I apologize, Mark. Now I went back and re-read your earlier post. The edition of quote was for the intent of saving bandwidth. Not for cherry-picking to illustrate a point. I have seen many, many quotes of an entire earlier passage just to say "yes" or "I agree" or other one liner responses. I agree with you that Technical Analysis, with or without indicators, alone is not enough to trade successfully. What you stated: money management, experience, discipline plus others... I have. I guess what stood out and caught my eyes - as much as red color dancing in sea of green - was those one-liner verdict-like statements. But I would not agree with the OP's statement "If you want to FAIL as a trader, study TA".
Notice the CAPITALIZATION of the word potential? "resigning yourself to the inevitability of making incorrect decisions is not the answer..." I propose that what you're saying is UTTER RUBBISH and promotes a very dangerous attitude that is highly likely to result in the obliteration of your trading account.
Why do you think you are entitled to be given calls? The other week I was "challenged" to give calls to prove to others I knew what I was talking about. Ironically I had already given several correct live calls in another thread on another market, because I can, however this was not enough. The individual in question wanted calls on the market he likes to trade. You really can't please everyone. I could post twenty correct trades in a row, with entries and targets posted in advance, on ES or CL or anything else. People would still give the same crap. It would achieve nothing. At the end I would be "challenged" to do another twenty, to prove it was not a fluke and so on. What is funny is that you people think that truly expert traders are somehow required to demonstrate to you their proficiency. Actually it is you lot who have not shown any capacity for independent thought who are required to prove to us that you are worthy to be shown anything of value. Give not that which is holy unto the dogs, neither cast ye your pearls before swine, lest they trample them under their feet, and turn again and rend you. -- Matthew 7:6
Mr High & Mighty has found the "Holy Grail" then clearly (biblical quotes n'all). He can't envisage any circumstance in which his analysis could be fallible. What a load of old **** ****
Please tell me which sentence, phase, or concept in the above quoted is either incorrect or dangerous, complete with reasoning - else I cannot possibly be expected to understand the point you are making. There are two things which will wipe out a trading account: 1) Incompetent operator with no edge (including excessive leverage and running losers*) 2) Exigent circumstances: fat finger, exchange crash, order entry glitch, unexpected event Two can be planned for as far as possible, but can still affect the best of us. * - I have read from people on trading websites that they have wiped their account on one trade - they got married to an opinion, and either averaged down or moved /cancelled the stop and let the trade run until they were out of equity. Biblical quotes: I am not religious, but I always found several quotations to be very apt. Pearls before swine indeed. Yes, sometimes I get things wrong. Sometimes I make errors with my market analysis. Very seldom do these errors make it through into actual trades. I do have losing trades. However I can correctly expect to have losing trades around 5% of the time, with the losses being very cheap in comparison to my average profit on the correct trades. For these reasons I enter every trade with the expectation of being correct. If something unexpected develops, or I was incorrect, I always have a tight stop in place to take care of it. Further, if the market does not begin to behave exactly as anticipated when I entered my position, I am alerted to this almost immediately and in the majority of cases I can take remedial action if I find myself wrong, closing the trade at a scratch or slightly better. You clearly cannot do this as you refer to it as a lot of old nonsense, or whatever you said which was less polite.
No no no, you're changing your tune now vicar, now you've an expectation of potential developments that may invalidate your analysis. SO WHICH IS IT? And make your mind up in future before you start accusing people of talking rubbish.
It looks like you've missed my point. In any event you clearly demonstrate the level you are at with the following delicious examples of pikerthink, flavoured with tasty cliches and a soupcon of contradiction: Perhaps as an exercise, aspiring traders could point out what is wrong with each of the above quotes. However this thread belongs to The Expert so we shall see if he thinks it is an interesting idea. In any event I do not wish to interrupt further.
I wouldn't trust your calls as far as I could spit. Maybe where I have said predict, I should have said, "predict with 100% accuracy" not surprising tho' that you've taken my quotes then read and used them out of context. And yeah maybe you shouldn't interrupt any further, I'm not sure there's enough room here for your ego. Peace be with you. PS. clichés become so through common use, usually because they pertain to truth.