Wrong. TA can be very objective. Which doesn't mean every trader uses the same TA signals, because there is a variety of time frames and possible points of entry/exit depending on what kind of action trader prefers to exploit.
To be honest... I care less about the show component of this thread. Consistently break-even, losing or winning... time will show. One thing for sure: it's not something that usually impresses trading theoreticians which are prevalent on ET. And not going to be, ever.
Here you speak as a real trader, Surf. Finally I would like to say! Happened to catch 20+ handle runs, happened to catch 7-8 smaller winners in a row being called live. All the same method. To be profitable it requires just... not losing much and eventually making something. As for slow performing dull periods... who cares?
Correct, so far it's basically break-even after commissions. But there are different methods with different definitions of consistency. This method is very profitable over the year so far, not profitable since the start of the journal, yes. Oh well...
I'm no expert, but I get the feeling that the current market conditions aren't favourable for Cornix's method, however, he's still keeping his head above water. It's not as though he's hemorrhaging money. He's around break-even. I think that when the conditions change, he'll probably start killing the market. I guess if you can break even when the market isn't playing ball, then you're doing OK.
Yea it works like that. Every strategy besides probably high frequency scalping has good or bad periods. If you know what to expect it's no biggie to sit through the poor period with just little scratches and no deep scars knowing the better times come and you kill the buffalo.
I still wonder if this TA stuff is 'enough', but i'm yet to find any real alternative, so I hope you're right. I'm working on something new for now, and i'm just sticking with GBPUSD at the moment. Weeks results:
TA is how I make a living for a few years already. Of course it's not "just" TA. Wrbtrader points it out well. It's TA + money/trade management + self-control + statistics etc. But reason to enter trade for me is always TA. Reason to exit can be TA or statistics, depending on situation. I am not sure if MAE/MFE stats can be considered derivative of TA or thing by it's own.
Thanks, and I say you are finally getting very close to market reality. You will realize that you can remove your style of TA-- price action or whatever from the entry equation, keep doing everything else exactly the same--- and guess what- -LUCK will still play the same role allowing you to end the year nicely positively as long as you dont lose alot and keep plunging--- here's how the real pro's think about luck: http://www.lmcm.com/868299.pdf http://www.amazon.com/books/dp/1422184234 surf
Surf, I simply can't deny the reality of certain levels being respected by the market with amazing consistency. If I stop considering them I'll miss significant part of important trading info. It's 100% objective, believe me.