In PP 1 I think good things come to light and after 10 20 30 40 years they seem to be part of the foundations. so I think odds are high. I failed to understand PP 2.
There are indeed some universal truths about trading that hold true in all environments... paradoxically, many of these truths are diametrically opposed to eachother... so the game becomes one of introspection, in order to work out which truths you are comfortable at consistently exploiting...
Yes, methods and techonology change, and we adapt to survive. But the one thing that doesn't change is PEOPLE. People are the market, expressing their fear and greed through price action. And people's gut emotions (fear and greed) and their reactions to them, are one thing that I for one plan to continually count on to remain the same.
3dog, That is a great point. I need people to be the same....The same panicky fearful creatures that make the market swing even harder and faster when things go wrong. Bandit
One of my tools: One set up that will work each and everyday is the market is Wyckoff "selling and buying climaxes" Look for the biggest volume bars on the 1 min bar and you will 90% of the time find a top or bottom. Usually around a 3rd Stv bollinger Band. After the lower high or higher low is put in on less volume, the best risk to reward entry lies there. The 21MA will act as some resistance but if taken out, the market will trade higher about 70% of the time. Some call this a 1-2-3 buy/sell or ABC. Call it what you want. It offers the best trades set ups each and every day. This is pure emotion and the market trading off fear and greed. buy the fear and sell the greed. People will never change. This can generally be a 4 to 1 risk/reward ratio. Not Bad.
I notice that too. For about 47 years nothing has changed. I particularly liked the mutual fund types when they came into being. The inane asset allocation stuff has been such a boon to others who trade with TA instead. Money managment types are particularly good as a base of mythical proportions to work off of too. Thank God people will never change their styles. Do you think a lot of them are edge and mechanical types?? I don't know what makes them be so consistent as yet.