I don't find this to be true. It's recognizing hidden areas of S/R that seperates the best traders from mediocre ones. Non-conventional wisdom will put you ahead of the crowd.
I find this to not to be true, our brains are not a Roulette wheel unless you on some type of drugs, brains are trained by itself and always looking for patterns. For what you believe are hidden, other have identified them and they are just waiting for them to develop. For every single pattern there is, I have well defined rules. When you have a "Pivot high", how many rules do you have for it to be a Pivot High? And if you can't have well defined instructions on a Pivot high-you can't program it.
There is profitable traders which I am glad is much smaller amount to losing trading which is huge amount. Think is terms of general population of being sheep, they follow each other, bell rings and like hundreds of times before they walk to ringing bell to get feed, just like so many traders who read books or even worse youtube and think that is how it is done, it is not. Books and youtubes have an end, they didn't add the extra chapters to show how to profit, if most authors knew how to trade, they would not be writing books or wasting time doing youtubes.
Profitable traders just gone beyond and always have an open mind, whatever general population of traders think is dumb way to do something or it too small amount to trade or staying in a position for years or seconds, they mostly likely always be sheep. People bitch about HFT or automation traders, Scalpers or program trading or arbing, remember these are adding to liquidity to markets and they are providing most of the volume to the markets, small traders are small and will stay small with their small thinking.
When I started trading I wiped out dozen of small accounts, I learned how to program, tossed almost all the books into storage, kept S/R and pattern books, then backtest my weekends away. I learned from my profitable trades the most, don't care much about losing trades, time is one of many "edges", and learn to risk as close to free as possible, learn to enjoy many plus one tick trades. Growing up American is not to make the most you can on each trade, it is to make money each day or close to it even if it is just five bucks. You fight to get to breakeven, a day is like hourglass, if in the hole in morning, half day goes by and you come back to even, stop and pat yourself on the back, you concentrate on your capital, this is a business.
