the bias is critical in the setting of the channel-- note how much closer to current price the bullish break is than the bearish break point when first set---- surf
See, your reaction is very revealing. Yes, I consider myself being part of the market. Not in the sense that my trading has significant effect on how the market changes, but certainly in the sense that I breath with the market every day and evolve as the market evolves. Only if you live like that you know that. I am sure people who trade will agree with me how even a day or two away from the market makes you feel a bit "distanced" from what's happening and "not in the flow". You on the other side by your own admission is just writer/journalist. You write about things. Yes you regularly talk with the Wall Street "big guys" I trust you about it. But that's so typical self-delusion of many journalists to somehow believe if some professional talked to them, they understand that profession as good as he does. Not so, very far from it. Only practitioner knows for sure what trading is like, how it really feels.
That's really hilarious how Surf who never traded for a living is acting like a guru here, speaking wisdom to mere mortals.
Cornix, the energy you are expending is wasted. Surf cannot trade. No ifs buts or maybes. Surf cannot support himself via trading. To tell those of us that do this professionally what works and what doesn't is laughable. He fails the test. He falls at the first hurdle.
Most likely you are right. But at least others will read it and maybe some don't fall in the trap of believing Surf really knows what he's talking about.
Ripping on me is one thing, it comes with the territory, but saying untruths is very uncool. I traded for a living for several years in several capacities-- including for a hedge fund, for an options arb firm, and my own account--- this is not counting multiple years of daily, non professional hands on experience with numerous markets and tactics. If you really think managing $4000 in OPM in a micro mini FX account and watching gyrations on a chart is viewed as anything other than a backwater, gamblers voodoo, scratch off lottery ticket endeavor by real market participants, you are more deluded, regarding markets, than I first believed . surf
Oh, excuse me then. I had an impression you said you've never traded for a living in the sense you formulate it (close to 100% income solely from trading). Don't you mind if I ask: what instruments did you trade and what approaches did you use? Also why don't you trade now if you were successful trader in the past?