Quote:
Originally Posted by Tallstock
Hi Bobby,
In the inexpensive charting software I use there are numerous formula that are freely available to help you decide when to roll over a position. A clear set of rules is the starting point. Discretionery chopping and changing on a whim (or a belly full of beer) should not be an option. However, you have already stated you have "no faith" in Technical Analysis so I assume you have exhausted all these avenues to find your "grail".
Where you are now searching is a puzzle to me.
Peter
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Hi Peter ,
Using charting software that has formulas that advise do this or that are mechanical systems , a well known American authority Linda Bradford Raschke said : I've known hundreds of professional traders throughout my career but I know of only two who were able to make a living with a mechanical system .
Its about perception , thats why I,m a discretionary explorer who now knows the belly full of beer disadvantage well
Try this test of observation , give yourself 15 minutes to get it .
Look at the equation 5 + 5 + 5 = 550 . Obviously it is not correct .
Write it down on a piece of paper . Now to make it correct you may add one straight line to the equation . It can be vertical , horizontal or angled . You cannot place a slash through the equal sign to indicate inequality .
Have a go then let me know how long it took you .
Bobby.