dillan have a look at this...now nobody caan say this guy doesnt know what he is doing.....now D isnt it ironic u see the market as random...its because u trade randomness .....how priceless is that!
Quoted by jacko..
Anything under the 4H chart is "noise"... the smaller the time frame, the "noisier" it gets. What that means is that the rules of technical analysis plays less part in the trading. It is basically random...or put another way, you are gambling on a guess. The opposite expression is that "The longer the times, the stronger the lines"
I suggest that you do not listen to anyone who says that scalping and trading of anything less than 1H is profitable. Those types of traders are invariably aggressive and loud traders because they have usually lost their jobs and have just started trading to try to earn some money and are trying to tell you (and convince themselves) that they are successful.
I will let you in on some good advice. I have a friend who used to be an Executive at one of the large brokerage houses for many years. He has managed large teams of brokers. He has seen the trading results of literally thousands of traders. If a trader was consistently profitable, his staff would get the results and reverse engineer them to see how it worked. That is how him and I met. He now works and trades with me.
He has NEVER seen a scalper last more than 12 months as a fulltime trader. So when I read all the loud and aggressive traders here talk about how they are scalping their way to riches, I just have a quiet laugh with my friend.
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Quoted by jacko..
Anything under the 4H chart is "noise"... the smaller the time frame, the "noisier" it gets. What that means is that the rules of technical analysis plays less part in the trading. It is basically random...or put another way, you are gambling on a guess. The opposite expression is that "The longer the times, the stronger the lines"
I suggest that you do not listen to anyone who says that scalping and trading of anything less than 1H is profitable. Those types of traders are invariably aggressive and loud traders because they have usually lost their jobs and have just started trading to try to earn some money and are trying to tell you (and convince themselves) that they are successful.
I will let you in on some good advice. I have a friend who used to be an Executive at one of the large brokerage houses for many years. He has managed large teams of brokers. He has seen the trading results of literally thousands of traders. If a trader was consistently profitable, his staff would get the results and reverse engineer them to see how it worked. That is how him and I met. He now works and trades with me.
He has NEVER seen a scalper last more than 12 months as a fulltime trader. So when I read all the loud and aggressive traders here talk about how they are scalping their way to riches, I just have a quiet laugh with my friend.
..