This assumes the strategies of successful traders rely exclusively on looking at charts. That's a big assumption, in my view. Since the beginning of the stock markets, people have made money trading manually. Over hundreds of years not much has changed in that respect. Technology is vastly different and people often have the impression that only a quantitative approach will work, but that is simply not true. Trading is pretty much the same as it always has been. As Bernard Baruch, one of the great speculators of all time, observed many years ago: âDuring my 87 years I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual, or the ability to think.â I respectfully suggest that successful manual trading still, always has and always will require these two vital attributes. Without these, manual trading is indeed "impossible".
Sorry about that... forgot to resize smaller before attaching. But then again, how badly could this whole thread get ruined regardless? Trading is hard, it has always been hard and it will always be hard. Except for very brief blips of time when volatility is at extreme highs and massive price moves fly all around, there are very few actionable spots per session in any market. The whole "bar-by-bar" concept is flawed: most of the time price movement is a coin toss as to what happens next. A few times per session on average you will have chances to trade similar setups that offer a distinct edge when lumped together for dozens of said similar trades combined. Each and every lone trade is a coin toss outcome. Taking ten different, totally unrelated trade setups are ten individual coin tosses. Taking ten similar structured setups with a known bias outcome when lumped together is a defined edge. Those factual points tend to elude most aspiring trader.
the funny thing is when the market hands you a large profit, you take it quickly because you know how it can turn on a dime but when the market hands you a large loss you take it because you know how it can just keep going
our brains have to adapt to trading and in the beginning ,it's usually adapt to losing, http://hubertsenters.com/5-stages-of-a-trader/
the brain is a magnificent animal more powerful than the recent computer they just invented the one thing my powerful brain has told me is whenever another man uses the word "Edge" he is probably a born loser
no kidding, you use to be able to do that with es, sitting at your computer with an aol dial up in your pajamas and from what I hear nq was even better those were the days my friend we thought they'd never end now you actually have to work for a living might I suggest you take a look at forex? They are still doing that over there
well actually, when I was trading ES, I always took a 2 mile walk, and got fully dressed in business clothes before the market opened. Just so my wife at the time wouldn't think I had flipped out. but yes, buy the bid, sell the ask anything more is just gravy get stuck with a couple of those overnight and you become a position trader and that is where the real money is made or lost