i figured this whole daytrading thing out. charts hypnotise people. candlestick charts will hypnotise you. you are all hypnotised. jack
gg, have you ever spent all day staring at 1 to 5 minute candle stick charts ?? they most definatly hypnotise. i have a strong suspicison that most day trader types and wannbes are hypnotised by the charts. i spent many years staring at charts and i was hypmotised, this is a warning to those who may be hypmotised and not know it yet, some never find out untill it is too late. jack
You may be joking but there's something to what you say. It's an extension of 'Level II hypnotises you" which it most definitely does. Imho level II and hypmotising intradday chart watching plays a bigger role in the failure of daytraders than most would have us believe. Could it be that the we are provided these tools at a bigger price than we think. I firmly believe that watching theses tools too closely takes your eye and your mind away from the big picture. I heed your warning, bring back level 1, all is forgiven.
I think many traders try to look at way too much and suffer from information overload. It's challenging to watch 10 charts each with numerous indicators for example. In the past, I've done some of my most profitable trading without using charts at all, just streaming realtime level I quotes. Hmm...maybe I should scrap my charting software??
Im not hypnotized, I'm not hypnotized, I'm not hypnotized, I'm n................zzzzzzzzzzzzzzzzzzzzz
I don't use charts to find the plays. I only look at them for some quick additional nuances, but those are not that vital. The only things beside that chart itself that I look at are money flow and volume. Works great for me.
LOL haven't you heard aphie the market is only efficient to us dummies. to high IQ MBA types it's a slot machine with all triple cherries