Thanks everyone for your valuable comments and insight on my post.
I have a question for you though since @anon58863749 have read about it(I havent). How would one quantify their intuition when placing a trade? what i mean is how would one set their stop-losses(Assuming SLs are placed based on chart rather than a fixed risk-reward ratio)? How would one know when to exit? or do these articles say all of these mentioned concerns will be solved by another gut-feeling?
One may only act upon his intuition or gut feeling either to buy or sell a scrip / currency pair.
The SL and TP would be calculated as per his MM and RR rules.
Yeah I think the idea of going Bust is something that all traders must embrace as bad as it sounds in order to truly move forward. The Magic T was the 10 ema, from memory wasn’t it ?. He liked to trade in that direction I remember reading. He also combined very complex analytical methods. Great read…
Yes great read - the only book I ever read which actually gets you “involved” in the emotion. The times he went and got “the gold” out of the bank, so he would be ready for when the whole monetary system turned to “Ratchett” - doubling up on losing positions and feeling sick with fear at the same time - - everything contra to “proper trading methods” - I don’t think he did “Maximum risk = 2%” very well - truly a great trader !
He was a little “Light” on explaining his methods, but I chased his “Magic T” outside of the book and as far as I can tell, the stem of the “T” went through the top or bottom of the move and the right side of the “T” was supposed to extend for the same TIME as the left wing. - A little bit “Gannish” in it’s way.
I looked at it a few times, but you had to take some “consolidation” into the calcs to make it “Work” and even then it seemed a bit unreliable. - or at least rather trivial in it’s value.
Well Buzzy’s story highlights some important facts. You can be great doing “YOUR” thing, even if others don’t like it. "Proper training methods " should be taken with a grain of salt. Doubling up on a loser can work, wont talk about it now and any method is best interpreted by his creator which makes copying someone else very difficult…
To make good trading decision traders need sufficient trading skills, expertise and knowledge. And with the passage of time a trader become enrich in his trading skills and become expert. He then can sense the future price fluctuations from the market behavior: which i generally call intuition. And yes, some pro traders are very successful in their intuitions.