There aren't
- Thread starter smaranam
- Start date
Rumor has it, that alpha generation is strongly correlated to background color.
Edit: And planetary alignment.
I selected a chart BG which matches my skin tone.
Forget about the colors,all you need is to memorize the things that never change.
Because "somebody has to take your trade". That is, somebody has to be equally convinced that you are WRONG.
If there were ANY 100% or near 100% decisions, everybody would jump on those but there would be nobody else on the other side. (You don't buy/sell into a vacuum, you know.)
You need to understand why you think your play is "probably correct", then use a stop to protect your capital when wrong. TA is the art of deducing that which is "probably correct right now".
The "big boys" will admit that their winning percentage is "52-55%" or less... that's about all you can reasonably expect to achieve. (Don't believe those who brag about 90% winners... if there were such a thing, eventually everybody would know about them and would refuse to take the other side = "no trade".)
In the marketplace, there has to be both a buyer and seller at each price... otherwise, "no trade". When you buy, you're doing so from somebody who is equally convinced that selling is the correct play. One of you is wrong, of course, but you won't know which until it's too late to make the correct play.
You MAY be right, and you May be wrong.
I don't have infinite data "over the long haul " to prove otherwise.
Another thing, way too much importance is placed on entry only. That's not what creates the so called "edge" as people like to call it. Its a combo of everything in your plan working together.
May depend on the kind of other side you're looking for, & how hard you look.