical.
But traders expect S/R to be honoured which sometimes they do, sometimes they don't.
That's trading! Price looks logical in hindsight but somehow our brains forget that the majority of traders and trades fail.
Somehow the market has this uncanny intelligence, what looks obvious gets immediately sabotaged.
Yeah, trading is a mystery, as soon as we think we have it sussed it morphs.
When it comes to occupation uncertainty, trading must rank near the top.
Many will disagree, but be honest with yourself, can you predict price in 5 minutes, 5 hours, 5 days, weeks....., No!
From one minute to the next, hour or day, we can only guess or calculate a probability.
"It might go up, if it doesn't it will go sideways or down" is our best opinion.
So all these opinions about for example bitcoin, "In ten years a billion dollars".
Or...
"In a short time bitcoin is going to zero because its a ponzi on steroids".
Never mind what currency or market, we don't know what will happen next.
For even experienced traders, 50% of predictions or calls go wrong.
Trader A may decide to go long, and he's right for the first x time period then there's a reversal.
The best we can do is using our own methods or system is place a trade and stop the trade asap on some type of profit and not allowing it to overtake with unreasonable losses.
But then as is frequently the case, as soon as you exit it then reverses again to go in your initial direction.
There are probably scores of profitable systems about which work on your probabilities.
But making a call is futile from the point of view, within seconds of placing a trade it can easily reverse hard and blow that trade up if without taking prompt action to kill it.
What we may call as a trade makes no sense to 99% of the trading population as everyone is using a different gauge for how they trade or timeframe.
Why do some make continual trading calls?
Dunno!
Filling in the day? Ego? Boredom? Trying to prove yourself right?
Take for example a discussion on support and resistance lines.
Frequently price will undershoot or overshoot.
In hindsight it all looks logical.
But traders expect S/R to be honoured which sometimes they do, sometimes they don't.
That's trading! Price looks logical in hindsight but somehow our brains forget that the majority of traders and trades fail.
Somehow the market has this uncanny intelligence, what looks obvious gets immediately sabotaged.
Yeah, trading is a mystery, as soon as we think we have it sussed it morphs.
When it comes to occupation uncertainty, trading must rank near the top.
