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Technical analysis
- Thread starter Josh Stefaniak
- Start date
You could not be more wrong. I never held a IT related position. Each single piece of technical skill set is self taught. And re trading you are also entirely wrong. Think what you like I just set the record straight.
I haven't seen any indications volpunter is a trader. It's my impression he's worked in the trading industry as a very high paid and highly skilled hardware and software guru. IMO he's very capable in those areas but I can't imagine him as being a successful trader. Too many contradictions.
Hopefully he will correct any errors and then we'll know the truth.
Most pro traders are very arrogant people, especially towards retail traders. Not surprised at his attitude.
I find that those who started on the floor or prop are arrogant but those who started retail are not. Very much like having lunch with either the Hiltons or Howard Schultz, most have no clue who Howard is. Schultz grew up poor in Brooklyn, first one in his family to graduate high school. He traveled to Seattle and he was selling Hammarplast Swedish drip coffeemakers to then Starbucks, he joined them, but quit at some point to start his own coffee bar and year later bought Starbucks for 3.8 million year after and became CEO and now a billionaire, hard work and smart work pays.
You could not be more wrong. I never held a IT related position. Each single piece of technical skill set is self taught. And re trading you are also entirely wrong. Think what you like I just set the record straight.
Thanks for clarifying that.
Yes, it will either break to the upside or downside.
At no level an outcome can be guaranteed, probability is never 100% no matter how you calculate it, future remains an unknown factor. You've been in the industry for that amount of time you should be aware that selling resistance and buying support is what traders do. That's the reason why there are double tops/bottoms.
So what probabilities do you attach to it going down from here ?
At no level an outcome can be guaranteed, probability is never 100% no matter how you calculate it, future remains an unknown factor. You've been in the industry for that amount of time you should be aware that selling resistance and buying support is what traders do. That's the reason why there are double tops/bottoms.
So what probabilities do you attach to it going down from here ?
I get into a trade if I like what I see. Evaluate potential range, control risk, aim to buy low and sell high.
At no level an outcome can be guaranteed, probability is never 100% no matter how you calculate it, future remains an unknown factor. You've been in the industry for that amount of time you should be aware that selling resistance and buying support is what traders do. That's the reason why there are double tops/bottoms.
Day traders only buy low and sell high consistently in retrospect...how many can predict support and resistance with a high enough probability? And why aren't they trading from yachts in tax-free nations?
So again no definitive answer.
I get into a trade if I like what I see. Evaluate potential range, control risk, aim to buy low and sell high.
Because they do not even understand the concept of probabilities in this business. If any of them ever tested their strategy ideas and exposed them to rigorous testing rather than hindsight they would notice that their entries and exits are over time producing random outcomes which end up net negative after costs of execution are factored in. Look at Romik...he cannot even attach probabilities to the chart setup he himself posted here. And in 2-3 days he will come out and proclaim that indeed price rose right after he posted the chart. And he will say exactly the same if prices traded down. But hey at least he is not posing danger to anyone after all I believe even beginners see through his shady methods and approaches. There are way sneakier and trickier snake oil salesmen out there. We should actually be thankful for liquidity providers like him who fork over their hard earned money month after month. Only God knows how many times he had to reload his accounts. It just bleeds to imagine unassuming beginners who gamble away their savings on TA approaches for lack of better knowledge or good mentors. But then maybe everyone deserves the consequences of their actions. At least my investors would fire me straight away if I ever explained a loss (and even gains) with funny chart patterns and lines that look like my kids had an awesome day in kindergarten.
Day traders only buy low and sell high consistently in retrospect...how many can predict support and resistance with a high enough probability? And why aren't they trading from yachts in tax-free nations?
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