How can you even claim that technicals matter?

Discussion in 'Technical Analysis' started by farmerjohn1324, Jan 30, 2020.

  1. zdave83

    zdave83

    Maybe ... but if over many many years, and a lot of hard work, you identify a repeating pattern of behavior that allows you take profits with some consistency, I bet you'd be very proud of that accomplishment. Rightfully so. And when some random person on social media demands that you teach them to do that in 5 easy steps ...... would you be glad to invest a lot of your time, away from your other interests, to turn that hard earned accomplishment over to them ? ... for free ? ... with no benefit to you ?
     
    #201     Jan 31, 2020
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  2. do you trade static ? Meaning that you buy sell levels based on a method you developed or do you scale in position ? Do you have draw downs ? No overnights positions ? Futures ?
    OR

    do you do everything in context of what you think you see ,,
     
    #202     Jan 31, 2020
  3. Handle123

    Handle123

    "How can you even claim that technicals matter?"

    Volume moves the price, retail size does not, they are bait to make a little more.
    You can either trade with volume or try against it by timing.

    Any one trade has a 50/50 % chance of success, where it changes is RISK management, all one can control more than 50% is management of the trade and your ability to memorize quickly patterns you either read about and developed yourself alters bottom line.

    For some luck is pure luck is no better than betting on red or black and for others we make our own luck but knowing TREND, when it should start and end, get long early to make the most on runners, seeing when it should end so avoiding last signals that often either loses or breakevens, and trading is not you against the market, it is you against you, sticking to the rules you used to backtest to make sure your methods have that profitability or "edge".

    If you looking for more of scalping profits, your winning percentages should be very high to cover losses and fees, if you going for larger profits percentages can be lower so long as reward to risk much greater. As your years of trading increase, like any other profession, profitable percentages increase and drawdowns should decrease.
     
    #203     Jan 31, 2020
    PennySnatch and wave like this.
  4. I don't know what you mean by "trade static".

    I don't trade "pre-determined levels", if that's what you mean. I trade "chart indicated", as should everyone.

    Of course I have draw downs... just try to keep them minimized.

    Overnight? Depends upon the margin I have for futures. Overnight is itself an additional risk. Anything can happen during Asian/European markets. In the ES, you can eliminate that by just going flat. If you've also got ETFs or individual equities, overnight increases your short-term risk.

    I trade ES futures and ETFs, mostly
     
    Last edited: Jan 31, 2020
    #204     Jan 31, 2020
  5. KCalhoun

    KCalhoun

    all that matters is price action & trade management, period
     
    #205     Jan 31, 2020
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  6. ABSOFRICKINLUTELY! KISS, as always.
     
    #206     Jan 31, 2020
    KCalhoun likes this.
  7. No information on this site...good chatter spot couple good articles
     
    #207     Jan 31, 2020
  8. speedo

    speedo

    Trend day special with massive range.
     
    #208     Jan 31, 2020
    NQurious likes this.
  9. speedo

    speedo

    :fistbump:
     
    #209     Jan 31, 2020
    NQurious likes this.
  10. I think the selling is done (note: I shorted last night after AMZN didn't take NQ to ATH - covered too early so no position right now)
     
    #210     Jan 31, 2020
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