Looking at the first chart, where would you draw the trendline? Would it look something like the trendline drawn in the second chart? That is how the books you read about technical analysis teach you and how majority of traders are plotting their charts. But why is it then that 95% of traders really lose money? Is it really psychology fully at fault or does it also have to do with the way we are taught to trade in the first place? Take a look the third picture, this is how the trendline is drawn by a trader with a decade of market experience. This was the first question my mentor ask me during our training session and needless to say I gave him the “by the books” trendline. He is helping me correct the flaws that he sees are hampering my trading as I am not consistent enough yet to become a profitable trader. So, tell me how do you draw your trendline? Or what approach are you taking that has gotten you on the profitable side? Let’s make this one a great thread!
- Joined Aug 2006 | Status: Member | 4,798 Posts
The Only Limit, is the One that you Set Yourself - Felix Baumgartner
- Joined Aug 2006 | Status: Member | 4,798 Posts
The Only Limit, is the One that you Set Yourself - Felix Baumgartner
- Joined Aug 2006 | Status: Member | 4,798 Posts
The Only Limit, is the One that you Set Yourself - Felix Baumgartner