Obviously, there is no free money. I'll counter this argument with asking you why not every student in school is a top student? After all - the resources are equally available to everyone? Just because everyone have access to the same information does not mean they process / utilize it the same way. I bet it's common in trading firms too that certain traders outperform the rest - even if they have the same resources at hand.
I'm not going to be able to convince Mr. M that I trade just using charts. I agree that my experience helps because I have looked at a lot of charts over the years. A good part of my success I attribute to risk control, money management and keeping things simple. What ever info I see when I look at a chart, whether it is subliminal or not, is what I use to make decisions on whether I should buy or sell. Saying that I'm using information I don't know that I'm using doesn't make any sense. Somehow or another that information filters through to my brain through the visual information on the chart.
%% OK; hard to believe anyone ''just uses charts'' Stock symbols change + energy stocks/ sector never moves like tech sector/tech stocks/ETFs. RICh Dennis reportedly said if the system doesnt work in bonds + beans we dont use it '' OK, BUT someone had to look up the difference between bonds + beans,@ least once\ not in either today.
Which one of these guys do you think spends a lot of time looking at a fucking stock chart? Warren Buffet John Paulson Carl Icahn Jim Simmons Ray Dalio Ken Griffin Steve Cohen David Tepper George Soros etc, etc... Maybe you need to be looking at something else.
Not same domain. They are McDonald's we claim to be personal cheff. We deal with food in different aspects.
I think they do look at charts, at least as trend/sentiment indicator. What do you base your trading decisions on?
They probably hire someone to do their research for them. Maybe even call up the CEO of the companies. I can't afford to do that and I can't get past the switch board. Mind you I'm not good enough to play on the PGA tour but I manage to take a few dollars off my friends playing golf. Gotta take advantage of whatever opportunities the market presents.
thanks for replies yall Found one issue I was starting from the one minute chart to make a decision to trade. then look at bigger timelines for confirmation but it seems like most of people actually do the opposite. i get stuck in downtrends alot because im not very good at spotting trend change on minute/5 minute charts. Im not reacting to immediate trend changes because i dont see the pattern breaks or reversals Clearly yet Only recently started to spot the top reversals consistently. But i get stuck in fakeouts and especially stop loss hunts. close to 80% of my past trades i entered where i thought was the bottom turns out it was a small bump and continued downtrend. And about same number of trades i would sell right before a massive uptrend because i thought it was starting consolidation or downtrend when it was just a small dip and back up both were consistent enough for me to notice. So im trying to figure out what else i need to adjust in the way i look at the entry and exit signals I belive the immediate action on candlestick chart is what im having problems with.. like when i watch videos the traders are able to explain what each candle means individually and whats the most likely outcome. im explaining the best i can