I don't think there's enough info here. Day trading is different from swing trading, options, momentum, commodities, diversified stuff etc... To me, they are all a bit different and require a different mindset and approach. Some of these things are more important in certain areas and less so in others.
Maybe. Like any other tool it depends on how you use it. For what it's worth I don't use it, although I do use patterns that have occurred before.
i will agree back-testing is misused and not for most people, but statistics are just facts laid out before you.
%% ALL of these answers seemed good; + i liked the ''do something else '' a lot also. Do more investing+ especially invest @ earlier age. Do more VTWO than IWM related even though the non Vanguard ETF has had better volume than the Vanguard. But's that just personal + no auto edge in lower volume, generally. I cant apply that to trading/ commissions were so hi when i started, compared to 2022 I cant really agree to the lost edge part; but tried to give a helpful answer anyway
Cant speak for anyone else but I use statistics that price action created to build my probability models,then go from there.
Hello David's faith, Sorry, but I can not help you because I am not a +1 year consistent verifiable real time real money trader. I still do not have the following below so I can not help you. I have no clue what works, I am still building a track record. I have no Edge because: 1. I have no quantifiable believable or creditable evidence that I am profitable manual/discretionary trader for +1 months. Check back with me 11 months. 2. I have no quantifiable believable or creditable evidence that I am profitable automated trading system trader for +3 months. Check back with me in 9 months. As far as #1 goes, I do not believe in Edge, I believe in just doing whatever Price in real time tell me to do and take my best guess and hope for the best outcome consistently over the next X,XXX trades. Great post. Thank you,
I don't understand how back-testing / back-checking can be worthless. That could only be true if the markets were moving randomly. They’re not.