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"Toss Up""
A quote from Elder's " Come into my Trading Room" says :-
" A good system gives you an edge in the long run, but there is a great deal of randomness in the markets, and any single trade is close to a toss-up".
This implies that no matter what you do or how much technical analysis you apply, you are still facing a more or less 50-50 scenario. ie. up or down
So while technical analysis is a valuable and proven tool, it is possibly a waste of time to go overboard on it when facing a " toss of the coin" situation.
Pay heed to TA - yes - but back your own personal judgement and just go with the flow.
IMHO good money management and a good feel for probabilities is the real key to this numbers game.
Any comments ? !!
A quote from Elder's " Come into my Trading Room" says :-
" A good system gives you an edge in the long run, but there is a great deal of randomness in the markets, and any single trade is close to a toss-up".
This implies that no matter what you do or how much technical analysis you apply, you are still facing a more or less 50-50 scenario. ie. up or down
So while technical analysis is a valuable and proven tool, it is possibly a waste of time to go overboard on it when facing a " toss of the coin" situation.
Pay heed to TA - yes - but back your own personal judgement and just go with the flow.
IMHO good money management and a good feel for probabilities is the real key to this numbers game.
Any comments ? !!