my goodness!!! cannot do that. Amitaba or Peace be with you or whatever. Buddhists don't kill. But if offer the meat, they can eat that meat. That's interesting.
newbie traders open the trade, successful traders close the trade. I am referring to short time trading /scalping only. If you don't anticipate then you will never be able to scalp. Scalping 101 is anticipate, participate and exit, (APE).
I read many books in 90's, I know where many are entering and this area is where models be reversing, know where others are using tight stops or get to breakeven and reverse again at those areas. Am not pushing the market but tailcoating much larger automation, size usually wins. At S/R areas, models take constant ratio's of speed of price and volume(interest) increasing or decreasing. Momentum is fine when price speed/volume is increasing, but don't last forever. Hesitation is loss of speed or can be thought as divergence of the norm. Times have changed of finding an upsloping EMA and going with the flow, but even a broken clock works twice a day.
%% Thanks; but i never use an online dictionary if i dont have to; they change the meaning of words + are so inaccurate. Snake oil salesman like the word predict; that's why its in so many ads. LOL-LOL [NOT saying you are snake oil.]......................................................................................................
Predict hasn't changed much. I hope that one day, you'll overcome your fear of the online Google dictionary, and of the words used by con men. Btw, correlation doesn't necessarily mean causation: Just because most con men drive cars; doesn't mean that everyone that drives a car is a con man. Just because most con men wear suits; doesn't mean that everyone that wears a suit is a con man.
I think this discussion highlights the importance of context. Without context everyone's opposing view is correct. The statement 'successful traders don't predict' is typically used to highlight the 'objectivity' of leveraged, short-term trading. It is not generally used when discussing fundamental analysis, macro-models, predictive modelling, statistical models, portfolio/asset management and long-term investing.
In my opinions: I think this discussion highlights the importance of specificity. Somewhere I learned that the onus is on the drafter of a document to be clear. And any lack of clarity shall be left to the interpretation of the reader, even to the drafter's detriment. Rather than simply restate a position more clearly, many just double-down on their broad, general, false conclusions. Rather than argue illogically, simply admit the mistake, and clarify the statement. For example, more viable arguments are: Successful traders don't predict with 100% certainty. Or; Successful traders don't predict price targets weeks away. Or a narcissistic straddle trader might say; Successful traders don't predict directions. Even so, all such "Successful traders don't ..." decrees imply the writer has researched thousands of traders, and found none successful other than what they assert. And since we know that ain't true, it all boils down to much ado about nothing -- except maybe entertainment. LOL. I disagree. If the drafter of the statement fails to provide context, then the statement stands, or fails, as is. And generally; general, broad, unsubstantiated (even anecdotally), bombastic statements fail.