Hello, does anyone else here primarily trade based on “visualizing” patterns in the quotes and purchasing when support seems strong or at the lower part of a range, or shorting at the higher part of a range? I seem to have had great success with this. My approach mainly involves fundamental analysis (I study what the central banks do), and the patterns serve as a guide for entry and exit. My technical analysis is based mainly on support and resistance. On both practice and real accounts I have a tendency to win, and am profitable right now in my first month doing it for real.
I really don’t get how 90 percent or more of traders can lose at this. And I do not even yet understand in detail most of technical analysis. Maybe I have just gotten really lucky, but so far the probability of someone winning as consistently as I have in the first month through almost purely random guesses seems to be almost nil.
I will continue with the Babypips course and eventually get deeper into technical analysis, but so far I seem to have a solid strategy putting me ahead of the game. Could the so-called difficulty of forex be merely hype?