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currencia · 18-01-2003, 19:05

Linda:

95% of fx traders lose. About 95% claim to use trendlines and be trendline traders as their primary tool, or one of their primary tools. Might there be linkage?

The steeper to the north or to the south the trendline is, the stronger the trendline; Of course, then the trendline takes less time to develop when it is steeper, by definition. Ergo, a trader has less time to identify this trendline and trade it. Most traders cannot identify and confirm a trendline of a 45 degree angle until the second subwave of wave three. By this time, a trendline trader will then enter just about when wave 3 is peaking into its subwave 5 top and an abcde pennant or flag retracement is about to unfold in the traders face for losses.

Trendlines are easily spotted at the middle of the chart, or on the left side of the chart. Unfortunately, trades happen at the hard right edge of the chart, and eastbound of the hard right edge where most charts won't even let you draw a line. So, if ya cant spot a trendline on a 45 degree angle til its too late and ya certainly then wouldnt be able to spot a big pip moving steeper trendline of 22 1/2 degrees NNE in time to get aboard, then I guess one is relegated to trading the lousy shallow trendlines that aim 22 1/2 degrees towards the east? Hmmm. No wonder most traders loose!

Successful traders do what unsuccessful traders are unable or unwilling to do. It doesnt take a lot of talent to see a trendline without having to draw it. Save and fill your toolbelt space with more meaningful tools if yu want to be successful in this zero sum gain business of trading.

18-01-2003, 19:05	#4 (permalink)
currencia level 3 Join Date: Aug 2002 Posts: 1,022 Rep Power: 0	Trendline/schmendline Linda: 95% of fx traders lose. About 95% claim to use trendlines and be trendline traders as their primary tool, or one of their primary tools. Might there be linkage? The steeper to the north or to the south the trendline is, the stronger the trendline; Of course, then the trendline takes less time to develop when it is steeper, by definition. Ergo, a trader has less time to identify this trendline and trade it. Most traders cannot identify and confirm a trendline of a 45 degree angle until the second subwave of wave three. By this time, a trendline trader will then enter just about when wave 3 is peaking into its subwave 5 top and an abcde pennant or flag retracement is about to unfold in the traders face for losses. Trendlines are easily spotted at the middle of the chart, or on the left side of the chart. Unfortunately, trades happen at the hard right edge of the chart, and eastbound of the hard right edge where most charts won't even let you draw a line. So, if ya cant spot a trendline on a 45 degree angle til its too late and ya certainly then wouldnt be able to spot a big pip moving steeper trendline of 22 1/2 degrees NNE in time to get aboard, then I guess one is relegated to trading the lousy shallow trendlines that aim 22 1/2 degrees towards the east? Hmmm. No wonder most traders loose! Successful traders do what unsuccessful traders are unable or unwilling to do. It doesnt take a lot of talent to see a trendline without having to draw it. Save and fill your toolbelt space with more meaningful tools if yu want to be successful in this zero sum gain business of trading.