Ok, if you are writing an article, then totally cool. That's what you do, you are a writer. Makes total sense. Wish you could just see how, as a trader, I choose to trade my LIVE account over some fantasy world environment. I have nothing to gain from it. It's a waste of my time.
No no no, wait... Performance is actually pathetic, because as I said it's very distracting to peform demo trades there and simultaneously trade for myself using two platforms.... quite the crappy experience when you day-trade with distractions like that. BUT... how could I fake the continuous result of 26 trades on the same account? It is indeed "II" because "#1" was used to test the executions and stuff and performance there was pretty much random... that account (called 123) was abandoned by me while in the green by the small amount, nevertheless.
Hey surf, remember this "guess" as well as the YM? In case you have forgotten I've put a big red arrow at where you WOULD have been making money if you had a TA price drover. Funny thing is you called short into a bull long and then panicked out before the short. Go on - tell me I had another lucky guess. Go through my old posts and you'll find I'm one lucky guesser. (Don't tell surf these are all real time) Find the red arrow...
You really have no clue what technical price action analysis is about. You know whatâs easy? Putting on a trade when it seems like price has run too high or fallen too low. Trading without a stop and averaging down because price ALWAYS does X. Moving a stop to break even as soon as a trade becomes a bit profitable because that way itâs a free ride and you canât lose. Taking a few losses, then giving up on that method and finding a new one. Having a profitable trade and calling it day to avoid risking that profit. Posting on trading forums âTA is uselessâ âTA doesnât workâ âTA is junk scienceâ âStops are for amateursâ â90% of small retail traders lose, they just loseâ, yet offering not one iota of useful information such as what DOES work, how to trade without stops and not lose your ass, and what the 10% who win are doing right. Now, you know whatâs hard? Buying when price is making higher highs and selling when price is making lower lows. Patiently waiting for a reversal signal before trading against a defined trend. Placing a limit order to buy or sell as price pulls back to the price where the weak hands moved their stops to break even and getting slippage-free fills. You know what else is hard? Spending a couple thousand hours studying intraday price gyrations to catalog everything that happens when price turns and makes a tradable move in the opposite direction. Determining which of those things happen more often than not, and how much more often than not. Defining in words and pictures the price footprints (chart patterns and/or indicator patterns) leading into these tradable moves. Identifying setups that look good in isolation, but tend to fail more often than not in certain price environments. Identifying the price environments that cause these setups to fail. Defining in words and pictures exactly what these price environments look like. Identifying price levels at which the odds of a trade reaching a profit target before hitting a maximum loss shift from positive to negative. Identifying the optimal methods of exiting a trade when this happens. Writing a complete trading plan based on the months of research this takes. Learning to trust and trade this plan without screwing up. Screwing up. Trying again. Doing well and believing you've mastered the trader's mindset. Screwing up. Finally trusting that all you need are odds in your favor and the ability to stop second guessing (Thinking While Trading), and finally humbly following your trading plan based on solid technical analysis. Surf, you trade fundamental price drivers, ammo trades market profile, RW trades DeMark exhaustion, Josh uses market delta, Pat trades price blocks, Handle123 watches volume shifts, some use Bollinger bands, others use stochastics, and yet others use plain naked bar charts. I donât believe Iâve ever been disrespectful of anyoneâs methods, and Iâve never said any of them donât work and are useless. All I claim is that technical price action methods allow a trader to produce consistent profits over the long haul through varying market conditions. As for the combine challenge, Iâve nothing to prove. Iâve proven TA works by calling trades in advance many, many times, and Iâve proven it by teaching these methods to several traders. I actively day trade two separate accounts with two different brokers, and I actively swing trade two other accounts. If someone wants badly enough for me to put aside my profit opportunities to prove TA works by participating in a âjust for funâsimulated trading combine for 10 days because s/he believes TA is useless junk science, s/he can fork over $50K to cover the profits I may generate trading my 5 lot minimum in the combine (and if I generate more because we have some more days in crude oil like we had last week), tell you what, I'll give 30 extra days to cover the difference.
If success doing something isn't proof that doing it works then why are you on here asking for examples of successful TA traders? I understand your argument but without proof for your argument it doesn't invalidate the success of trend traders and TA traders. And you haven't given any evidence that their success was just luck. Seems this subject has a religious like following on both sides. And this is from someone who has zero religious like beliefs (I try to anyway) I see more evidence for some TA than against it, IMHO. I can also see the evidence for fundamental investing like Buffett and Lynch, this isn't an either/or discussion.
They do say you can judge the worth of an idea based on the success of those you teach it to-- even more so than your own-- so in that case, I applaud you for being a succesful trading teacher. 50 k every 10 days out the market is impressive. over a mill a year--- not bad! I'll take the rest of your post as another excuse why none of the TA brigade will participate. respectfully, surf
Have you ever tried stand up comedy? You honestly make me roar with laughter You're almost up there with Hershey, except he is more logical. Tell you what - I'll decline your generous offer to rid myself of 10 days income for your journalistic benefit, but I'll drop in here and show you how lucky I am with your future calls when I get a chance.