Dislikedfrom post 4902
Hey, Not sure about most of what u just said but I will respond to what I can.
To say that you know which way the mkt is going, as if it is a certainty, is great if it works for you. But I personally feel that pumping that kind of hope into the minds of newer traders is a huge disservice. Maybe you know where the mkt is going all the time...maybe it is your money management that avails you that privilege, I'm not sure but I'm glad you are making $$. So maybe it is just my opinion that there are "no guarantees" in the mkt but...Ignored
To me is just a game of probabilities.What are the odds for mkt to go up or down.? Of course you can get clues about what mkt. is about to do from PA reaction on specific levels, S/R , fibs and many others.But to get to the point of being 100% accurate is just not realistic because as traders we depend on way to many factors to take in consideration. Every trade you take you have a risk of going against you.Sometimes is more, sometimes less but nobody so far came (as far as I know) with perfect set up.
In my opinion fibs(as someone I rely heavily on them) don't predict anything and I don't find anything magic at all.They are just tools which can help in your trading.They can be used in many different ways and you can get projection on where the mkt may go next but is no guarantee that will happened.Honestly the most important thing in trading I found out lately is PA.You know how to read PA, you have a big step forward in your trading career .I won't say anything about Skunny because I never actually interfere with him and ,since he is gone it wouldn't be fair, but I will tell you this.He was trained on 1 on 1 session by somebody who proved as a great trader and educator.What's in this thread has nothing to do with what he learned in private.