Kimichi,
Nice post covering alot aspects of TA...but there is NO magic bullet foolproof sytstem that will conquer the markets.....period.
This is what makes the best traders in the world what they are...they have the talent/discipline/split second ability making qualities needed to be flexible in their decisions,and not being tied into a numbers specific system or program.Their money management disciplines are uncanny as well
All the things you covered are GREAT tools in becoming/enhancing a traders chance of success....but the HUMAN element is what separates the great ones from the one hit wonders
Go ask the quant geeks with thier phd's in math,what happened during this recent market meltdown with their recent exposure to the CDO instruments tied to the sub-prime disaster?
They majority of these 'fool proof' long/short HIGHLY levered hedged vehicle "traders"....lol.... all scratched their heads saying ... what just happened?
"But we WERE UP almost 30% for the year ,and are now we are down 60%" .....as they had NO idea of a liquidation exit plan,with many of these so called quant programs crowding the trade.Many of them will now be looking for a new job to boot,or just leave WS.I cant tell you how many of thse ideas/programs eventually BLOW UP over the years
I am still in LV now...,as I have stated before ,I am going to start a thread about trading/investing when I return home,that covers ALL of the traits IMHO needed to be a successfull trader/investor(esp. the human/physcological importance of the markets)...not just some mathamatical theoried program ,that might work on paper for a short time frame.....when eventually "mr. market" decides to rear its ugly head and teaches this new system of the week a lesson as well
Sorry to say guys...I only wished it was that easy for ALL of us
TTYL,
Stephen [img]/images/graemlins/cool.gif[/img]