1/ This is a game of the professionals vs the noobies and it is the noobies who are the losers.
[B]Isn’t it just a game of good trading vs bad trading? Bad traders lose?
Forex is moved by fundamentals long term. Why would the professionals be picking on noobies?[/B]
2/ No 1 strategy will work all of the time. For example, you will have to change strategy regularly, every few years.
[B]There have been strategies like candle trading, support and resistance, etc. that have been around for years and never changed![/B]
If 2 were true, why would anyone give up to trade professionally.
I’m not suggesting it’s something anyone should until they have a few years of successful trading under their belt but surely methods like candles, S&R will stay forever. Simple economics?
You’re right, things like candlesticks and SR lines will always work. When people say that the markets change and systems stop working after a while it’s because the systems are bad. They are usually based on absolutes that DO change over time.
For example, if you developed a daily moving average crossover system that used a 400 pips takeprofit in 2008 it may have been very successful. Prices were ranging 500-900 pips per day in 2008. But how would that system perform today, when the range is in the 200 per day area??
Systems like those stop working after a while, but candlesticks, S+R lines, trendlines, and price action will always work!