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Originally Posted by sole
Only person repsonsible for your trade is yourself. Only losing traders blame their brokers or the markets.
I don't trade against anybody. I trade against myself because the biggest enemy is my own psychological makeup. Of course am I aware of what every newbie is watching therefore I will exploit that. Newbies can short a head-n-shoulders neckline. I will be out of most of my short position by then.
Newbies will short new lows. The markets usually break the low by 3-6 ticks just to reverse. Newbies play breakouts. Professionals play pullbacks retracements.
Not much futures traders in here? I see tons of posts on forex but not much on index futures.
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I think no
Pros do not play retracements so often
the hope of reversal is characteristic for newbie traders they often play it.