You obviously also want to better understand all the "fixers" in the market. Test yourself. Ask yourself whether you can be woken in the middle of the night and explain what a CPI basket is comprised of. What the preferred measure of core inflation is of the Fed, BoC,... What are labor statistics and how are they exactly defined. Wage growth, and a whole host of other major economic indicators. Understand how they are really defined and what they mean. Then study how they historically impacted asset pricing. All that requires actual study, not just watching some green and red colored dots on broker screens or websites.
I lost the trade where I bought my supposed "support" line. After that happened, I flipped 180 and started selling eurusd, this time backed with what is hopefully good reasoning. (Good news today about NFP and USA interest rates continuing to rise).
I have tried TA, in the form of Expert Advisers that I purchased. I still KNOW that TA doesn't drive markets, and that qualitative economic news/data does. For example, could any indicator have predicted the coronavirus? Obviously not. Doesn't mean that TA can't work short-term or under certain conditions. It's hard to put into words, but I just feel more prepared this time. I actually tried this sort of free hand method on demo Forex a few months ago and was profitable over several weeks. If it went in the wrong direction, instead of selling for a loss, I would buy more. I held one pair for almost 4 weeks buying every dip until I finally sold for profit. And the blackjack thing just got me thinking that I could potentially make decent money if I could reliably get my % over 50%. I'd be more than willing to stop all this and play blackjack if there was a statistically proven method to beat the house odds. But I don't think that's possible. Especially because they sell those same "cheat sheets" I was using in the casino gift shops lol
That one you can find in equity market. Wouldn't touch forex tho. Thanks for reply. Have a nice weekend
Just buy some oil/commodity stocks and re-evaluate in a year or two. Much less effort and the results will be superior to your current approach.
If the house has an edge even against statistically perfect play, then by definition any money you made in playing it was pure luck.. ?? You say it's not irrelevant, but I'm pretty sure it is totally irrelevant. Markets have zilch to do with blackjack. Jim Simons didn't lose money in 2020. On the contrary, he made a killing: https://www.institutionalinvestor.c...76-in-2020-But-Funds-Open-to-Outsiders-Tanked Do you have an edge in FX trading? It doesn't sound like you do. Don't trade without an edge if your goal is making money.