i have read a lot of people bashing other traders if they use indicators, fibs, or other kind of analysis, PRICE action is king they say....
you will FAIL if you don't use S/R trend lines and PRICE ACTION.
i will disagree with all of you!!!!
i believe one needs to try out different things and use those tools that:
1 we are comfortable with
2 brings us consistent profits
3 minimizes our risks
4 we UNDERSTAND
the key factor here is dedication and willingness to learn. Psychology plays a big role i do agree, discipline does as well, UNDERSTANDING the market be it
researching fundamentals and technical analysis, or naked candle stick analysis.
if you understand how to use moving averages and it brings you consistent profits DO IT.
if good all fibonacci works for you, elliot wave, triangles, murrey math, indicators, pivot points, geometrical patterns, highs and lows, psych numbers,
parabollic SAR, adx,
if you are a swing, position, day trader or a combination. i believe its all good.
no i am not a PROFITABLE trader, NO, I do not possess all the answers, i began trading forex 1 month ago stocks 3 months ago.
but i do have at least a degree of understanding of the concepts and reasoning behind these analysis.
i WILL tell you something: if i stick to my strategy i trade succesfully
and no i dont want to hear your bashing because
YOU DONT KNOW WHAT THE MARKET WILL DO.
NO ONE KNOWS what the price will be. NOT warren buffet, not jesse livermore
i bet you anything NONE OF YOU KNOWS WHAT the price will be more than I DO. i know some of you have more experience, and are able to take trades
MORE INTELLIGENTLY, with HIGHER PROBABILITY than me.
and i do not think, that these MARKET MAKERS, know what the price of the currency will be either. WE CAN ALL BLAME or call for MANIPULATION, which does exists but even those manipulators lose money.
BOTTOM LINE is price action, is just as inacurate as everything else.
OR JUST AS ACCURATE if you KNOW HOW to use it.
you will FAIL if you don't use S/R trend lines and PRICE ACTION.
i will disagree with all of you!!!!
i believe one needs to try out different things and use those tools that:
1 we are comfortable with
2 brings us consistent profits
3 minimizes our risks
4 we UNDERSTAND
the key factor here is dedication and willingness to learn. Psychology plays a big role i do agree, discipline does as well, UNDERSTANDING the market be it
researching fundamentals and technical analysis, or naked candle stick analysis.
if you understand how to use moving averages and it brings you consistent profits DO IT.
if good all fibonacci works for you, elliot wave, triangles, murrey math, indicators, pivot points, geometrical patterns, highs and lows, psych numbers,
parabollic SAR, adx,
if you are a swing, position, day trader or a combination. i believe its all good.
no i am not a PROFITABLE trader, NO, I do not possess all the answers, i began trading forex 1 month ago stocks 3 months ago.
but i do have at least a degree of understanding of the concepts and reasoning behind these analysis.
i WILL tell you something: if i stick to my strategy i trade succesfully
and no i dont want to hear your bashing because
YOU DONT KNOW WHAT THE MARKET WILL DO.
NO ONE KNOWS what the price will be. NOT warren buffet, not jesse livermore
i bet you anything NONE OF YOU KNOWS WHAT the price will be more than I DO. i know some of you have more experience, and are able to take trades
MORE INTELLIGENTLY, with HIGHER PROBABILITY than me.
and i do not think, that these MARKET MAKERS, know what the price of the currency will be either. WE CAN ALL BLAME or call for MANIPULATION, which does exists but even those manipulators lose money.
BOTTOM LINE is price action, is just as inacurate as everything else.
OR JUST AS ACCURATE if you KNOW HOW to use it.
AVT INVENIAM VIAM AVT FACIAM