Yes. You're presenting info as if it is fact. That's mature. I bet you'll win a lot of friends and influence people with that attitude. That might be, but I've never seen a book that contained any profitable systems. Books also show how to use MACD and other worthless indicators profitably. You're adopting the frame of a teacher. In other words, you're acting as if you're a teacher. http://www.elitetrader.com/vb/showthread.php?s=&threadid=187739 Are those stats of a profitable trader? Perhaps I am confused. Is "working well for you" why you're losing money trading?
Like C, I took a small size on WYNN near the highs, and my stops in the 60 range. I expect some kind of upside break out, but if the market starts off weak then that could all change, but as of now it looks good. We've been in a range the past couple of months, but with an upward bias, again, making higher highs, and higher lows. Nothing fancy. WARNING: I AM NOT A GURU. PLEASE TAKE EVERYTHING I SAY WITH A GRAIN OF SALT Maybe that will make some people here happier.
Like I said before, I think you've got good motivation, but you have a bad attitude and you're still caught up in delusional guru beliefs. You're paying for fibonacci (hocus pocus) lessons from a guru yet you're still not trading profitably, but you believe that if you study the vagueness and ambiguity more and more maybe you will learn the jedi secret, and you attack anyone who disagrees. I would even be willing to discuss trading ideas with you (as I do with many other posters) but you've got such a bad attitude that I don't really want to talk to you.
Oh, so one can't make money with indicators? And so are 99.9% of the traders on et who give advice. If I'm stealing your spot light, dare I say..."contribute something useful. " Good job being elusive showing my pnl from January, and not february. A few down months has no bearing on one's long term pnl as a trader. You should no that. Guess not.
Correct. Show me a profitable method that uses indicators and I will withdraw my claim. An actual profitable method, not some vague, ambiguous bullshit method that is like "oh look, here it works, but there it didn't work, but (in hindsight) I didn't take that second trade because of blah blah ambiguity" like the TA "gurus" always use. "oh shit, my method didn't work, I better make up an excuse about why I didn't take that trade so I can retain my guru status and keep my subscribers." Not disagreeing there, but some people are worse offenders than others. I contribute tons of useful info. I laid out a complete system (the only profitable and non-vague, non-ambiguous system, where every possible outcome is laid out and established before ever entering the trade, unlike every other "fib guru" who, in hindsight, claims that fibs are "predictive") for trading using your precious fibs. I cut and pasted the most recent PnLs that I saw in that thread. I figure the most recent YTD PnL was the most accurate. I made over $5k last week and $4k this week (in an approx. $50k account if you care about percentages) using less than $10k in margin. No ambiguity, no vagueness, no excuses. I posted every trade (live calls and screenshots where I could) and PnL statements for every day. How did your "fib gurus" do? How many excuses did they make in hindsight about why fibs worked sometimes and not other times? How many direct, specific questions did you ask them that were answered with vague, ambiguous magical-guru-speak drink-the-koolaid bullshit fortune cookie answers?
I dont mean to sound rude, but what does this have anything to do with the original OP's question about price action ?
Ironfist. Traderzones asked you: And you responded over a year ago & I really didn't get a clear understanding of the answer to his question. Can you elaborate on the answer to his question, or if you want to answer it in your thread just let me know & I'll read it there. Thanks!