I especially like his ability to realize when he is wrong and exit right away and double up in the opposite direction. He showed a very good chart a while back where he had to do this twice in that even his doubled up position was in fact wrong and he did it again in order to get back on the correct side.
Prove to me that Technical Analysis Works.
- Thread starter TazTheLaz
- Start date
I especially like his ability to realize when he is wrong and exit right away and double up in the opposite direction. He showed a very good chart a while back where he had to do this twice in that even his doubled up position was in fact wrong and he did it again in order to get back on the correct side.
Why would any successful trader want to go to the expense of having a professional auditor provide a report to an anonymous on line person just to prove they are a successful trader? Does that make any sense? Just curious as what would qualify as a "sanitized account statement". Does the statement have to be sprayed with Clorox before it is posted?
So the answer is no. You could've avoided the snark and just admitted you're a fan girl but have zero proof.
BTW, "sanitized" means you take out personal info like name, address, account number, etc. It's 101 stuff but I realize very few here are elite at trading or anything else.
Yeah, that works amazingly well until it doesn't. Martin meet Gale...
Just go to C2 and look at the top systems. Trust me I am not trading on anything but TA. My system was previously at #1 for over a year. All trades are listed each day every month which is why I had to declare to the IRS the money I made from subscribers alone. The money they paid me to trade for them using TA.
Those were terrible and suicide trades.
It was blindly gambling, not trading.
If you trade forex, you can often go opposite when you exit .
But if you trade ES, you absolutely need to avoid to trade the opposite after you stop out. Because ES trend does not reverse immediately, it can go seesaw after a trend end.And after seesaw it is also more likely to go with previous trend. When I trade ES, I only trade with the major trend. Never never trade the opposite direction against major trend. What is major trend? If you trade intraday, check the daily chart, the trend shown on daily chart is major trend.For example, if you daytrade ES on next trading day(Tuesday?), only go long and if you stop out, wait for next long opportunity.
Also, make sure your probability is higher than 85% before you enter the trade.
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You misunderstood. He isn't blindly adding to a losing position. Once he sees he is on the wrong side he will immediately reverse direction and double the size so that way it only has to move half the amount in order to be back into profit. I think we as traders have all seen this. A position is going against us and we keep hoping and praying for it to turn around. Maybe we add lower down for longs since this will improve our average price but in the back of her head we know that the selling doesn't look good. Imagine for a second if you had the balls to realize you're wrong and immediately change direction and hence get into the trend.
There were some posters who said that on Thursday and Friday they kept shorting the market. And yet it just kept on rallying. Imagine if seeing this they had the balls to reverse their position and increase their size. It would clearly have covered any losses and made profits.
Your understanding my post was wrong. I never said he was adding the losing position. Read my post again.
I replied to MKtrader who specifically said martingale. Perhaps you can't see his posts?