bull flag which took out all the thee pip stops twice.hindsight trading is easy without bare buttocks.
LOLOL Oiler it's time for a new career! Take your life down a new, more positive path. Since being a trading guru isn't working out for you, maybe you could sell a different kind of self-help materials? You can be a workout guru and change your name from oilfxpro to cardiocalisthenicspro. here's some inspiration: http://www.youtube.com/watch?v=na9ZZ4ZjVa8
Well, I guess we know now know why you can't trade, you are looking at the wrong way to trade that chart. Using my own method, just from that chart alone, I see profitable setups. I see these setups before they happen which is why Mon and Tue I had 100% winning trades none losing. Can one take a trade off of a pivot line counter to trend, yes but only if an indicator which you don't have on that chart tells you its time. Just trading a pivot for no reason, is not a valid trading setup. One should normally have at least 2 confirmations to get into a trade setup or 1 confirmation if they have a high win% with that confirmation. I think I see what you TA doubters have a problem of, you pick one Technical tool like pivots or fibs, and see on a chart that they sometimes don't work so you make the incorrect statistical analysis that TA dose not work. Also, since 90% of the traders who trade, also incorrectly use TA, they also fail, and come to bitch on ET. Then they want proof we can trade TA, or want us to give away for free our profitable methods that we worked years to develop. Well, its not going to happen. You can bitch and cry all you want on ET, and start as many threads as you want, I am not going to help you trade. Finally, most people are too lazy or stupid even if they are shown a profitable setup, to trade it correctly.
If you used pivot points with divergence or stochastis/cci and break of 1 min trend line and previous resistance , it would give multiple confirmations for a counter trend trade.So t/a is junk science.
Coming soon to a forum near you...... Oiler gets mentored by the Exspurt. Let's put this argument to rest once and for all--live here on ET! After learning the trading concepts he will start out sim trading for coconuts. Once success is demonstrated in 'coconut mode' he will move on to live trading a small forex account. So can it be done? Can Oiler be turned away from a life of internet EA crime and set on the path to righteousness and trading profits?? Stay tuned!
So what, get in on the 3rd and enjoy the ride... Oh you don't like it, you want certainty in your life? Then trading is simply not for you, better admit it ASAP than torture yourself more with vain efforts. Same with all TA, including your pivot points example above. It's always context, odds and never a certainty. What most TA "testers" fail to do is consider any context, they take raw TA patterns, test them mechanically and conclude TA "doesn't work". Makes me really wonder how these people survive, because if you "test" crossing the street in the same fashion sometimes you'll "win" but soon you'll "lose". Amazing how far away one can get himself from the reality of life...
Really? Failed reversals occur in strong trends? What a shock! LOL, brother Oily, you made my day early in the session, thank you so much!
This is a dumb EA approach - I don't mean you are dumb, I mean the EA. As I posted in another thread, some people can't learn TA for a variety of reasons. I'm not sure if Oily has ADHD or is just an unwillingness to start at point 1 and move to point 20. Spending 9 yrs on EA's is a gamblers addiction because you can catch on that these are a poor substitute for paying your dues in the learning curve. However Oily has a few threads on depression and perhaps there is a connection. Certainly enough folks here have told him what he thinks is TA is not TA, but it is like water off a duck's back. The reluctance to learn TA and 9 yrs trying to discover the magic EA combination indicates a problem at a deeper level. Some gamblers want to lose, it's deep in their psyche. Certainly there is something causing a mental blockage that is beyond any help I could offer. I used to be a pro gambler and I met multitudes who were addicted to losing. They had zero interest in learning how to win if it demanded study and EA's are all the rage for the offer of instant success, just as it is in trading. I'd suggest you try betting on horses to lose. It's a big market and the odds are more in your favor, but again you need to study to understand when a stable needs a horse to lose to reduce handicap weight and increase odds before the big hit. In another 9 years you'll be no further on with EA's because the market has an ever changing nature. We've had our banter and a laugh at each other, and I wish you well Oily.
You made my day as well . proves my point failed reversals , failed resistance , failed trends , failed breakouts ,and failed trader/cum mentor.
Brother Oily, do you realize that fact of failures existing and % of those failures of raw TA setups has absolutely nothing to do with the fact if those setups are junk or not? Do you understand that pattern may not "fail" only 20% of time, but still have a great edge? You are interested in trading for years, how comes you do not understand such basic ideas of speculation as a game of odds?