DislikedThe debate of market randomness continues...... It's my belief that the market is random, but it's random with occasional Levy Flight! In other words the market moves in a random like fashon for a period of time, then moves in one direction for another period of time. I've come to find than some think that randomness is a series of ups and downs, it's not! Toss a coin 100 times and you'll get a lot of series of heads or tails, in fact as many as eleven at once, series of fives or sixes are quite common. But it doesnt really matter what you believe,...Ignored
What Rover said is exactly correct.
So the real question now becomes. How many retail traders know the TIME, PRICE LEVELS, and the DIRECTION of those nonrandom moves?
Looking at the facts it would indicate that only 5 to 10% (profitable traders) are good enough to figure this out on a consistent enough basis to make a living.
However, a statistical approach makes it so you do not have to get the TIME or the PRICE LEVELS correct because we already know the important ones.
You still do however have to get the direction right
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