Prove to me that Technical Analysis Works.

[Sprout]

Hello easymon1,

There is no magic to it. I stare at the chart for 1 hour per day and take a good guess(s) to buy long or short, and exit per my rule. Repeat the next day.

Yes it is simple, I know. It fits my core belief trading theory.

What is your core belief trading theory?

How have you come to arrive at it?

What are you measuring to determine the validity (or invalidation) of your theory?

 

[SimpleMeLike]

What is your core belief trading theory? My core beliefs are:

1. If I want a fair chance of making a lot of money eventually or at time(t) trade with the current direction of price in real time.

How have you come to arrive at it?

2. Everything else I studied was too complicated.

What are you measuring to determine the validity (or invalidation) of your theory?
3. The theory is valid if I triple my SIM account.

Hello Sprout,

Great questions you asked. I respond.

Please respond if questions or comments.

 

[SimpleMeLike]

How many trades did you make today? Are you using a good simulator that buys the asking price and sells to the bid on market orders so that you are getting realistic results?

Hello Illini Trader,

Great questions. Please let me know if you have further questions

Started at 8:30am at $1000, after about 30 trades I guess, up at $879. I use real time SIM account and paid market data.

Thank you

 

[SimpleMeLike]

Having a "core belief trading theory" and staring at the chart "and take a good guess" seems totally contradictory. How can you reconcile these two opposites?

Hello Illini Trader,

Great question you asked.

I do not have an answer to your questions and I do not understand your question. Can you please simplify?

Thank you,

 

[SimpleMeLike]

That dude is just gambling trading -- As-is Most people, traders, are,
He's lucky to be at break-even, and not at a noticeable loss. Which is the inevitable direction he is heading,

Everyone who enters the casino technically gambles. But the best ....gamblers...in the world understand the game, and its variables and elements, and how they approach, understand, expect and tackle the market game,

A trader can't just devote an hour or two to this game. They have to watch it completely from market open to market close. And be prepared to place those trades when the opportunity and signs lines up with your assumptions and hypothesis,
Trading for just an hour or two can leave a ton of money on the table, and force you to compress everything, and implode your brain and account,

Hello MacBookProHo,

You are right. @MacBookProHo nailed it. I am simply guessing/gambling take my best shot day to day.

This is my trading approach: Starring and take my best guess.

Thank you for clarifying that for me.

@Sprout this is what I am doing here.

 

[easymon1]

Hello Illini Trader,

Great questions. Please let me know if you have further questions

Started at 8:30am at $1000, after about 30 trades I guess, up at $879. I use real time SIM account and paid market data.

Thank you

View attachment 292146

Now that ain't workin' that's the way you do it
Get your money for tradin' and your chicks for free

 

[SimpleMeLike]

A trader can't just devote an hour or two to this game.

Hello MacBookProHo,

A trader can play this game however he or she wants to play this game and devote 5 minutes if he or she wants too. The objective is to reach +$X,XXX,XXX playing this game right? It is the best game in the world, if the mind is open.

 

[SimpleMeLike]

Now that ain't workin' that's the way you do it
Get your money for tradin' and your chicks for free

Hello easymon1,

You got that right buddy. Gotta try and make as much money as you can while you can.

 

[MacBookProHo]

Started at 8:30am at $1000, after about 30 trades I guess,
View attachment 292146

How do you place 30 trades in one hour amount of time?

Ideally, a trader should place One trade. Buy around 9:47....and sell around 1:00
Understand why this happens, digest it daily, ...and you will be a millionaire,

Be a Big Game hunter, not a mouse or squirrel hunter -- have the mindset, understanding and perspective of a Big Game hunter,

 

[Sprout]

Hello Sprout,

Great questions you asked. I respond.

Please respond if questions or comments.

Do you have your invalidation located in time?

If you recognize that you are guessing and gambling with no method or measure by which to track results independent of a sim pnl, what makes you feel that you can beat the odds of the house?