I was thinking that for you to be
where you are in your trading took you probably just as long as it took
me in my trading, you using technicals truely becoming a master of the
"dark" art hehe. The point is that it took you just as long to get where
you are using TA as it would take someone using funnymentals. So, it is
still a time consuming exercise with a lot of work on the practitioners
side, and it would take you very long to convince me that you do not
have a "gut-feel" when drawing your lines and then taking the live trade
on a specific currency. You pass-up on certain trades, right? It just
didn't feel right to take it? That's also gut-feel trading in my
opinion.
I am sure there are profitable TA traders but they are rare because few have the perseverence to stick to something they initially thought would be a breeze. I think that's the real crux of the matter TA or Fundamentals both work dependant on the practitioner and the baggage he/she brings to the market. Of course also dependant on the way we are brought up as kids but that's a topic for another post...
I really do not wish to get into a debate on what works and what doesn't as both sides obviously have success stories. I am just getting rid of some of my own baggage :-)
By the way, initially I tried to answer all the PM's I could, but it is taking a real long time. The people I did answer will hopefully agree that I have given long and clear answers to their q's and I really tried to do it as properly as possible taking their personal circumstances into account. I believe in reaping what you sow so I am really trying to answer people but time is a constraint and I believe in giving something my full attention or leaving it be until I can give a person the attention they deserve. So please do not feel bad should I not answer PM..
However, many of the emails I have seen are from married people some with children...My advice would be to think twice and maybe a third time before putting your family through something like trading FX. Traders who have come out on the other side (maybe like Seekinglight, Jacko?) will know about the frustrations you will have to face on your journey. Certain people are born to be traders and we read about them in books and forums, others (the majority) will have to change the way they think and perceive life. Not many people will "survive" such a journey. Even once you have "made" it, it doesn't stop, you will have to be ever vigilant in your discipline towards the market as it can be very unforgiving if neglected...
The most important thing I can maybe add is that what works for one person may or will not work for another. WE all have different personalities and behave differently under different stresses. So nobody can really teach you how to trade, that is something you will have to find on your own. Like religion, you have to find it yourself, nobody can force you to believe in something your senses cannot experience. I think seekinglight's previous post makes it clear that different things work for different people.
I am sure there are profitable TA traders but they are rare because few have the perseverence to stick to something they initially thought would be a breeze. I think that's the real crux of the matter TA or Fundamentals both work dependant on the practitioner and the baggage he/she brings to the market. Of course also dependant on the way we are brought up as kids but that's a topic for another post...
I really do not wish to get into a debate on what works and what doesn't as both sides obviously have success stories. I am just getting rid of some of my own baggage :-)
By the way, initially I tried to answer all the PM's I could, but it is taking a real long time. The people I did answer will hopefully agree that I have given long and clear answers to their q's and I really tried to do it as properly as possible taking their personal circumstances into account. I believe in reaping what you sow so I am really trying to answer people but time is a constraint and I believe in giving something my full attention or leaving it be until I can give a person the attention they deserve. So please do not feel bad should I not answer PM..
However, many of the emails I have seen are from married people some with children...My advice would be to think twice and maybe a third time before putting your family through something like trading FX. Traders who have come out on the other side (maybe like Seekinglight, Jacko?) will know about the frustrations you will have to face on your journey. Certain people are born to be traders and we read about them in books and forums, others (the majority) will have to change the way they think and perceive life. Not many people will "survive" such a journey. Even once you have "made" it, it doesn't stop, you will have to be ever vigilant in your discipline towards the market as it can be very unforgiving if neglected...
The most important thing I can maybe add is that what works for one person may or will not work for another. WE all have different personalities and behave differently under different stresses. So nobody can really teach you how to trade, that is something you will have to find on your own. Like religion, you have to find it yourself, nobody can force you to believe in something your senses cannot experience. I think seekinglight's previous post makes it clear that different things work for different people.
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