What happened to the old traders

[wrbtrader]

How can a chart be wrong, when it depicts the price, time, and volume of transactions that happened?. Reality in other words.

1) Its common for data vendors to have errors in their data including transaction errors...many threads here at ET by someone documenting errors in their data. Thus, a chart can be wrong and the user may not know it when trade decisions are made or may not never know the error.

2) Its common for users of the chart to use the chart in a way that it results in bad decisions for one person and good decisions for someone else. Yeah, that contradiction implies its the YOU (the user) that's part of the equation for success or failure. Seriously, hasn't anyone ever made a mistake ?

Just take a look at all the trade journals here at ET. Each person is doing something differently. That in itself implies its YOU that makes the ultimate decision. Heck, even in automation...its still the trader that has to design the program. Thus, the trader is still an important part of the equation even in automation trading.

 

[marketsurfer]

Every time you drive a car or walk across the street, you make not one but a series of predictions. It is the same with trading a chart, you look to see what side is going to lose, and help them achieve their desires. Pretty simple really.

Sure, but the reality is that you are guessing then applying money management to the position. There is no real edge.


This can work- but it also can work without the chart. In other words, your success is despite using the chart And due to the fluctuations and your money management skills.

 

[Frederick Foresight]

2. Charts don't show the future after u enter the trade.

Exactly. That's the purview of crystal balls.

And price drivers.

 

[learner2007]

1. How many moves/ bars or series of moves /bars in one direction increase the odds that the next move or series will be in the same or different direction? If u can't answer this, price charts go into the realm of mysticism.

2. Charts don't show the future after u enter the trade.

The typical misunderstanding of the proper application of analyzing price movement. No wonder you don't get it!

 

[lovethetrade]

since it can't be quantified by any reasonable standard.

1. How many moves/ bars or series of moves /bars in one direction increase the odds that the next move or series will be in the same or different direction? If u can't answer this, price charts go into the realm of mysticism.

2. Charts don't show the future after u enter the trade.

Thanks for this information, I now understand where you're at with this. As intelligent as you clearly are, you're at a very basic level with trading logic which is not unusual at all, there's been plenty of PhDs that never worked it out.

However, your intelligence and ability to communicate effectively and influence others makes you dangerous to traders that might have a future in this game but give up based on the conclusive statements you make.

 

[franT]

Sure, but the reality is that you are guessing then applying money management to the position. There is no real edge.


This can work- but it also can work without the chart. In other words, your success is despite using the chart And due to the fluctuations and your money management skills.

Sure. Bobby Fischer could beat most without looking at the board, but when he played championships he looked. I've seen people that 'have the chart in the head', but why add to the burden?. In any case you seem to be pretty entrenched in your views and ego, and refuse to learn. That's fine. I like the competition that way.

 

[marketsurfer]

Thanks for this information, I now understand where you're at with this. As intelligent as you clearly are, you're at a very basic level with trading logic which is not unusual at all, there's been plenty of PhDs that never worked it out.

However, your intelligence and ability to communicate effectively and influence others makes you dangerous to traders that might have a future in this game but give up based on the conclusive statements you make.

Thank you, that's a great compliment. I'll take u to lunch one of these days.

I am in no way trying to discourage anyone ever! I really like this game and it has allowed me to live life the way I want for many years. Plus has given me much more over time.

my purpose it to get readers to think for themselves as that is the only way to true success. If things work for you, certainly don't listen to me--- go for it!

 

[learner2007]

n any case you seem to be pretty entrenched in your views and ego, and refuse to learn.

Yep, you can lead a man to software but you can't make him click!

 

[Frederick Foresight]

my purpose it to get readers to think for themselves

That's not what you're doing. You're telling them what to think. Or rather, what not to think. Therefore, despite your claims to the contrary, you are trying to do their thinking for them.

 

[marketsurfer]

That's not what you're doing. You're telling them what to think. Or rather, what not to think. Therefore, despite your claims to the contrary, you are trying to do their thinking for them.

Im telling them what the evidence shows. What anyone chooses to think is up to them.