No, i'm not Implying it... I'M STATING IT AS A FACT
Understanding Anything, trumps Analysis of Anything.
you can analyze charts until the cows come home, HOWEVER, if you don't understand what it all means IT MEANS NOTHING.
now.. just in case there is some misunderstanding here
DO NOT INTERPRET THIS AS....
fundamental analysis trumps technical analysis. because i did not say that nor did i imply it, and if you took it that way, then YOU ASSUME IT
No... What i meant was....
UNDERSTAND THE INTENTION OF THE MARKET
so, instead of memorizing patterns and FIXED RESPONSES to those patterns
INSTEAD , based on the behaviour of the market.. UNDERSTAND THE INTENTION OF THE MARKET
now.. does understanding INTENTION, trump Technical Analysis... YES IT DOES... any day of the week.
as for this
of course they do, and can you blame them ?
When you have a newbie that doesn't know anything or many of them, you can charge them for information THAT THEY THINK IS GOOD, when it really is just basic information
which then brings me to this point
YES. it's MORE THAN GOOD ENOUGH
but, beyond babypips, you have to learn how to apply the knowledge you have learned
babypips will also teach you patterns and cheat sheets (take this with a grain of salt)
it's much more useful to watch the screens and LEARN HOW AN INSTRUMENT BEHAVES, so then when you apply technical analysis, IT GIVES A DEEPER AND MORE ACCURATE INSIGHT INTO WHAT THE INTENTION IS.
but as a general rule DO NOT EVER PAY FOR SOMEONE TO TEACH YOU PATTERNS, that's Naive.
I'm a guitarist
thats' like me saying to you , i'll charge you to teach you Scales and Chords and Nothing More
well. Learning Am Scale and C Major Chord is completely useless unless you know how to combine the chords into chord progressions, or a scale is useless unless you understand Chord Construction and how to use a scale to solo over a Chord
Knowing the Cheat sheet of ... this is Am and this is B and this is C and this is Fm7 etc....
Means nothing unless you know how to put it together
and in trading, Learning chart patterns means nothing unless YOU UNDERSTAND THE INTENTION OF THE MARKET when observing certain events
in babypips, you are taught, WHEN YOU SEE THIS...........................DO THIS
Sadly its' not as easy as that, this is not Binary Logic and it's not a computer that has a Truth Table, or... At least, it is a computer that you are trading with, but IT IS NOT USING THE TRUTH TABLE THAT YOU THINK IT'S USING.
it has a more complicated truth table with many more outcomes beyond....... THIS HAPPENS.............. SO DO THIS.
and because of that YOU NEED TO ADAPT TO A CHANGING MARKET, the Market is not Binary it's not Digital, it's not fixed, it is dynamic and keeps changing, so as to better Mess with your head hehe THIS IS THE TRUTH