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oldguy

01/24/12 12:48 PM

#10387 RE: RFB #10386

Sounds like you.

buckyboy

01/24/12 1:10 PM

#10389 RE: RFB #10386

Like you say...we'll have to agree to disagree. You can trade in the blind if you wish, but I prefer to have reference points and probabilities of risk/reward in my trading pattern.

Good luck.

buckyboy

01/24/12 1:21 PM

#10390 RE: RFB #10386

One more thought on your viewpoint (with all due respect). Actually charts are much more informative when trading pennies than fundamental analysis.

Psychology is most certainly a major play in pennies...and that is exactly why T/A, chart patterns, and MM levels work. There are so many people playing the technical angle that it becomes a self fulfilling action. The highest probability on any chart pattern is about 72 percent...so yes, entry mistakes are made. It pays to keep a little extra powder around to manage a mistake (wink).