Then you need to be right https://www.elitetrader.com/et/thre...need-to-be-right-in-trading-decisions.304141/
Impatience Throws Off Your Timing Have you ever bought right before the price drops? Then, on the next setup (if you even see it through your frustration) you don't buy because you're disheartened or don't have enough time to place the new trade? You then watch in frustration and anger as the price takes off in the anticipated direction. Does this happen often? When this situation occurs traders often say "My timing is off" or that "I'm out of sync with the market." That's true, but a better way to think of it is "My patience is off."
Sometime occured on these situation when open order but then suddenly price against and causing loss floating, and usually I am use stop loss to manage the risk when price move not like as early analysis
When markets get choppy ,traders get cleaned http://traderfeed.blogspot.co.uk/2009/10/thoughts-on-trading-choppy-markets.html
Might if only read simple theory is easy to making profit, don't against the trend but this still left next question about the trend itself which easy to changed
Hello, Good debate. I do not know how to time the market day-to-day or no way to predict if prices will go up or down. I don't think noone can time the market and state "it will go to price at this day or time". I believe traders think "I have seen this similar situation before and it made money, so if I do this again, there is a possibility I will make money. And if it I do it over and over again, I may lose money, but I will make more money then I lose overtime" That is how I think.
You can't make money betting on past price behaviour , you can only make money if u understand the fundamentals diving future prices. You can only time markets , if you were god or you are a very patient trader .You should understand patience , it is a very special skill , not available in 98% of traders. If you knew what news will come out , if you knew what price will do on news releases , you can time markets , but only deluded traders know it. even if you know where price is going , traders self sabotage themselves.
Hello, I disagree. If a trader can not make money "betting on past price behaviour", then what is trading all about? Why do people backtest ideas with historical data that can possibly make money? I am referring to day trading.