How many times have you boasted about your "report" this week alone? Don't try being disingenuous. You're not particularly good at it.
Most of these make no sense. Scaling in and out is how pros trade. Not risking more than 2% unless your account is huge is a sure way never to have a large win.
All 4 of these are extremely important to be highly successful. Miss one and you will not be highly successful whether pro or not. Its not arguable.
Obviously the facts are against you. Every pro trader has had that one big break by betting big when warranted. Not to mention scaling in snd out. No one can call the market exactly( well only on elite) so scaling is a must.
I will agree in that trading without inside info its mostly educated guessing but there is nothing wrong with that. I looked at UK and US data from 1st April - Today and data was so so for both UK and UK but the GBP soared 1000 pips ? if I had to guess it would be people exiting the shorts they had all year after the US stopped knocking economic data out of the park. The huge 200 pip drop today was due to hints at possible deflation in the UK, first time in 50 years in the UK apparently. So could be the short of a lifetime But then again its just a guess. This is actually how I traded when I made big money, I would take a position at the Sydney open, position my stop on a technical basis and expect the fundamentals to drive the price in my favour when London/NY opened. I used to say to myself "the EU is gonna have crap data tomorrow and the FED will say something to really drive the dollar" Oh those were the days so simple, so much money
At client with very poor 3G signal and no access to there Wifi so watched badly and missed todays action. Got to agree with Markets, sometimes you've got to take risks though, especially if you have a small account, obviously only when you've got a real near sure bet. 37.5% don't believe in PA, good start
Yeah, it is a waste of time considering a few of the most outspoken bashers of any forum of technical analysis actually use the stuff themselves but just not in the same way as those they bash. Thus, they haven't gotten the courage to come out of the closet and say I use TA or PA too. ops: I'm being serious, a few post elsewhere and have pretty charts with indicators, volume and other stuff on their charts. If they aren't posting charts, they're using terms like Head & Shoulders, Double Tops/Bottoms, Flag Pattern, Moving Average Crossover, Bullish Harami and many other terms in their illustrative analysis. They then come back to ET and start arguments with those using charts, with those using price action, with those using indicators and with those using any form of technical analysis. Thus, be careful whom you debate with here at this forum, some here are doing such for fun, personal vendetta against someone specific (most of the time its this), to be a troll, let off some steam, to lead readers to their own hidden agendas and to simply just make themselves seem important at this forum to compensate for some type of self-esteem issue...essentially this place is just entertainment. Think I'm wrong...watch carefully, the noise ratio will soon begin declining until next year around March when it begins rising again through April and May. Why ? Tax season...reality hurts and puts folks in nasty moods. Therefore, the next time you or anyone decide to reply back to defend TA/PA to someone that bashes TA/PA...take a long pause and think is this one of those closet TA/PA users that's just trying to get a reaction or is just doing such because they have a personal vendetta against someone in particular ? The latter is very obvious and we know who they are. P.S. If it works, keep using it. If it doesn't work...find something else that works. If you can't find something else...find another career. Its that simple.
%% Good points; 75-80%+/ right. I remember when I was a kid, my banker dad taught me to scale fish with a fish scaler. Scale in works well; like the lawyer said ''tell the truth, the whole truth + nothing but the truth, so help me GOD.,