Ray 1,
I dont know if this system works or not in real time market and thats why I ask this guy to clarify his set ups, so I can test it and see it on my own. Maybe you are right that it cannot work, but dont say something cannot work if you have no idea what you are talking about!
I know few guys who for Morgan Stanley, JP and UBS, all have great financial bacground and seem very smart, however they know nothing about private real time trading, but are big up noses to actually say someone is much better trader than them. From what you wrote I guess you would be same, otherwise you couldnt say such stupidity that technicals dont work. Ive been trading 10 years, first couple years loosing big time, because I was stupid enough to listen and trust people working for JPs, MS, GS, etc. Ive been to countless conferences, seminars, bought hundreds books, listened anything related to markets and most of it was crap. Than I trusted people who learnt basic TA and went teaching newbies like I was.
In the end Ive realized how this game work, most of the people never get it, its not about TA, nor FA or any other analysis, its about what you have between your ears and what you trust and follow. I use technicals everyday, also sentiment indicators, volatility and probability. I love Market profile and volume studies for futures, because there you can see how Big guys trying very succesfully to take money from public.
So get back to your job and dont try to be smart in field where you have not much experiences.
|