Your opinion only. I and many prove your statement false on a regular basis. I have a TE that I recently started. It's not much but I assure you it will only grow and it will do so using only technical analysis. I use mostly median lines and price ...

The brutal truth of day trading

Sorry to disagree more. Just because one doesn't understand price movement on a particular time frame (LTF) does not mean it is random. I also trade futures with tick charts. At market open price often moves very quickly. Even on a 777 tick ES ...

The brutal truth of day trading

Couldn't disagree with you more. Other than avoiding trading during NFP and FOMC I ignore fundamentals completely. I trade completely by technical analysis. To state this is just gambling and will lose money is a false statement.

The brutal truth of day trading

I said nothing regarding the expectation of any kind of results because the conversation did not relate to that. However, I'll entertain the comment. "Trading for a living" does not require one to pursue 10,15,20 or 25 trades per day. Certainly one ...

The brutal truth of day trading

What is the same is that we both opened at 1.2000 and closed at 1.2500. Everything else would have been different such as: 1. The reason for entry. 2. The reason for exit. . 3. The strategy that allowed you to stay in a trade on an M1 chart from ...

The brutal truth of day trading

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(binned per thread starter’s request) Powerful is the Fork

I trade the H1. Trading an H1 chart does not produce frequent reliable setups. It does however produce infrequent quite reliable setups. Of course reliability is related to one's method. The H1 chart does not require one to sit in front of a ...

The brutal truth of day trading

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Price is everything

Hello Greenspanke, I try to draw in MLs that are in line with the trend or given clues about what might be happening with the trend. In this case the red ML is congruent with the downtrend so its projection remains valid with the target being ...

(binned per thread starter’s request) Powerful is the Fork

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Price is everything

Seems you've found the wrong forum. Maybe you need to visit an investing forum. This is a trading forum for all of us trading suckers.

The brutal truth of day trading

In the chart below I've drawn a blue ML using the last corrective swing. So far price has not met the projection which is blue A to B projects blue C to D. Even though price has violated the upper ML it does not negate the blue ML as many might ...

Andrews Pitchfork (Median Line)

Hello K, Your parallels seemed quite curved fit and lend a false impression of diagonal support/resistance. As you know I tend to reject the notion of diagonal support and resistance and really have yet to see someone trade it profitably. Most are ...

Andrews Pitchfork (Median Line)

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(binned per thread starter’s request) Powerful is the Fork

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(binned per thread starter’s request) Powerful is the Fork

EURUSD 60 min First chart shows a standard ML drawn using the impulsive leg. Second chart shows a modified Schiff ML drawn using the impulse leg. Both project price. Projection is the primary purpose of median lines...not diagonal support and ...

(binned per thread starter’s request) Powerful is the Fork

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EURUSD

GBPUSD 60 min This pair has been trending down. Impulses are to down side so downtrend. Forecast is down. The blue ML although pointing up does not suggest direction but rather projection. It is a corrective ML and thus projects the current ...

Andrews Pitchfork (Median Line)

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(binned per thread starter’s request) Powerful is the Fork

I have spend countless hours backtesting the various strategies I have used and use now. It's why I dismiss indicators for the most part and rely completely on price action and market structure. Backtesting is just a way that I "practice". I don't ...

The brutal truth of day trading