Surf's Special Situation Journal
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Quote from cornix:
Isn't price action always erratic and unpredictable?
I recently witnessed some uncanny accurate price action trading in real time---- I am perplexed but very open to learn more. surf
But you are not an expert in price action trading. How would you know?
are you having an epiphany?
The wins far exceeded the losses and it appeared to be outside of random chance.
Not sure if its a gifted/talented trader or if its replicatable yet.
If it turns out to be replicatable. I always thought there might be a few savants around.
you're missing the point of trading successfully using price action / TA...it's not about winning far in excess of losing...it's about having the SIZE of those winners far in excess of the size of the losers AND having a decent win rate around 50% (obviously the higher the win rate the better but it's probably not realistic over the long term)....
Surf your above quote is rank amateurish...you're better than that
So basically you're saying that your belief system about TA will only change if you find evidence of someone with an abnormally high win rate
....that practically has nothing to do with making money consistentlyQuote from HurricaneUS:
you're missing the point of trading successfully using price action / TA...it's not about winning far in excess of losing...it's about having the SIZE of those winners far in excess of the size of the losers AND having a decent win rate around 50% (obviously the higher the win rate the better but it's probably not realistic over the long term)....
Surf your above quote is rank amateurish...you're better than that
So basically you're saying that your belief system about TA will only change if you find evidence of someone with an abnormally high win rate
Au contraire, my friend. Basically you are saying all you need are random entries and strong money management? I am just representing what I witnessed-- high win rate outside of random chance.
You most definitely need strong money management and I could probably make money with random entries...I never seriously investigated random entries (I know...you think PA are random entries) but if I found a random entry system that worked do you think I would trade it?
Does a bear shit in the woods.
I'm not beholden to neither TA nor fundamental based analysis...whatever works I'm fine with it.
But you must understand that statistics can only take you so far with trading and at some point you have to know when to use and know when to step back from Evidence-Based Technical Analysis if you're seeing repeatable market patterns day after day..into the thousands...that play out as you expected resulting in an increase in your bank account...an account increasing over time is more important than whether some statistical analysis has indicated that I don't have enough evidence to reject a null hypothesis
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