TA - Objective or Psychological Skill?
- Thread starter cornix
- Start date
=================Quote from cornix:
So let's discuss it.
Mr Cornix;
TA is the study of price + volume;
so everyone uses it-unless someone uses market orders + never studies the price he gets filled at or exits .LOL
Wisdom is profitable to direct
Quote from cornix:
Do you realize that ideally exiting on price is the same as entering on price?
No, this is not correct. Exiting is after a profit or loss -- so the outcome is known. The outcome is unknown on the entry. Where do you get these ideas? They are highly unusual.
I never think about woulda coulda shoulda. If you do, it will drive you crazy.
Surf,
Here's a small test: you are welcome to take my published entries and apply the following simple rules to them: 10 tick stop-loss, 12 tick profit target. Nothing else.
You will be surprised that this 1:1 risk reward (1:1 due to commissions) would still produce profit and win rate would swing toward above 50%.
Obviously with random entries with 1:1 risk reward would be impossible to achieve even gross profit, let alone overcome the costs of trading, right?
I use different money management not because it's the only way to profit, but cause it produces fatter bottom line despite lower win rate in the long-term.
Here's a small test: you are welcome to take my published entries and apply the following simple rules to them: 10 tick stop-loss, 12 tick profit target. Nothing else.
You will be surprised that this 1:1 risk reward (1:1 due to commissions) would still produce profit and win rate would swing toward above 50%.
Obviously with random entries with 1:1 risk reward would be impossible to achieve even gross profit, let alone overcome the costs of trading, right?
I use different money management not because it's the only way to profit, but cause it produces fatter bottom line despite lower win rate in the long-term.