Price TA... Trade What You See!

Darc said:
FFS

What Scat posts is right.

And the more he Posts it, the more right it becomes because more people use it.
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Not sure if you're joking or not, but anyone with half a brain and actual trading experience with indices would know that Scat is not making any (substantial) money with his KISS TA which requires zero skills (his words).

Even the charts he's posting with cherry picked examples after the fact are full of false signals using the same methodology. Just like any other textbook author.

These threads of his is a waste of time and a disservice to any newbie coming on to this site.

I tried being polite, but since he won't even answer some basic questions, I figured I'd take my gloves off.
 
Laissez Faire said:
Not sure if you're joking or not, but anyone with half a brain and actual trading experience with indices would know that Scat is not making any (substantial) money with his KISS TA which requires zero skills (his words).

Even the charts he's posting with cherry picked examples after the fact are full of false signals using the same methodology. Just like any other textbook author.

These threads of his is a waste of time and a disservice to any newbie coming on to this site.

I tried being polite, but since he won't even answer some basic questions, I figured I'd take my gloves off.
More...


That's why I commented on the way he day-trade looked like a professional writer's.

I don't have lines on my charts.
Perhaps the lines work for him.
Anyway, different traders trade differently.
To each his own.
 
Laissez Faire said:
Not sure if you're joking or not, but anyone with half a brain and actual trading experience with indices would know that Scat is not making any (substantial) money with his KISS TA which requires zero skills (his words).

Even the charts he's posting with cherry picked examples after the fact are full of false signals using the same methodology. Just like any other textbook author.

These threads of his is a waste of time and a disservice to any newbie coming on to this site.

I tried being polite, but since he won't even answer some basic questions, I figured I'd take my gloves off.
More...
You're saying buying at Support, selling at Resistance, TrendLines, Channels don't work. Next you'll say MAs don't work.

OK.
 
Darc said:
You're saying buying at Support, selling at Resistance, TrendLines, Channels don't work.
More...
They improve your win rate if you already have a good edge.
Just trading S/R and TrendLines is like catching a falling knife.
 
Darc said:
You're saying buying at Support, selling at Resistance, TrendLines, Channels don't work. Next you'll say MAs don't work.

OK.
More...

Price just hit so called resistance here on ES. Do you buy or do you sell?

This is KISS TA and requires zero skill.

upload_2023-10-6_12-23-6.png
 
Ok, let's say you sold resistance. You're now 5 points in the hole. What the hell do you do?

Is it a real breakout such that you should 'chase the breakout' instead as Scat would say? Or is it a false breakout such that you should hold your short or initiate a new short if you're stopped?

If you chase the breakout here, you may easily end up in the hole on the retrace.

Commonly, what price will do is to retrace the breakout. Not always, but commonly. That retrace can be shallow or it can be deep. The retrace can also turn into a full reversal for another big move lower.

During that process any KISS TA method requiring zero skills will get chopped to pieces.

upload_2023-10-6_12-33-46.png
 
So, you got stopped out on your initial short of resistance. You 'chased the breakout' and now you're in the hole on that one, too. Time to scratch it for a loss. Assuming 5 point stops you now need 10 points (!) just to breakeven.

So, is this a retrace or was it an actual breakout that's now just retracing/testing the breakout point?

Lots of possibilities here.

But let's just stick with KISS TA requiring zero skills and let's all get chopped to pieces... :)

upload_2023-10-6_12-52-15.png
 
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