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nwinski wrote:
> 1. Trading based on fundamentals uusally puts you at least two steps
> behind the market.
> 2. Trading based on conventional technical anaylsis usually puts you
> at least one step behind the market.
> 3. During my 30 years of market studies, I have found that only
> cycles, Astrology, or Fibonacci time-price analysis, offer any potential
> for allowing one to make profitable trading decisions coincidental with
> or in advance of market action.
> 4. Never "give up". A trader's challenge is to adapt or die. The
> dinosaurs failed to adapt and gave up. Seen any dinsaurs alive lately?
>
> Adaptively,
>
> Norman
Norman,
While I completely agree to #1,2,4 - I take exception to #3.
I have been on a exchange floor for about 11 years and have been lucky
enough to have worked beside litterally hundreds of traders(actual guys
including myself that make a living on trading profits, no sales
commisions,salaries for advising or market letters and programs - just
trading.). I've seen many come and go, but most of those I've known to
use the methods you outlined never survived as traders as per my
definition above. But, I have heard of some who have and there appears
to be some on RT. I think it probably works very well for you just as my
simple support resistance pivots work for me.
The best advice we can give any new trader is to read up on many methods
and try to find something that sits well with them.
Rob:)
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