Yes, it is. I still don't "believe" in charts as a sole trading technique, but in case you ( plural ) haven't figured out-- some of my anti TA material is just shctick and theater--- the wise ones here on elite already know this,as was revealed in a post or two...... surf:eek:
I realized long ago the inconsistencies in what you were saying with regards to your method and TA. I was just playing along with you. PS Have you done your 10 pushups yet?
Bear flags and the persistance of Gold's support--- Per the bear flag TA indicator, we are on an extended 8th flag that is signaling an extended down wave once again-- http://finance.yahoo.com/news/does-gold-wings-technical-indicator-150000874.html
Not sure if anyone can relate to this. One thing I am trying to improve is to become far more detached to a given trade idea. I often spend a lot of time trying to find a perfect trade idea and entry. And, traditionally, I have despised losing, even small amounts, even though this is a cost of doing business. This discussion of shorting gold is a great example of how my attachment and bias leads to unnecessary stress. So what if a trade idea doesn't work out? The way I am trying to approach my trading is to be able and willing to enter a trade randomly with a pre-determined stop loss, and not care one way or another whether the trade works or not. Naturally, this is intimately tied into one's risk management and position sizing plan. In practice, I will not actually trade this way (random entry and completely hands off with automatic execution of all stop loss orders), but I believe having such a mentality (not being attached to the bias or outcome of a 'prediction') will improve my trading greatly. And, removing bias will help me to better accept being wrong about predicting a direction and possibly reversing into a profitable trade at important inflection points. Anyway, sorry to hijack your thread. I just wanted to share some of my current thoughts applicable to my own trading. I do realize other people trade differently, whether on fundamentals or moon phases, or what have you, and so the above might be inapplicable or even detrimental to such an approach. Thus, YMMV.
If you can do 10 push ups when out of shape, then you will be fine. With the appropriate effort, you will absolutely see quick improvements and meet your goals.
Thanks, I can probalbly do 15 if I push it-- but starting with 10 and plan on doing 10/day for next week or so, then slowly increase.
No hijacking-- i apprieciate the contribution--- i think this is the difference between a trader and a speculator-- a speculator needs to believe in his position, not blind faith, but belief built on research wheras a trader has no belief in market direction but rather tries to catch moves both ways..... surf