Lee, look at those 8-week ma averages.
...<just trade in the direction that seems best.> a shorterm traders chances are , if he is a winner, is 55% chance of correct versus being wrong.
And if your really top notch 60%.
The VAST majority that trade whatever way they think/feel is the best get wiped out, you have got to have criteria, methodology, a system, whatever.
You are a chartist, that should mean you are trading by some system rather than what you think "seems" best---so how can you say what you just did???? That would mean you believe in dart-boarding more than a charting--no????? Where is my logic amiss??:)
Statistical fact based on a brokerages study of their new traders, 90% fail, badly( they gave each a 50,000 dollar stake). This firm would hire a guy if he could breakeven or make profits after one year of trading.
Like i say you have got to love it:) To day trade, that is, it is hard work.
gd---i am going back to Bed:) We are going to have a rare rare June Nor'Easter--i am thinking we are going to have one hell of a hurricane year---weather has been "kicking butt" for quite sometime(i mean all over the much of the USA.)
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