Yes, and as I can remember, I'm pretty sure I tried to make similar points to him. But maybe my power of persuasion wasn't good enough as I think he gave up trading. Sort of felt bad that I wasn't able to help him.
I don't use chopsticks Just joining in on the thread of posting personal opinions that do not help other traders.
What is much more difficult to help with are the psychological issues. We all have had to find ways to deal with than bucket of worms.
Right! Mine was breaking the habit of trying to find a way to trade every price movement under the sun. Took me a while to go from 10000 set ups in my plan to just 10!!
You just said a mouthful. Indicators don't "always work"... they have limitations. Once you get a handle on that, they're useful.
Thats the point Im trying to make. Trading decisions using indicators is just as random as trading decisions without indicators. Why introduce another level of complexity into the equation?
The "best/good" signals from indicators are not random at all. I could hand it to you, but not going to. (Wouldn't want you to be deprived if the glee in figuring it out for yourself. ) Many noobs/rookies get the notion, "buy oversold, sell overbought"... then complain when it doesn't work out just right for them. It's not that simple. (If it were, all of us would be rich rather than just the astute.)