Ok so you are an expert on everything and need no outside confirmation for absolutely everything you could every come in contact with. So you have never looked outside and needed to "see" the rain to know it was raining, right? So you can tell it is dark outside, without looking outside or seeing a clock, right? So how does someone paralyzed from the waist down know they have an erection, without sight or touch, right? So you can tell it was shit you stepped in and not just mud, without smelling it, right? I'll give you the rear ender but without looking you don't know what hit you. As far as the trade goes, if you are in one that is deep in the red you shouldn't have gotten into it in the first place . . . confirmation will protect you if you have the right indicator. I haven't had a nasty drawdown trade in years. My winners are always way bigger than my losers and my win rate is always more than 50%. You were being ugly and I know exactly where you were coming from but that's ok.
when 1st learning to drive you know where the right side of the car is when it bumps into another fender,when parking,rear bumper hits car behind,front bumper ,car in front,til you are in the space,pretty soon you stop before you hit and don't need the indicators anymore..you can drive down the middle of the road and know hwere the outside of your car is....not trying to insult but they mostly tell you what has just happened,not whats about to happen,after you've bumped the car behind you,it's old news
And yet you've only just joined our esteemed community one month ago. If you "need" a lagging indication of whats already happened to confirm whats already happened, have at it.
So now you are saying that it is physically impossible to be a successful trader or investor unless you have hung out in this forum for years interacting with people that don't trade for a living? My first job in this industry was over 30 years ago with EF Hutton. I've been trading for almost 20 years. I know all indicators lag and have found that information useful in specific situations relative to the way I trade. I'm profitable, consistent, successful and extremely comfortable financially. I know that one can trade successfully with indicators AND without them because I have personally seen success both ways. I would never make such an ignorant statement that one way is better than another because I'm intelligent enough to understand that each person and they way they approach trading is a bit different and unique. Trading is as much art as it is skill and to pigeon hole people toward one direction, that just so happens to work for you, is irresponsible. There are many varying styles of throwing a baseball, throwing a football, playing tennis, building homes, running a company, etc. One learns a style of trading or investing that fits their needs and comfort level. Successful people don't become that way from being a clone of someone else, successful people become that way from taking charge of their own destiny and making it their own.
Situation: You're at a Toronto baseball game and Jose Bautista is at bat, Beckett is pitching for the Red Sox and Jose connects with a sweet pitch that send the ball flying. You can follow the ball's trajectory to KNOW it's heading toward the outfield. You can't predict whether it will clear the wall but still, you KNOW the direction. Could you immediately place a bet on that specific direction after first confirming the trajectory? Absolutely. The ball doesn't have to clear the wall to know which direction it is going and the power behind the swing. I didn't say I would bet on the outcome of the hit just the direction and power behind the hit. Based on the specific price action of a single chart one can see "the market" connect with a "sweet pitch" sending price on a clearly visible trajectory. A trader need only execute a trade based on that trajectory until the slope of the trade "ball" begins to loose strength which is where the trader exits the trade and pockets a small but consistent chunk of profit. One NEVER needs to predict where a trade will finish just view the trajectory and slope in order to profit from its movement. Oops, that bit of information cost me a few million dollars and I just gave it away for free. It's OK though because there are very very few people on this site that even understand it let alone could capitalize on it. Hey, you know what all of the "experts" on this site say don't ya? Indicators lag so they can only tell you what happened in the past? (One second ago is the past right?) Here's the pitch . . . here's the swing . . . he connected . . . it's going . . . going . . . it's outta here! Another profitable trade concluded.