Ok, so if some people have long-term consistent success, than technical analysis isn't a fallacy. It's something that can be understood. That's all I was saying. If it was a fallacy, not a single person of mortal intelligence could reliably make ...

Technical Analysis Fallacy

That's where actually reading and understanding the article comes into play. It said "Wall Street banks lost $74billion". It never said what banks lost money. Goldman wasn't one of those banks who lost money. It then mentioned Goldman Sachs as an ...

Govt Economic releases are worthless

There are some people who consistently make money and do this for a living. Therefore, technical analysis can't be a fallacy. They don't control the market, therefore the only other possibility is that they understand it. You won't win every time ...

Technical Analysis Fallacy

Price action is useful, especially when it's used in conjunction with elasticity.

Perplexed - year spent looking for system

In addition: what kind of legitimate source is a journalist with the star telegram? His claim to fame is car reviews. He just happens to do business journalism as well. The reason I point that out is that he is intentionally misleading. I will use ...

Govt Economic releases are worthless

Seems unnecessarily bitter. Goldman Sachs is one of the most accurate names in the business. Remember, they correctly bet and profited from the subprime mess and accurately predicted the $100 per barrel of oil back in 2005, as was pointed out ...

Govt Economic releases are worthless

I'm sure the premise is accurate. That is, most people lose money and brokers intentionally tout the technique to make profit off of uneducated and gullible people with money. However, I don't agree with the "zero sum" aspect of it. That's simply ...

Forex Scam

I've only been burned once doing this, but that was when I was aiming for long term trending. I'm not good at following trends, but I seem to be very good at short price movements and... literally... scalping the pip out of irrational short term ...

Scalping the pip out of it

I actually use the minute time frame almost exclusively. I bump it up to 15 or 30 minutes just to see the general trends of the evening. But I would assume that in order to scalp aka take short term gains, a lot of the long-term information would be ...

Scalping the pip out of it

I take a few things into account. General trends for the last few days using a 15-30 minute chart, other currencies (i.e. if USD is going down in one basket significantly by staying the same in all others), but mostly I look for big noticeable ...

Scalping the pip out of it

Right now I look for irrational movements in periods of time when the currency is sleeping aka when the markets are closed. There should be no news that seriously impacts USD or EUR at 9pm EST. So I look for sudden big swings and bet that they will ...

Scalping the pip out of it

Anyone else exclusively scalp currencies late at night when the markets are closed? I live around NY. I scalp from 7:30-12:00am. I focus on the big four and rarely mix it up with the currencies who's spreads are above 4-6. Here is my philosophy, and ...

Scalping the pip out of it