Technical analysis

[marketsurfer]

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?

Because 99% of them are broke dreamers who worship a fatally flawed idea. Sad but true. surf

 

[romik]

And in 2-3 days he will come out and proclaim that indeed price rose right after he posted the chart.

You seem to be incapable of basic comprehension, I certainly don't do what you said above. See my previous post regarding selling resistance and buying support. Not everything in life has to be coded to have validity.

 

[marketsurfer]

I get into a trade if I like what I see. Evaluate potential range, control risk, aim to buy low and sell high.

Why not just enter randomly based on your bias for the day? Then apply the rest of your post-- the results will be identical without the use of TA to pick entry points. surf

 

[romik]

Because 99% of them are broke dreamers who worship a fatally flawed idea. Sad but true. surf

And some of us disregard money management, wipe out clients' capital and don't even answer the phone when they ring them. Pathetic!

 

[marketsurfer]

And some of us disregard money management, wipe out clients' capital and don't even answer the phone when they ring them. Pathetic!

It happens, man. I am far from perfect and have made massive errors in the past. All you can hope for is to learn and move on-- but first you need to move away from home and/or your sucky job to understand what I am talking about.

This is no way to win friends and influence people-- why don't you reveal who you are-- afraid, i bet.

surf

 

[romik]

It happens, man. I am far from perfect and have made massive errors in the past. All you can hope for is to learn and move on.

This is no way to win friends and influence people-- why don't you reveal who you are-- afraid, i bet.

surf

What is the benefit of that? You shop for clients here, I don't. No gain amigo.

 

[romik]

Regarding yachts & Ferraris. Most retail TA guys trade their own capital, prudent money management prevents a trader from making huge returns percentage wise, unless returns are compounded. Now pro traders also do not make huge returns (% of managed capital), it's just that they live on commissions generated from investment capital uncomparable to an average retail account.

Secondly, it is childish to suggest retail technical traders do not have a luxury car or a yacht. It's like saying all pro traders have penis enlargement surgery. Assumptions.

 

[romik]

What I do find remarkable is how a poster that worked in pro trading industry for a long time isn't aware that traders don't buy resistance, but sell it. That is truly astonishing.

 

[romik]

View attachment 158473

My experience tells me more downside tomorrow. Traders sell resistance and buy support.

 

[dartmus]

What I do find remarkable is how a poster that worked in pro trading industry for a long time isn't aware that traders don't buy resistance, but sell it. That is truly astonishing.

So many traders repeating the same old tired words they've heard others say without ever thinking about what they mean. Words often seem deliberately confusing and difficult to understand without renaming them.