Originally Posted by
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In case your always losing, it is not because you're a poor trader, it's because you're taking bad trades. You only have 2 posts, so I can not too deeply examine what you're doing, but my guess is that you're doing everything that everybody says you should. The problem is that you're taking it too literally.
For the most part technical analysis and the probability distribution shit it's built off of is of zero importance in making money. Have you ever thought about why floor traders can pull money out of the market each and every day while the top technicians are heroes when they reach 60%? It is because the market is not moved by technical patterns, it's moved by order flow.
Lt;ogt;lt;/ogt;Once you find a standard technical pattern form, you take your trades with the expectation which the odds is on your side for it to perform as described. Being the diligent and disciplined trader you place your stops at the specific point where the transaction should neglect. Unfortunately you just opened your wallet and handed me your money. Was it because you didn't understand sufficient technical analysis? Was there any fundamental news that happened to transfer price against you? No, you got smoked because you don't understand the pattern was constructed to trap you and take your money.
Lt;ogt;lt;/ogt;You have been playing the game for 6 months and if you've researched as much as you say that you have, then you already know just as much technical and fundamental information as you will ever require. What you lack is an eduion concerning the market information that does not show up on the chart; Sentimentnews, economics/politics, and most significant of order flow. Pick up a news client for forexwatch and begin watching the financial news channels. Start analyzing exactly what the market is thinking and how that impacts prices. Try to find where theâ€actual†support and resistance levels are and why they exist. Combine that with all the core technical fundamentals on longer term charts and you'll earn more money then you ever dreamed of.
Lt;ogt;lt;/ogt;The game is not that difficult. What's difficult is moving past the rigid structure you try to inflict the market. It is not a mathematical mystery to be solved along with even a science of price movement. Never forget that you are speculator looking for an opportunity to capitalize on the mispricing of securities. If you can not do that, you're not a trader; you're a gambler in a negative expectation game of chance.
Lt;ogt;lt;/ogt;
Good fortune.
Lt;ogt;lt;/ogt;
PS- Do not ask me to train you. Teaching is another mans racket. I only point the way.