Yes, of course... I just meant if one doesn't believe something is possible she/he has no chance to get it into his/her life.
Yip, for sure! The mile cannot be run in less than 4 minutes because science proved the body cannot survive the stresses. When Bannister broke the 4 min science maintained he was a freak. The very next year lots of athletes ran sub 4 min. Science declared the human body could not survive survive travel over 30 miles per hour and car manufacturers were wasting their time building engine that would propel us faster than this limit. It was impossible to split the atom. Our personal achievements may not be earth shattering, but if you believe something is impossible and because of that belief you don't attempt to break out of your mental box, then what you believe is true for you. If you don't learn the basics of TA, you'll never understand advanced TA so it is the realm of the impossible. Algo traders live in a microscopic world where 2 seconds can be a massive time frame. Banks hit the market hard with massive volume. I'm not a smart trader - I just want to see what they do and jump on that action.
But I actually use a special indicator that actually predicts the future with strong probability in combination with price action. This is the second issue that you TA doubters come up with is that traders do take losses so TA must not work. What you don't understand is that we have an edge. An edge in this instance is being defined as a profitable setup with a higher win% on equal risk vs reward above 50% that produces enough profit even when taking into account commissions and slippage. I think even you know that your arguments are simplistic by pointing to certain indicators not working. I studied over 100 indicators, before working on my trade system with the help of other profitable traders some of who are much better than me and post on ET.
Is money flow same thing as order flow? Is money flow same thing as volume? Those are same things but if not how different?
College ruled, don't worry too much about what mktsurfer says with regards to trading. He is a writer and marketer first and a hobby trader second. He's still trying to find consistency after 20 years in the biz. Grain of salt, grain of salt.
Order flow is part of it-- volume is not-- volume is only measurable after the trade takes place--making it worthless. surf
Who cares about taking measurements? Let the smart guys do their thang with their mega technology and put the money down. All I want to do is use TA to follow them as close as I can get. So I am 30 seconds out - who cares. TA shows what is happening and near enough to when it is happening. Surf, how would you trade the 15m spike?
Not going to read the whole thread as I don't spend enough time here to do so, but the title struck a chord with me. I do use TA. I also watch for news releases and evaluate before I jump in after an important news release. I mostly trade the EC, CL, NQ, and TA works for taking pieces out of the markets daily for me. For equities I do spend time researching more fundemental info before making decisions, but I do use TA to make my entries or sell options for entries. The title to me implies TA is worthless, but I can attest to the repeating of patterns. Like anything discipline is key and following your rules for set ups. Blind stupidity for a stochastic cross, or moving average cross, I agree, stupid, but incorporated with a disciplined strategy, is money in the bank. No I won't post my p and l here, but it works for me going on quite a few years now.
Still no takers. Just guys that are smarter than me. OK, here is how it works. Oily is looking at the 15m chart and thinks the spike is a killer when it is offering trade of the day. But you can't easily trade it off the 15m unless you have a lot of experience and I wouldn't on Oily's chart set up. This is how to follow the money and why tight stops are possible...