Technical analysis - A scam for beginners? - page 30
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You can only see trends in history? ;)
ZS: Oh, the topicstarter showed up prematurely, well, thanks for the sps :)
If the topic is ready to spend some time on his topic, I will try to return to a constructive conversation about TA, and set out my vision of TA a bit
Why does TA only work on history?
Well, let's start with the fact that mostly traders (or beginners calling themselves traders) trying to grasp the essence of Elliott Waves, and seeing the phrase that waves can only be seen with a lot of experience, and do not hope to trade on them immediately...... begin to trade according to two schemes:
- trends;
- by levels;
Trends: trends are really only visible on history, when it starts and when it ends nobody knows, even super-wizard mathematical models and indicators
levels: levels exist, but alas, no one knows what is behind the levels - the current liquidity of the currency or major players like governments, etc. - i.e. at some levels there are real buyers waiting for their price
the conclusion - nothing works, but at the same time, I should say that there are no trends, BUT there are pullbacks - small reversals after a strong and sharp movement
Levels have not been studied yet, but I'm sure levels do not depend on fibs - if you try hard and stretch, scale and TFs can be changed - .... ;)
There is one more secret (probably Jedi )) How strong and long is this momentum?
I have some strategy with levels and trends. I'll share the insights if you like. I have become disillusioned with waves too.
I have some strategy with levels and trends. I'll share the insights if you like. I have become disillusioned with waves too.
Share, maybe disappointed in the rest ;)
Erm... I'm a little shocked. Such a gorgeous blonde - and she hangs out on a tough guy forum and writes nerve-wracking stuff as well... Yeah...
And the second reason, moderator's, is simple: I was a little drunk on Halloween day and gave out elephants, remember? There's one standard indulgence for the first ten forumers who'll open their face and save it in their avatar. You too, you're third. It's not much, of course, but whatever the resource, that's what we trade...
Lately I've started building a trend line only by candlesticks. That is, by the shadows of two candles in one direction. The next one is a breakdown of the trend line or move past the maximum/maximum of the second one. The level is situated on М5 no matter on what scale the main thing is the highest/lowest value of the candle's body. The breakout, respectively, means the closing of the candle below/above the level on М5. This is the general idea.
alright, I'm disappointed...
what did you think?
When the market moves strongly, it works like clockwork, but waiting for the market to move, the spread is too tight - the real scalper is not a scalper, his profit from 30 to 140 pips - works in both directions on the M5
I can calm down a little - there is one more seeeeeeeeeeeeee secret trick - Prival wrote about it more than once - combinations of Renko and custom TFs. I work in this direction and there is a clue in the form of constant correlations between currencies, although on the standard TF you get tired of waiting and searching for these correlations on different TFs
picture please
Erm... I'm a little shocked. Such a gorgeous blonde - and she hangs out on a tough man's forum and also writes nerve-wracking stuff... Yeah...
And the second reason, moderator's, is simple: I was a little drunk on Halloween day and gave out elephants, remember? There's one standard indulgence for the first ten forumers who'll open their face and save it in their avatar. You too, you're third. It's not much, of course, but whatever the resource, that's what we're trading...