{quote} Not sure that I understand your question. Surely every individual trader's knowledge and experience is different. Or do you mean something else?
Ignored
You didn't understand because my english is terrible, def not your fault, anyway...
the market has many players in it, I guess most of them are trading at firms, and if I read right, these firms have more info about the market than the individual trader could get. I don't know the details so I can't tell, but I read it somewhere...Also spread and commission are better for the firms, so the individual trader is fighting and uphill battle.
In order to devise a good strategy you have to understand what you are doing, so you should have more information than other traders (since this is a zero sum game), so if firms have an informational advantage, what's your edge?
{quote} You didn't understand because my english is terrible, def not your fault, anyway... the market has many players in it, I guess most of them are trading at firms, and if I read right, these firms have more info about the market than the individual trader could get. I don't know the details so I can't tell, but I read it somewhere...Also spread and commission are better for the firms, so the individual trader is fighting and uphill battle. In order to devise a good strategy you have to understand what you are doing, so you should have more...
Ignored
Hi 4star,
And welcome to FF. I read your other posts and for some reason they remind me of myself 3 years ago. I simply don't want you wasting years looking for the Holy Grail of Information, it is a complete road to misery. Accept the fact that you are not smarter, we don't have access to World Banks or Hedge Funds. The ONLY thing we have are the charts.
Our edge is Probability. Does a casino NEED to know WHY a 7 is more likely to happen? Or will they make money just because it does? The casino isn't gambling, it knows it is going to win more times than it loses. That's us.
I am not going to give you all the answers. Chart time is necessary. Open a demo account, watch the charts for a year, and find out WHAT they do, not WHY they do it.
{quote} Hi 4star, And welcome to FF. I read your other posts and for some reason they remind me of myself 3 years ago. I simply don't want you wasting years looking for the Holy Grail of Information, it is a complete road to misery. Accept the fact that you are not smarter, we don't have access to World Banks or Hedge Funds. The ONLY thing we have are the charts. Our edge is Probability. Does a casino NEED to know WHY a 7 is more likely to happen? Or will they make money just because it does? The casino isn't gambling, it knows it is going to win...
anyway...
If screentime is only what is needed to be a successful trader, it doesn't explain why strategy stop to work... if you are watching the chart over and over again you would recognize some patterns, that's certain, but what does guarantee you that what you saw from the chart is a reliable pattern? Maybe a year that pattern that you recognize as profitable was just luck...
I don't know if I'm explaning myself correctly... but IMO, you should have something more than screentime... also, if only screentime is needed, you can simply code an EA once you found a pattern, then you'll become millionarie in a few years, obv that's not going to happen...
Certainly my thought process is wrong, so plz correct me
{quote} Not sure that I understand your question. Surely every individual trader's knowledge and experience is different. Or do you mean something else?
Ignored
Thanks for responding to Hanover's query, I had to admit I was going to post a second clarification query..either way, yes, big firms, the big guys do have access to better information, premium news feeds and the like. As an Individual spot trader, we are left to grunge the trading floor for scraps..but we do get access to the same info, a tad later..and as for being able to trade profitably, it depends on how we use this info..
