food for thought

i have read a lot of people bashing other traders if they use indicators, fibs, or other kind of analysis, PRICE action is king they say....

you will FAIL if you don't use S/R trend lines and PRICE ACTION.

i will disagree with all of you!!!!

i believe one needs to try out different things and use those tools that:

1 we are comfortable with
2 brings us consistent profits
3 minimizes our risks
4 we UNDERSTAND

the key factor here is dedication and willingness to learn. Psychology plays a big role i do agree, discipline does as well, UNDERSTANDING the market be it
researching fundamentals and technical analysis, or naked candle stick analysis.

if you understand how to use moving averages and it brings you consistent profits DO IT.
if good all fibonacci works for you, elliot wave, triangles, murrey math, indicators, pivot points, geometrical patterns, highs and lows, psych numbers,
parabollic SAR, adx,

if you are a swing, position, day trader or a combination. i believe its all good.

no i am not a PROFITABLE trader, NO, I do not possess all the answers, i began trading forex 1 month ago stocks 3 months ago.
but i do have at least a degree of understanding of the concepts and reasoning behind these analysis.

i WILL tell you something: if i stick to my strategy i trade succesfully
and no i dont want to hear your bashing because

YOU DONT KNOW WHAT THE MARKET WILL DO.
NO ONE KNOWS what the price will be. NOT warren buffet, not jesse livermore

i bet you anything NONE OF YOU KNOWS WHAT the price will be more than I DO. i know some of you have more experience, and are able to take trades
MORE INTELLIGENTLY, with HIGHER PROBABILITY than me.

and i do not think, that these MARKET MAKERS, know what the price of the currency will be either. WE CAN ALL BLAME or call for MANIPULATION, which does exists but even those manipulators lose money.

BOTTOM LINE is price action, is just as inacurate as everything else.
OR JUST AS ACCURATE if you KNOW HOW to use it.

http://www.investopedia.com/terms/p/price-action.asp

different attitudes toward trading study approaches
(not necessarily mine nor true) :

1. Yours is no better than anybody else's.
2. I've seen some great stuff doing what I do, so, once I get it together, you'll appreciate this. Meanwhile, I'll show you what I do have as I go along. Thus, it may (and does) fail a bunch of times.
3. I got it so my system runs great; it's imperfect, as any are, which I'm not going to tell you; and, I'll share how I got it and its philosophies, to, perhaps, help you fit your own system inside this.
4. My method is ordinary and the language I describe it in is advanced beyond most people's ability to understand it, so I'm not going to talk to you about it.
5. Hey, whatcha got? Gimme an EA of it!
6. My method is above ordinary because it borrows its method from those using information both prized and unavailable to most people; thus, people clamor toward me and talk unsubstantiated, overly basic gibberish.
7. Anyone can use my system, if they stick EXACTLY TO IT -- NO, that's not it! So what if you borrow from it: Begone, I tell you.
8. I'm too busy to include your improvement on my method, because I'm making consistent money from mine. Mine all fits, and consistent money is rare, and I help people who need to learn the basics, so There.
9. Hey, yes, the device (indicator, etc.) I created Is great, only I won't say so (or 'I will', flip a coin), because you're welcome. Just because I don't have anything to use it with and won't discuss this, doesn't matter: That's for the individual to decide. (Sniffs.)
10. Yes, there are a zillion other threads on this very subject, only this one is MINE. Where's a compiler when you need one?!

With all these and other ways to digest and use information that are available at this site, yours is reasonably even-handed.




KEY
yours; mine; some of the older crew that seem to make $ and don't have threads in Interactive Trading, TS or TD; computer/statistics language people, except Platform Tech, and thank you for them (when I can understand them) -- thus, found in Trading Discussion; rank, short-lived newbies, found anywhere there's "promise" (commercial or TS, I guess -- haven't seen one in a while); um, I don't want to get in trouble -- I will say it's popular in TD and has some threads in Trading Journals; lots of them in IT or TS; IT hyper-count thread leaders; Platform Tech, for which we are all grateful; any thread starter, and about as true as not

turing test failed! nice try

just kidding
but man you are a machine, your posts are like a puzzle, way above my head, interesting nonetheless

if you can make money using any method and rules, you already the best