Here is another point very worthy of mentioning, even though the direction of forecast may be wrong, timing of range expansion is around the corner for all above charts, so being a trader that follows market direction, rather than personal bias, time is perfect to start looking for entry points. Momentum build up is upon us.
When Indicators Don't Lag
- Thread starter BOC
- Start date
Class A no question. A bit of concern that monthly hasn't turned yet, but I really like the outside bar two weeks ago on the weekly with the divergence coinciding. I'll buy off the daily which is in agreement with weekly and has some fresh upside momentum on Sun night and put my stop at 1.4500. Good suggestion. I hadn't been watching GBP recently. I'll keep the leash a little tighter here since the monthly isn't fully with us yet.
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I am long June gold off the daily already.
I cannot help it that my win rates are high. I already mentioned before that my win rate is at least >80% in any monthly period. It is what it is.
I carefully study every entry to avoid risk as much as possible and to maximize the probability of making profits. If this works it is logical that win rates are high. Most people have low win rates because they are too lazy, or not able to find good entries.
If my statement makes you feel a loser you can always go in therapy. It seems to distress you a lot as you are not able anymore to write a correct sentence. Probably the emotional shock.
Can you not live with the fact that other people might beat you in trading? If that is the case, you should try to put aside your ego.
Your remark that soon I should own everything is complete nonsense. There are people who have other priorities than becoming very rich like you wish, quality of life is for me far more important. Poor people trade only to become rich. If you have some money, money will not be on the top of your priority list. Maybe one day you will reach that point too. Maybe.
A famous trader (forgot his name) was asked one time why he was so successful.
His answer was: If I see money on the ground and I just have to bow to pick it up off the ground, I will do it.
Not trading is also trading. Many people need to be in te market all the time or do at least X trades every day. That's how they lower their rate of succes.
His answer was: If I see money on the ground and I just have to bow to pick it up off the ground, I will do it.
Not trading is also trading. Many people need to be in te market all the time or do at least X trades every day. That's how they lower their rate of succes.
One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. Most people always have to be playing; they always have to be doing something. They can't just sit there and wait for something new to develop. I wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.
-- Jim Rogers