Good results are the ultimate measure. I agree, if you're getting good results then no need to change anything. If not, then it might be worthwhile to shake things up and kill some of your old darlings.
I raised the issue because one day AZ's charts showed him going long in a clear downtrend 3 times. Maybe this was just an anomally.
So the question becomes why did he think price should be going up when it was clearly dropping. What was making him think that?
It looked like he was leaning on the fib for support. I don't know. AZ do you lean on fibs for support?
Secondly in his "new" set of rules a few pages back - he did not mention the word fibs. So I didn't know if they were part of his trading plan/decsion making process or not.
That is why i raised the issue.
As i said i knew it would be controversial. I was only trying to help him and to get him to think if he really uses them and if so how he uses them.
If they help him fine. If they don't fine. It matters not to me. I was just giving my two cents worth - after reading 93 pages i figured i should give him some feedback of what i saw.
I think there are as many ways to trade as there are fingerprints. I have never seen two traders trade the exact same way. If you gave the same system to 10 different people i bet you would end up with 10 different ways to trade.
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There are also some people who have good results using astrology in trading. Now I personally think fibs work better simply because more people use them, making it more likely an 'event' will take place at a key level. But the mind is very powerful and complex, you can "use" any number of "tools" and find success or failure with very little correlation with the tool itself.
Just my opinion...
For instance, 50 years ago only daily charts were used, charts were printed by hand, and yet we had people who were successful with both very simple methodologies as well as people who created extraordinarily complex methodologies.
Today it is far easier to move towards the complexity, because of the power of the tools available at our fingertips. But it doesn't mean complexity = profitability, and surely there is something to be said for the sake of simplicity being more rewarding.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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