Everybody who says indicators, or technical analysis, and/or whatever else in trading fails...are strangely coincidentally the same bonehead/meathead people...who just happen to be failing themselves, or are just not simply profitable, or fruitfully profitable in this endeavor.
Trading is an incredibly complex, dynamic...organism, or puzzle game, or chess game, or war.
If you are a flat, fixed brain person...chances are you won't enjoy or succeed in the long, overall run of trading.
We're all just basically predicting the future of the broad market, SPY/SPX/ES.
So Right Bone Head your`ve now got some education In. As for your further comment as to turning over a few Million by Daily Accumulation through Options Trading - My comment will be applied to as - Are you Sure on the matter - Or did your spec`s get steamed up somewhere a long the line here that effected your vision for reality.
Video , why do indicator based systems fail.
- Thread starter Murray Ruggiero
- Start date
I banked nothing. I'm a paper trader. I work at Starbucks and Home Depot part-time while I'm studying at an online college for my Real Estate Degree with a minor in children's sociology and live with my parents.
But in my paper trading account...I turned $10,000 into 97 million. and this is my crowning achievement in life.
I blew up my previous $5,000 trading account three times already. -- But this time, it's different...I have an Edge,
And this Edge...will Shock The World,
I call my edge, Razzle Dazzle Nuclear Bomb Universe options compounding daily.
King KONG....Ain't GOT Nothing on Me.
I buy my boxed wine from Walmart.
I plan to write a book, titled: Make Trading and Your Life Great Again.
and I plan to launch my own trading school, called: Lawrence Trading.
and I plan to lose my virginity in 2018. even if i have to pay for it.
as soon as I get rich from trading...I'll buy a Ferrari 458. and a Patek Philippe Tourbillon watch. and a very high-end $20K espresso machine. and $2,600 alligator boots.
I just took a big dump and fresh shower. and gave myself a haircut and shaved my body and brushed my teeth.
and scraped about 7lbs of my beagle's dog shit off of my backyard.
But my life is looking up...because I found Moses and Jesus and etc misc spiritual things.
Mazal tov,...High-Five`
I wish I had a girlfriend and life, instead of spending all of my time on ET, with these losers who are only making 5% every year.
I absolutely love this.
Yes, he is the average ET poster...
I've stated many times....
"Buy support
Sell Resistance
Chase Breakouts
Use Stops".
Get a handle on that and you're ahead of 99% of traders.
This is not magical or the holy grail... it's "Chapter 1" of "TA 101". Unfortunately new traders are in too much of a hurry to get past Chapter 1 and get onto "the good stuff".
Indicators are not necessary. They don't "make" trades, but can often be "reinforcing". (Example... "I'm looking at a possible bottom, and the RSI is low in its range.") %R, CCI, Stochastic, RSI.... are all range indicators. Look into them if curious. Popular as it is, I don't care for MACD. It's a 2nd derivative price and waaayyyy too slow.
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Thanks for sharing again. I finally have time to learn and i value others opinions. As for indicators, i had swore off of them, but recently am using Full Stochastics with settings of 3,5,2. I also keep a 50 SMA on.
Can you please recommend me an indicator for the small timeframe intraday chart for catching trend reversals when price touch some support or resistance? I was thinking RSI.
Hello, how do you identify support and resistance? During the day there are many support and resistances?
Lmmfao hahahahahahahahahahahahahahaha hahahahahahahaha you are funny man. Lol hahahahahahahaYou gotta be a unique, philosophical...yet tactical, trader, to succeed with trading.
Way too many lost souls approach trading thinking all you need is a fixed, Holy Grail system/formula to make you rich--->
,
and i'm not just full of theory talk stuff. I'm 95%-99% confident my % returns beats everyone's here at ET.
Just simply saying, without trying to sound too arrogant or cocky.
It's lunch time in the West Coast US right now...I feel like eating a nice medium-rare porterhouse steak in a restaurant.
I could easily afford it, with my profits for today. -- I might even buy another one for my beagle.
2018...all the best, ET extraterrestrial traders,
Best educational posts on the site are under Scat Man's old posts as "gnome". Read them all and take notes.
He's talked about chapter one a few times:
"Chapter 1
1. Pay attention. (You'd be surprised at how often THIS is a problem.)
2. Trade the charts. Look for correlations of market behavior where the risk is low and profit potential is high... at least 2:1 R/R, in your mind.
3. Be properly courageous.
4. Have stop discipline and NEVER abandon it. Markets are tricky. Stops are your best defense.
That should do for a primer..."