I agree. the reasons are not irrevlant. do it is critical. when we drive a car,we donot ask why the car does the move, we drive it, we are drivers. happy trading! sad analyst!
But, professional drivers must have some (MAGIC) secret that helps them predict where the car will go more accurately than amateur drivers. I read one fellow's post on the urinal and he hinted that there are secret ways of being one with the car but he won't tell me exactly how. So my question is, which is more important - the engine or the steering wheel? When should you accelerate, when should you brake? There are dozens of ways of trading other than fundamentals and TA or price action. That fact alone should tell you that none of those are critical. Your trading will improve immensely when you put down the hunt for MAGIC - magic guru, magic method, magic secret, magic computer, magic easy system, magic etc etc Sorry to tell you the awful truth - THERE IS NO MAGIC! So don't waste your time hunting for it. Think on this for a while: suppose you alone secretly found a (magic) method that could predict 98% accurately the price 5 minutes into the future. How efficient would that market be? What would begin to happen? Then play with the numbers a bit and draw some more conclusions. If someone here could insure (MAGIC?) one price 5 minutes out, one could retire with a single trade. How likely is that to occur within your lifetime?
Sounds like the kind of edge surf is so fond of speaking of which I would not be frowned upon for saying is well out of the retail traders reach. Put someone in front of a phone, no charts no news no fundamentals, what can they possible be trading with? But it does sound good to throw around on boards..
I've met millionaire traders who use TA as one of their methods. The most successful traders I've met use a combination of statistics, TA and fundamental analysis.
its called advanced math Higher education is required. With higher education, a trader will not begin their trading career at home, but work in a trading firm. TA and price action trading methods are killing small traders because they are lower educated. Geez, small trades did not invent HFT, it was the mathematicians. with the trading formula (TA and price action) becomes outdated (no longer works), sell them to small traders. TA and price action are responsible of more than 90% small traders losing. But, don't need to believe me and keep reloading your accounts. Reload! More than 90% of small traders lose! They just lose!
thank you for your clarification. We can agree to dissagree. For me, prediction is not possible. This means I do not build systems to predict. My alternative is to "always know I know" in the Present. As bighog says, we all trade in the Present and that is where we make decisions and do timely action. Action (no guess work is involved) must be taken on every bar at and after the bar "locks-in". The most common action is to "hold".
Anything Works! As long as you discovered and incubated and developed an edge on your own. Most people don't have the focus, drive, motivation and self discipline to do the work to become successful at trading. If you worked tirelessly to backtest your edge, you'll become profitable. oh yeah! your beliefs of what you are seeing in front of you on the chart is fairly important as well.
Is insider info considered fundamental analysis? I would have expected some underpaid, overworked consultant to leak this by now. Drive a stick. Or buy a Hummer.