I use all objective rules based oscillation set-ups that are programmable for all of my trade decisions. These are not some subjective discretionary art trades made by some idiot with a magic 8 ball, tea leaves, an aluminum foil pyramid hat and flowing robes. All of the rules are the result of over a decade and a half of research that I have personal verified before I trusted a nickel of my money into it. I absolutely agree with you that if a consistent verifiable TA method were available to the general public, the results would be devastating "IF" everyone would use it. The problem is not everyone would use it. No matter how successful it was. There will always be a certain segment of the population that would have an issue with it for whatever reason. A perfect example are a number of individuals on this site that couldn't verify it was raining outside their home even if they were standing in it.
Yes, and if you disagree you are dead wrong. Pit traders have learned to "See" and "Remember" the markets last support and resistance levels as it relates to their specific trading pit. When price is currently moving up from last support, the pit is buying TOWARD last resistance. When price is currently moving down from last resistance, the pit is selling TOWARD last support. That is TA in its purest form.
so just flipping a coin as to whether to go long or short with a pre-determined stop loss that is smaller than your profit target should do the trick??
Each time you post it is obvious why you chose your nickname. You need another one called "fail3d logic" as well.
It's not my programming skills. I couldn't program my way out of a wet paper bag. Solid programming relies on solid logic and solid logic can't be based discretionary or subjective rules.
What about your "over a decade" of market experience...do you think that has any influence in your profitability ??? Mark
Mark, you are being silly. It is obvious from your comment you've never been in a pit or taken the time to talk to any of the pit traders. The traders in the pit do not make decisions based on a single price stamp and the percentage that particular price stamp is either higher or lower than the open. If you bothered to read my post, that point was made crystal clear on how then run their trades. If you didn't understand my post then it goes a long way toward you not understanding how price moves.
Absolutely not because I have a guy here in the office that has less than a years experience trading, that trades the same objective rules I do and he's as profitable as I am. Sometimes more because the little fart gets better fills than I do.
Indeed you are wrong about what I'm saying Mark. Read my statements again and I'm sure you'll eventually get the point. If I didn't explain it clear enough for you then I apologize for that. Shaka , Frits