Correct. It is pure gambling if you haven't learned how to trade yet. For instance, I don't use MACD, but if I were to start plotting MACD I could observe how it reacts IN THE CONTEXT of how I currently trade. There may be some type of correlation ...

Where is the EDGE in trading? The most important thing in trading!

Personally, I think the reason indicators/TA have gotten such a bad rap is because over the years since the invention of the PC....math-types have attempted to replace trading skills with TA (or an indicator). Back in the old days, the primary ...

Where is the EDGE in trading? The most important thing in trading!

Very wise post for only your 27th post. Risk-to-Reward ratio is a critical component to successful trading.

Where is the EDGE in trading? The most important thing in trading!

When the market is consolidating it can be mistaken as randomness to some traders. During consolidation, a big player may bet that it will be a bearish breakout, another will bet that it will be a bullish break. It looks random and unorganized, but ...

Where is the EDGE in trading? The most important thing in trading!

One says it learning another says it's discovering............I SAY IT'S BOTH!!!!!

The Art to Draw Correct Trendlines

If you actually take the time to stare at thousands of charts over a period of time you might see it. It's sorta like those 3D Stereograms where a picture is hidden within a picture; that can only be seen by intense staring. Most people wouldn't ...

The Art to Draw Correct Trendlines

A good example of how not to draw TLines. If you learn the proper way to draw these things, you will be rewarded. You have to think outside the box to see it.

The Art to Draw Correct Trendlines

Next week will be uncharted territory given the S&P downgrade of the US. I will watch the madness for a little while and strike when appropriate.

Where is the EDGE in trading? The most important thing in trading!

Yes, yes...like I mentioned before....I have been around this market for a good amount of time and I know what works. The problem is, or the hard part is, I don't know exactly WHEN my signal is gonna happen. I may see a signal at Sunday open...it ...

Where is the EDGE in trading? The most important thing in trading!

Very true.....drawing the correct trend line is very difficult.

The Art to Draw Correct Trendlines

I totally agree.

Where is the EDGE in trading? The most important thing in trading!

What aspect of trading do you consider to be hard?

Where is the EDGE in trading? The most important thing in trading!

Yes, I am referring to trade size. I have a set number of mini lots that I trade with on any given trade which I have gotten too comfortable with. My trade size is in accordance with my trading plan and my risk tolerance. Again, the whole mystery of ...

Where is the EDGE in trading? The most important thing in trading!

I agree that the learning curve is significantly steep and very few can withstand that barrier. But, I'm telling you; once you are able to get over that hump (developing a profitable trading system) your next biggest barrier is capturing maximum ...

Where is the EDGE in trading? The most important thing in trading!

The only thing I disagree with from the earlier post is when he referred to trading being hard: 1. Once you find a system that works, things get significantly easier. At around the five year mark, you should know a good set up when you see one. I ...

Where is the EDGE in trading? The most important thing in trading!

TA is like trying to land a plane in instrument-only mode without the benefit of an aerial view. When you are a pattern trader you have the best of both worlds.....you are flying using the benefit of the aerial view (i.e. patterns) and perhaps one ...

Where is the EDGE in trading? The most important thing in trading!

Good work Tea Party!

S&P Downgrades U.S. Debt Rating

The bottom line is.....if you can consistently beat the market over a long period of time.....you have an edge.

Where is the EDGE in trading? The most important thing in trading!

What do you have against MAs? Just curious.

Where is the EDGE in trading? The most important thing in trading!

A recurring pattern, that is only obvious to a select few (big money players), is an edge. This recurring pattern can definitely be based on TA or PA. But again, it if was obvious to most, it would not be an edge.

Where is the EDGE in trading? The most important thing in trading!