Re: Lose all your capital fast, with MatTheCat and his TA 101A!
Matt, I just wanted to say that I appreciate the time you spend sharing your thoughts through this thread. You're clearly improving as a trader over time so don't pay attention to haters like r0ach. When someone constantly tries to put you down despite the fact that you haven't done anything to them it becomes obvious that they are dealing with their own personal issues and are just taking it out on you. I actually enjoy reading his posts when they are on topic but all the personal attack BS is completely unnecessary. One of the best ways to learn is through discussion with others and I must say I've learnt a thing or two from your thread including the importance of remaining logical and putting in the necessary work to improve. Cheers
Thanks for saying so. One thing that I am discovering big style, through seeing the massively improved success rate in my 'paper trades', is the extent to which emotions affect trading efficiency. Whether they be from the pressure the market puts u under, or from 'allegiances' to any opinion that you have put out, and feel the need to defend. Some people just have that cool, calm, and collective thing about them and that is what it takes above all else to be an effective trader....people who oculd walk through an airport carrying a kilo of cocaine in their sack, without so much as blinking an eyelid, are the people who would make shit hot traders....them and Aspergers patients, who naturally devoid of 'illogical' emotions.
Don't know how I am going to get around this conundrum...perhaps just reduce bet sizes to meangingless amounts, and slowly ramp them up over time.
Some of your lines will explain price movements:
Gann is rather esoteric to say the least....but I will tell you what...it is a habit of throwing up some pretty interesting levels....
Check these out on Gold for the past 16-17 years:
If u know the rules of Gann, you will see lots of frankly stunning shit going on. Sure, hindsight is 20/20, calling these scenarios to play out in advance is quite another. With that said, Going by what I see there, I say Gold is going to rocket going forward, but obviously, Mkt Buy gold now, and it could slip easily $100, barely even scratching. the long term setup going off that chart. Gann is best used as a 'roadmap', other than to provide trade entry and exit points.