[Archive!] FOREX - Trends, Forecasts & Consequences (Episode 12: February 2012) - page 731

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vladds:
You're wrong! Every experienced trader earns money because you have seen the rules in a huge pile of rules!

Exactly )))) What have I seen in them? You're obviously an amateur if you believe that. I just went through all this a long time ago. Nothing on forex works. Price will break through any level, against all the diverters and stuff if it needs to. I am not an authority for you, but Bill Williams - what about his words about the different analyses, that traders use -"they do not work in reality, and therefore are useless and even dangerous"? He's a pro, and came to the same conclusion as me.

 
MobileMan:
I think there was a 50/50 chance then and now) because there are two buttons to choose from (sell on the left and buy on the right). Besides, why aren't you a millionaire if you know the rules of the handicap? Yes, all these rules are nonsense. The price does not obey them!
Sometimes there is an illusion that it does not obey them. There's just something we don't know. All right, hang in there. That's a topic for another thread. There's a 50/50 chance within the spread. And most importantly, play with your own money.
 
By the way throw me a link where you can find out the quotes!
 
Williams himself introduced a number of mandatory trading rules. Very helpful, by the way.
 
MobileMan:

Exactly )))) What have I seen in them? You're obviously an amateur if you believe that. I just went through all this a long time ago. Nothing on forex works. Price will break through any level, against all the diverters and stuff if it needs to. I am not an authority for you, but Bill Williams - what about his words about the different analyses, that traders use -"they do not work in reality and therefore are useless and even dangerous"? He's a pro and has come to the same conclusion that I have

agree with me 100%. Just on Friday the pound demonstrated that. It broke the channel without stopping. And didn't even notice it.
 
MobileMan:

But Bill Williams - what about his words that the various analyses that traders use - "don't really work and are therefore useless and even dangerous"? He's a pro and has come to the same conclusion that I have

To refer to an authority is not an argument, especially if the authority has come to the same opinion as you )))) But at least it became clear to whom Williams owes his ideas ))))
 
May I continue my thought about the market. There are many traders in the world who know TA well, which is well described in all textbooks, and there are millions of them around the world. Suppose they all see a good buy or sell signal and enter the market. The result is overbought or oversold. All this happens up to a certain point (large infusions, news) and then the market starts to act against them. This is the line you need to catch, and the rest is all RULE IMHO.
 
fqbj:
May I continue my thought about the market. There are many traders in the world who know TA well, which is well described in all textbooks, and there are millions of them around the world. Suppose they all see a good buy or sell signal and enter the market. The result is overbought or oversold. All this happens up to a certain point (large infusions, news) and then the market starts to act against them. This is the line you need to catch, and the rest is all RULE IMHO.
And it also happens that they have entered by the signal and the market went in a completely different direction and they all go down on TA )) and all caught suckers ) but the TA trick is that this movement can then also be explained by another version of TA )))) That's why they keep believing in TA. By the way, have you noticed that usually everyone builds 2 versions of price movement, why would they? and then they always correct and redraw the charts )))) The answer is simple - because there are ALWAYS 2 options - either up or down )
 
MobileMan:
And it also happens that they entered on a signal and the market went in a completely different direction and they fucked up on TA ) and all the losers grabbed )) but the TA thing is that even this movement could then be explained by another version of TA )))) That's why they keep believing in TA.

In your example there could be unaccounted for news or interventions by big banks.
 
fqbj:

In your example, there could be unaccounted news or interventions by big banks.
Well, this is if we are talking about 5-20 pips, and if you open in a medium term - they do not affect, but in a medium term - you can not guess by TA
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