Put it back in context of my post. The “others” in this case, are the “pattern seekers” that took notice of this supposed “support” and “resistance” so they followed because they are predicting that it’ll hold. So it goes to the supposed “support” and they buy, and goes to the supposed “resistance” and they sell, then it goes back to the supposed “support” and they buy, then it goes down lower because there was no more “support” to their surprise. Then the share in there hand loses value, and they experience loss. No one gains from there experiencing of loss in this specific instance. Are you still rambling about zero sum and trying to make a point. I still don’t know what you’re after.
I agree with you on this. However, I wouldn't ignore the Bell curve. Why? Because that's where the 90% are residing. There's a lot of information in a Bell curve if you pull it apart. Crowd mentality - and the crowd is usually wrong.
Some pattern seekers use s/r differently than your description above. They Short support or Buy resistance. Yet, they still name it support and resistance although their approach to trading does not align with the name. Thus, you need to be careful when you hear traders use a name to describe the current or historical state of the price action because their actual trading may not correlate with the name that you've grown to hear what it typically represents. Topic change again - I've seen you ask others to put you on ignore if they didn't like what you had to say. Is there a reason why you do not do the same if/when you do not like what someone else is saying (in reference to padutrader) ? Clearly he ruffles your feathers and a few times your thread here has almost diverge into other topics when responding to others while you where engaging his comments. Simply, the ignore feature works both ways considering you have recommended to others to use it too. I've competed on debate teams in my school years from age 10 to 18 and then a few years in college to learn how to be calm & relax when in disagreement with others (this answers a reference you made earlier about me when you were engaging Overnight). In addition, I've learned how to push peoples buttons or probe them to find out what they're really about. Therefore, don't take it personally or else you'll lose the objective of your thread which is why sometimes you need to "ignore someone" not as a sign of weakness but as a way to maintain your objective. wrbtrader
In the futures market, money is shifted back and forth between traders all day long. There are winners and losers but there's also providers of liquidity like Virtu. But whether it's a zero sum game or not is irrelevant to the day trader for the most part. Do you really care who's on the other side of your trade? No. You only care that you're on the right side of the trade. As for patterns, if you ever put a moving average on a chart, you were looking at a pattern. Patterns may not predict anything but they do provide a sense of where you are in space. The point is no matter how you approach trading, you're always seeking some sort of pattern hoping that it's repeatable. It's probably the biggest reason why the 90% fail - they expect a pattern to be redundant when, in fact, there might be zero evidence that it is.
of course it is irrelevant to the day trader. but if somebody say's everyone loses money, then it is very relevant because if everyone loses. where is that money going.........is it disappearing never to be seen again. so it is possible to make money in day trading...somebody is making money...everyone cannot be losing just because market is random does not mean money cannot be made ...all of us here have been making it.
Ok what is this signal in yearly charts u see ?? is this universally defined ?? is this your own definition ? Every trader has its own way of defining signal. if as per your definition u have signal in yearly charts not in intraday/daily charts then fine. But why deny other peoples definition of signal which might difer from you. why others can't tell you they see signal in intraday chart but u keep telling them u see signal in yearly charts alone. are u hypocrite?? are u in denial ? closed minded for discussion ? one sided ? then why create this thread if u are not gonna even listen to others view point ?