Price TA deniers will hate this... just posting to piss you off! :)

Useless thread with the Chart time scale censored & Merry Xmas!

 

Had this marked up but didn't take it. Caught the long but not the short.

 

Problem with allot of TA is the story kind of unfolds as it goes so hard to forward predict with great accuracy, good for levels and general momentum though

 

Seems like the problem with TA is that it creates more problems than it does solve xD

 

Yea you can definitely tie yourself in knots with it lol

 

The OP is the most hated ET member of 2024.

 

In reality sometimes the price levels work and sometimes the market goes through the level and doesn't work.

When posting in hindsight a poster can ignore the times the setups that didn't work. They just don't show those charts.

Even if the occasional failed setup is shown it is still disingenuous unless absolutely all failed setups are shown. As skipping even a few can improve the win rate considerably.

So its important to call the trade ahead of time with both a stop loss and profit target, then every failed setup can be seen, otherwise it is just disingenuous BS.

Im not calling the OP a trading snake oil vendor, because there is no indication he is selling anything, but it is the kind of thing the slimey trading snake oil vendors do when selling BS seminars and courses to newbie suckers.

 

I find it a bit shocking that it might be the case he doesn't know he is using the oldest trick in the book: Hindsight charts

He is either so dumb that he doesn't realise that hindsight charts are almost worthless, or he is doing it deliberately to troll us..

 

The OP is using TA that doesn't even exist...un-tradeable. If support and resistance/trading breakouts/order blocks worked then EVERYBODY would be rich lol. TA is dynamic and needs to constantly be adapted to price action. It all comes down to probability and statistics, not rigid lines on the chart.

 

This is exactly right. It comes down to the filtering process and trade management. Which trade do you take and which do you skip? Then, how long do you hold for? The profits have to make up for the many losses, which is possible if you ride the trade from one extreme to the other, but these rarely work out as cleanly.

So although there is nothing wrong with what Scat is showing, its how you put it all together that matters. I for the record to believe that he is highly profitable, but what is being shown is almost more dangerous than helpful. It would be like giving a medical student a scalpel. Any patient that comes for help with pains might automatically start getting body parts removed, and this clearly isn't the best approach for most patients.