View Single Post
Old 07-03-2003, 15:53   #6 (permalink)
currencia
level 3
 
currencia's Avatar
 
Join Date: Aug 2002
Posts: 1,016
Rep Power: 0
currencia is an unknown quantity at this point
I look at trend lines, and I am "not against" them. It is but one tool in a tool belt. I dont just follow trends, that's correct. Most traders cannot find a usable trendline till after it's too late to use it. After all, which trend line? There are lots of em everywhere!

The easiest thing for someone to teach you or tell you is to follow the trend until it bends. So, it makes a good, cheap story for those who teach for a big fee. In fact, trend line trading has most often very very unacceptale risk/rewards in stop placement unless the retraces are 786's; and that means a very shallow trendline that fortells of reversal soon. Most trendline trades have a stop that far exceeds the taught target. And the more vertical the t line, the worse the ratio.

If trading was so simple as a trendline, why do 95% of traders fail in 6 months? (everyone teaches it, and almost everyone claims they use it to a great degree)
currencia is offline   Reply With Quote