You can lead a horse to water, but you can't make him do reliable stats. lol Want some practice? Here's an age old setup with black and white answers to the Morse questions. A Setup. https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-18#post-5309309 Morse https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706 If you are not inclined to go this route, good. lol Somebody gotta donate.
Whoa,wait one minute..Scat publicly replied to me a while back that he took first place in the U.S. Investing championships..It may have been in the "fund" division,I dont really recall... Was Scat a one hit wonder???? Is he a legend in his own mind??
That's a funny story. Thanks. I agree 1000% times 1000 raised to the 5th power. As a rule of thumb those who preach the most here know the least and those who know the most keep to themselves. I think that's a safe belief that would benefit many to adopt. Don't trust what anyone here says if you can't verify it on your own through testing and logic. My basic assumption is that most people posting here are full of sh*t and those few who ain't, well, maybe they're still not as good as they'd like you to believe. Giving very specific trading advice unless you're not printing money yourself or have not accumulated substantial profits is simply the blind leading the blind and a disservice to your fellow man.
There's another unfortunate aspect of trading forums. One will attempt to subtly give clues on an aspect of trading in order to get people to think another way, but you are hit with a barrage of criticism. Some people are so stupid and arrogant, they just can't take advice, they feel threatened by others with more experience. Hence it's folly to instruct because the thanks you get are insults. I remember years ago attending TA classes (Transactional Analysis) which was psychology lessons on how people behave, the very senior tutor repeated frequently "The rescuer becomes the victim".
Believe Nothing You Hear, and Only One Half That You See Edgar Allan Poe? Dinah Craik? Apocryphal? https://quoteinvestigator.com/2017/06/23/half-see/
A lie. Same with@handle123. When asked to produce their name (privately) that corresponds to an actual winner -> picks a name off the leaderboard -> name is found on a web-search and contacted -> denies posting or reading ET. scat's name (from bowling) is known and was never seen on any USIC leaderboard. Complete fabrication. The dude who doxxed scat is ET's Deep Throat and I will not divulge. Deep Throat's real initials are SC and he's my bud and has been on my chat-server but I will never tell. You decide for yourselves.
I can name, on two hands, all of the legit buy and sell side personalities and all but one or two of them are on my TG server. (@Kevin Schmit being the holdout )
Here are the facts the way I see it. PA & Fibs (recent thread discussion going on) have a wee bit of merit but not a great amount. Some advantages but they also carry a good proportion of disadvantage. Like any following, it can and will lead you down the garden path. A simple moving average will give you as many benefits depending on how you apply and is far simpler to apply. Note: I don't use moving averages.
Here, 5MA, buy the rising, sell the falling. Nothing complicated, better and easier than fibs or PA. But it's not a system I use, the point being why complicate trading with PA & Fibs when you can use a simple MA?
Tesla chart, here all you clever PA / Fib guys, tell us what Tesla is going to do? I'll get a 100 different explanations.