Again, semantics. Final post, thanks for the discussion. I blame myself for misleading you. Lets go to CHIT CHAT and rip some republicans.....HA....
ElectricSavant, Pretty smart. Sounds almost like that much villified thing called "prediction". After all that recent nonsensical talk about TA in other threads, you seem to be the only one who has any clear idea of what TA could really consist of. Congratulations! As to my looking at charts. I kind of followed your advice. I have looked a lot at charts in my life. I learned from it all the things that don't work. Right now, I don't need charts anymore as in the meantime, I found out what to do to turn a profit (most of the time ). nononsense
Hi bighog, You can certainly say that. This also holds for your: " Lets Review Basic Simple Trades: Easy Trading" Charts, indicators? BASIC, SIMPLE & EASY? To do what? End up with the 95% average TA Joe? The BASIC, EASY things that work are NEVER up for discussion. That's nononsense's semantics.
With respect to day trading, I will look at daily charts for the overall trend. I believe feel for the market is the best indicator, the intraday charts and indicators are merely a distraction.
nononsense.....now i like that....you said you learned what not to do in order to make money. THAT is exactly what i meant in a round about way about technical analysis The line about looking at charts was a mistake on my part, it should have been omitted. I also LEARNED from the CHARTS but yes as the imprints are deep inside the intuitive mechanism we no longer "NEED" to decipher a chart....BUT...as good as i claim to be, which can only be proven by me (maybe when i go on a chat room and call the trades in real time), i STILL will look at a chart to see where the mkt is. makes sense to me. Having a FEEL for the mkt is fine if paper trading, but in real life a "FEEL" is more attuned to puppy love . Have fun trading tomorrow...... PS, i discuss trading and politics but do not discuss how much money i make or lose. That is personal. if i do a partner or 2 or 3 later then that would be a different story.
bighog, coming back to your semantics, I never used "FEEL". That's only good for psycho threads, not for making money. As to charts, I really don't look at a chart before a trade. I kind of let my computer "look" at it, not truly "the chart" but it could plot it if I would ask it. You could say my algorithms kind of embody the little wisdom I managed to scrape together over the years out of those charts. I know that if I would start looking at a chart before I trade, not trusting my computer, I am almost certainly going to lose money. I'm truly terrible with "FEELING" charts in realtime.
Bighog: I am referring to live trading in my statement, paper trading is not a subject for me to talk about. I don't know any successful day traders (including myself) who rely solely on indicators and charts. Not that they don't work don't get me wrong, just not for myself or anyone else I know.... feel for the market is the best indicator.
nononsense, But we should not think that our edge is the only way. I know traders better than myself that do not agree with us. I cannot speak for you, but I found a way to trade without a chart, direction or indicators and take pips purely out of a market that will give it. My vision is to focus, but also learn other ways to trade. I want to try trading all the instruments different ways to see if I can still learn how to trade. One thing I have not mastered and have given up on is discretionary trading. I need a strict set of rules from my spreadsheet to manage my emotion. Good trading nononsense and congrats to your discoveries. I wish you many more...cya some day.... Thread Author: easy trading? Some say that I find ways to make complicated the "Keeping it Simple". I regret that I can not teach better and explain how I trade in simple sentences and "Plain Speak". For this reason I have trouble contributing to this thread. Michael B.
I have a system also that does not use charts, only a spreadsheet. It works but is too slow these days and takes more stomach than reward. Your chartless system sounds much better than mine.