Threads like this are fun, but unfortunately, of little value. You have a person that states matter-of-factly: " XXXX trading style will not ever worK!!".... even though there are successful traders using that very method. Then comes the sematics arguments of what is TA or Price Action or fundamentals. It is no wonder new traders come to a forum to learn new ideas and leave pretty confused. And it is no wonder that most successful traders hardly ever come here to participate.
I firmly believe that Ego gets in the way of most people using this forum to becoming better traders. People typically have a high opinion of thier abilities, as well they should. But too often, that causes the "If I can't do it, no one can!!" syndrom. I think that if people humbled themselves more and looked at it as what works for them rather than talking in absolutes, they would probably be able to glean a little something every now and again to help them become more successful.
As I have mentioned in other posts, I trade short term with a goal of at least 10 pips profit. I use EMAs, Bollinger Bands, RSI and a couple of other indicators on my charts. I use them to give me a picture so that I can predict (I know people don't like that term) the short term direction of the stocks, indexes and currency pairs. You can call it TA, of chart reading or pattern recognition or whatever you chose, it matters not to me. What does matter to me is that it consistently makes me money (at least the last 5-6 years with forex). I have shown people statements only to have them say it was Photoshopped. I have shown them screen shots of my trades, even screen shots of my account, and they say it was faked. 70 trades without a loss, followed by 2-3 losses, then another run of 50+ is "just luck". Consistent, for some reason, is ALWAYS longer than you can show. These are the reasons more live account statements aren't shown, it just isn't worth the effort!!
Bottom line is, I gave up trying to convince people that how I was trading worked, and worked well, and worked consistently. Just because someone says my methods will not work does not stop me from making money. I will never meet majority of anyone on this forum in real life, so why put in the effort to change the mind of someone I don't know?
Is my way is the only way to trade? Certainly not, it just happens to work for me. A couple of guys I trade with use totally different methods and they are successful, too. I tried one of the ways on a demo and couldn't make it work, but the guy continues to pull in hundreds per day. But I don't tell him that his way doesn't work....because it obviously is, even though I couldn't make it work for me. There are many, many people out there making money doing different things, so to say only one way works really just shows a trader's immaturity (not the person's).
If people remained open to new ideas, and used this forum to share information and experience (not necessarily systems or methods), I think there would be many more successful traders out there.
Just my 2 pips.....
I firmly believe that Ego gets in the way of most people using this forum to becoming better traders. People typically have a high opinion of thier abilities, as well they should. But too often, that causes the "If I can't do it, no one can!!" syndrom. I think that if people humbled themselves more and looked at it as what works for them rather than talking in absolutes, they would probably be able to glean a little something every now and again to help them become more successful.
As I have mentioned in other posts, I trade short term with a goal of at least 10 pips profit. I use EMAs, Bollinger Bands, RSI and a couple of other indicators on my charts. I use them to give me a picture so that I can predict (I know people don't like that term) the short term direction of the stocks, indexes and currency pairs. You can call it TA, of chart reading or pattern recognition or whatever you chose, it matters not to me. What does matter to me is that it consistently makes me money (at least the last 5-6 years with forex). I have shown people statements only to have them say it was Photoshopped. I have shown them screen shots of my trades, even screen shots of my account, and they say it was faked. 70 trades without a loss, followed by 2-3 losses, then another run of 50+ is "just luck". Consistent, for some reason, is ALWAYS longer than you can show. These are the reasons more live account statements aren't shown, it just isn't worth the effort!!
Bottom line is, I gave up trying to convince people that how I was trading worked, and worked well, and worked consistently. Just because someone says my methods will not work does not stop me from making money. I will never meet majority of anyone on this forum in real life, so why put in the effort to change the mind of someone I don't know?
Is my way is the only way to trade? Certainly not, it just happens to work for me. A couple of guys I trade with use totally different methods and they are successful, too. I tried one of the ways on a demo and couldn't make it work, but the guy continues to pull in hundreds per day. But I don't tell him that his way doesn't work....because it obviously is, even though I couldn't make it work for me. There are many, many people out there making money doing different things, so to say only one way works really just shows a trader's immaturity (not the person's).
If people remained open to new ideas, and used this forum to share information and experience (not necessarily systems or methods), I think there would be many more successful traders out there.
Just my 2 pips.....