can we talk about traps in the charts that noobs fall for?

Discussion in 'Technical Analysis' started by mute9003, Dec 28, 2022.

  1. MACD

    MACD

    Yes, again @easymon1 Provided an excellent source to solve your issue with chart reading.
     
    #11     Dec 28, 2022
    Sekiyo likes this.
  2. Bad_Badness

    Bad_Badness

    Confirmation bias. You see something and go and look for where it works. BUT what you should be doing is spending 80% of the time looking for when it does NOT work. When you cannot find it not working after using a STRICT rule based description, then it has just passed filter 1 of 10.

    Knowing when it does not work is more valuable than knowing when it does work.
     
    #12     Dec 28, 2022
    zdreg and SunTrader like this.
  3. SunTrader

    SunTrader

    100% agree.

    Majority lose, majority look for confirmation not rejection. Yet they don't understand why lose so often.

    Pattern failures are some of the best trades.
     
    #13     Dec 28, 2022
  4. schizo

    schizo

    Noobs usually set up traps for themselves. :)

    Going back to the OPs assertion, 3 strikeouts usually apply to TA as well. Anything more than 3 touches should be seen with suspicion.
     
    #14     Dec 28, 2022
  5. Buy1Sell2

    Buy1Sell2

    noobs are the ones setting the traps.
     
    #15     Dec 29, 2022
    HawaiianIceberg likes this.
  6. zdreg

    zdreg

    Personal responsibility is an anachronistic idea in woke America. It is easy to blame HFT traders or market makers or PFOF .Think male millennials still living in their parents' basement and girl friends picking up the dinner tab.
     
    Last edited: Dec 29, 2022
    #16     Dec 29, 2022
    Buy1Sell2 likes this.
  7. zdreg

    zdreg

    or much worse is Cuomo (D) former governor of NY not owning up for the deaths of hundreds if not thousands of elderly people from the virus in nursing homes. There is no comparison between a POS and a murderer.
     
    #17     Dec 29, 2022
  8. SunTrader

    SunTrader

    I deleted my post. Suggest you do the same to keep topic on point.

    Too late for your "woke" one.
     
    #18     Dec 29, 2022
  9. zdreg

    zdreg

    "if you can't take the heat stay out of the kitchen." Take responsibility for creating the screwup.
     
    #19     Dec 29, 2022
  10. SunTrader

    SunTrader

    Me lol?
     
    #20     Dec 29, 2022