IMV, trading for "one pip" is NOT proper TA, regardless. Roulette is GAMBLING... has nothing in common with proper TA.
I am not proposing one pip trading or roulette. The key point is the chart data (price) that you look at everyday is actually no different than those data generate by random generator or even roulette (which is completely random system). Go for it if you still think you can make money by looking at those chart using your TA. Non of the institutional able to make sole TA profitable even with their ample resources, but may be ET are different ?
There a lot of big mistakes you can make. The biggest is letting a loss get away from you. A small loss is annoying but doesn't do real damage to your account equity. If you let the loss get too big, then it becomes very hard to cut the position because it is a big hit. As a result, you rationalize hanging on. I can guarantee that nine times out of ten, you will eventually sell out at the low of the move, whatever time frame you're playing in. The problem with fundamental analysis and value investing in general, is that the more a stock goes down, the more attractive it is, and thus the harder it is to take the loss. Plus, if you have done extensive fundamental analysis, your ego is invested along wiht your money and human nature is to hang in there and prove those other idiots how wrong they are and how smart you are.
This is wrong on several levels. Much price action is random but not all. Certain levels attract buyers/sellers, as do certain chart patterns.
You're wrong. Much of the market's gyrations are just noise. Some of it is not. Figuring out that which is NOT random is what proper TA is all about.
This is a free country and we all are free to chase your own dream. I make a good life with my trading & investing as I am lucky enough to be in the right place that I learned the real knowledge when I was young. Those "real" knowledge (sorry to say TA is not one of them) serve me well until today and I can afford a very comfort life here without any boss, Ya, AZ is definitely much better place to live than in NYC especially in winter, although I did miss the walk in central park and all the hot chic* there If you do believe TA will bring you real edge and good living then go for it. All the best.