Too often I listen to inexperienced traders over reacting, exaggerating and showing how over dependent they are on things like technical analysis. Too many engineers and people who think they can outsmart the market by trying to define everything it does with some over restrictive measure, indicator or data series. Much of the time, the objective of this pursuit is to arrive at some kind of indicator that will almost guarantee profits, or get you into a trade that will be correct 90% of the time. On top of that, this magical invention will allow traders to use stops just barely greater than the spread. So you spend days, months and years struggling to find this advantage. It must exist right? Read more [...]
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