Agreed. It only appears random because bulls and bears are constantly battling which makes the price action harder to read...but the answer is always there. Just takes a lot of practice and screen time to be able to see clearly what's going on. Probably just wise (for single instruments at least) to pick a time frame and study the hell out of the price action daily. Eventually you'll pick up certain commonalities that tend to occur and can create a trade strategy around it. Plus, it's fun this way. I'll give it a shot! Great post!
Hello proftradingjourney, Like all swords, they are used to eat and kill. We all have to figure out how to kill and eat in the futures market. Taking money everyday in the ES futures market has become like walking to me, VERY EASY for me to to do
Cool. Fyi, have you noticed this rounded bottom phenomena that occurs in /ES a lot? It's like price will cycle up, top out, and break down hard and fast, but then there are always these extended consolidations that eventually break out. I see it on the 1 and 5 min chart. Doesn't occur extremely frequently but high RR potential.
%% NOT sure why he thinks anyone would put on a 50/50 trade ; but since he implies mostly better, fine Gravity+ laws of lift.....................................
How large and lengthy are your drawdowns? Seems like a pretty tough game to bleed down month after month after month until Covid comes along, or a plane crashes, etc and you get paid off.
Trader's equation, murray, trader's equation. Al says 50/50 is okay because distance to profit target = 2x distance to stop loss. You seem unconvinced but you can't argue with gravity.
%% OK savior ; in hindsight i NEVER really knew 100% if i could make money in any of my businesses. But like DR Brooks, desire helps, in a non random market ; Just like he knew he wanted to be a doctor. I knew I did not want to work for some else, except Savoir or SCHW or IBKR, helped some banks also some what. 50-50% are not the long term numbers for many, many UpmoVes in Stock Market. Its not a horse race also; even though good MAGazine ad on IBKR founding father riding a horse around a bunch of yellow cabs LOL Bottom line in that IBKR ad ''NEVER chose an ordinary investment vehicle ''LOL, Turtles made a fortune way under 50% hit rate......................................
I get the gist of what you're saying, murray t, and I'm with you about the doctor making up numbers to fit his equation. In the interview clip, he can't even explain it himself without stumbling and bumbling. The doctor is plain goofy.