DislikedThought for the day. So 95% retailers fail Map for failure What do retailers do? 1. Use indicators 2. Buy low, sell high 3. Sell at supply, buy at demand 4. Buy at demand, sell at supply 5. Believe support and resistance are barriers 6. Don't trade the news 7. 'Scalp' 8. Day trade 9. Draw lots and lots and lots and lots and lots of lines on charts 10. Spend every waking hour studying how to read PA 11. Follow a stupid risk model 12. Believe in the myth of tight stops and place them where they will get hit most of the time 13. Believe in the myth...Ignored
you make some valid points, but don't forget we all over estimate our own abilities.
You make a statement here about being long and short the same market and holding indefinitely, sure your short term trades of current supply and demand levels is a valid approach, but it will never come close to making the exponential profits I have seen from position trading using the approach you disagree with.
The key is knowing how to diversify your position to trade short, medium and long term all at the same time. So, don't fall into the trap of believing everything you feel, we all are almost never as good as we believe.
also... risk to reward myth, well you need to be more specific, but as you like trading based off what has happened in the past, according to past results, higher the risk reward ratio more profit, of course you need to move out of the box of 1/2 1/3 and look much more towards 1/10 1/20... but as you know, that's bast on something that may never happen again... uncertain and all that
good luck....
tradewith60