Using Technical Analysis for buying or selling decisions is a proven approach to trading. But it's not guaranteed to work all the time!
There are times when the charts are screaming at the analyst to move in a certain direction. He has seen the winning 'pattern' time and time again. It has worked out beautifully before. Why wouldn't it work out now, he thinks? He follows the signal. It's looking good so far. But then things change, and he suddenly realizes he has been duped.
One thing that disturbs me about this forum is there are people here who act like they had it all figured out 'after the fact'. When they catch big moves during highly volatile market conditions, they are quick to brag about it. But it is more likely their 'catch' had less to do with skill and more to do with luck.
If you look at the trading history of these traders at the end of the year, I am almost certain they will have more losers than winners.
I'm sure some of these folks are very good at managing their money. So even though they have more losers than winners, they still end up ahead at the end of the year. But it's my guess that isn't the case for most traders. But they know how to put on a good show when it comes to displaying their winners! They are experts at bragging!
Nobody really knows when the Market Makers are going to do a bait and switch on retail. It happens. And I don't think there is a trader out there who doesn't get drawn into their traps from time to time. Don't be deceived by braggers.
There are times when the charts are screaming at the analyst to move in a certain direction. He has seen the winning 'pattern' time and time again. It has worked out beautifully before. Why wouldn't it work out now, he thinks? He follows the signal. It's looking good so far. But then things change, and he suddenly realizes he has been duped.
One thing that disturbs me about this forum is there are people here who act like they had it all figured out 'after the fact'. When they catch big moves during highly volatile market conditions, they are quick to brag about it. But it is more likely their 'catch' had less to do with skill and more to do with luck.
If you look at the trading history of these traders at the end of the year, I am almost certain they will have more losers than winners.
I'm sure some of these folks are very good at managing their money. So even though they have more losers than winners, they still end up ahead at the end of the year. But it's my guess that isn't the case for most traders. But they know how to put on a good show when it comes to displaying their winners! They are experts at bragging!
Nobody really knows when the Market Makers are going to do a bait and switch on retail. It happens. And I don't think there is a trader out there who doesn't get drawn into their traps from time to time. Don't be deceived by braggers.
Learn from your mistakes and march on.
