So you're not employing any TA when you look at that pretty chart? I know what you're talking about, and I think the OP understands it too, but basic TA is pretty fundamental to what you're doing. Am I wrong?
I read about the content list and reviews on Buff Pelz Dormeier's book on Amazon. The author seems to have some perceptions about the market similar to those of Jack Hershey, a regular but controversal contributor in ET. I got a feeling that Buff could not convert his perceptions into application and profitability with effective tools and methods. On the other hand, Jack has done an excellent job, from my perspective. However, you have to understand that most people cannot comprehend his writings which is all over the place in ET. It took me years of iterative thinking and practice to gel the pieces together starting off as a frustrating troll, LOL. (Jack, you son of the bitch!) Enough said. Wish you good luck and good health to Jack.
The people telling you to ditch the TA stuff are giving you sound advice. Start off learning how prices really move and you'll be way ahead of all the momos who think the market just rallied because their 21 rsi just did a backflip off the 33.6 fibonacci...
The people telling you to ditch the TA stuff are giving you sound advice. Start by learning how and why prices move and you'll be way ahead of all the momos who think the market just rallied because their 21 rsi just did a backflip off the 33.6 fibonacci
From the pro who's looking to hire a bunch of half-starving guys from the other side of the world to execute his trading strategies.........
Which is the best book on Junk Science or something called t/a ,it works 50 % of the time and fails 50 % of the time. Is It better than tossing a coin? Is it better than trading price action in a ranging market?
IF 90% of traders lose money, I have to ask myself, "Why?" Even if the number is at 80%, I do think far too many (myself included at the beginning) would read a book, memorize a pattern, and try to apply it. It wouldn't work 8 out of 10 times, and confidence is weakened. It's nice to have a reason why something works or doesn't. Oh, I bought the MA cross with Inverted H&S, P&F triple spread top breakout on high volume, close above pivot, and through the 200 ma. Did it work? No. Oh. But sounds nice. Read the books, but remember that you are really stuff that won't work. So when you see a H&S, look to fade it. This will help more often than not. Most money managers spend very little time looking at charts. They run analysis, take long positions, build portfolios, and half the bonds they buy don't even have price patterns like a stock chart.