Quote from makosgu:
Eek... Predicting is NOT POSSIBLE. You realize that a prediction is like a forecast. Weathermen predict tommorrows forecast. I just look out the window at what's happening right now. When I look out the window and see that it is raining, I make the statement "It is raining". That statement can be verified that it is "ACCURATE" since anyone else can look out their window and see what is happening. When it rains, I head out with the appropriate equipment. When it's sunny, I head out with different equipment. When it's cold, I wear different equipment, etc...
Here you make an interesting phrase which I had to pull out of context. Establishing "what the market won't do" is VERY POWERFUL. Why? Because you have then eliminated a possibility. In other words, you are monitoring a smaller set of possibilities. Somehow, you still miss the point that the precision of a market turn is IRRELEVANT.
Again, the difference between reading and predicting is simple. The predicting thingy is curious about what is happening this evening, tommorrow, this weekend, etc... We all know that forecasters are prone to errors. How often did a forecast fail to be accurate? How many times did your eyes fail to accurately read what was happening outside right now.
Well then, that should clue in traders that if they were just prepared for what's happening now, then their consistency would increase. Who cares what's happening tommorrow if what's happening now will be very different from tommorrow...
MAK!