the trend is your friend, until it fucks you up in the end
pretty much sums it up.
Just remember that trading is a game against the masses. You want to trade the obvious, then you'll get obvious results.
Identifying a trend is imo a 50/50 outcome. Most people could do that very well. Moving averages is pretty much the only thing you need if you need some indicator.
But the issue is how well you ride that trade. People always prefer short and easy profit, rather than ride the long and sometimes painful trade to bigger profits.
That's what it all comes down to really, your profit taking ability within a trend.
pretty much sums it up.
Just remember that trading is a game against the masses. You want to trade the obvious, then you'll get obvious results.
Identifying a trend is imo a 50/50 outcome. Most people could do that very well. Moving averages is pretty much the only thing you need if you need some indicator.
But the issue is how well you ride that trade. People always prefer short and easy profit, rather than ride the long and sometimes painful trade to bigger profits.
That's what it all comes down to really, your profit taking ability within a trend.
(remember im a noob also so pls never play real money lol) All charts are being made right now. First chart daily, notice the fib retracement I drew from April to June. Price retraced, bumped it's head on the 78.6 fib. The 2nd chart is PA after we take a fib. over that rally that just ended at 78.6. See how price found support right at .50 and never went lower afterwards. Third chart is a 2hr chart in which I drew a fib over the 78.6->50.0 move along with all the other fibs we just used. See how price is approaching that 161.8 fib along with the 127.2 and 100. from before?
