Re: I don't know what I am doing
re: the question at hand, I reckon you're not far off. A good 'system' as far as I'm concerned is more about your money management principles than much else; I'm not much of a believer in a rigid set of trading criteria, as I believe that as a local you can be easily exploited - as a basic example, anyone trying to straight out buy/sell support/resistance trendlines would have a very rough time of it in front of the ladder. For me (from my admittedly limited experience), it's the ability to consistently act in your best interests, being able to take your lumps and move on, and on occasion listening to your gut when it's telling you you're wrong, rather than waiting to be proved wrong.
However, there are a 1,000,001 different ways to skin a cat, and people like bnaimy seem to be very successful with a rigid trading plan. That said, I'd wager that out of the hundreds of people on T2W who have read and no doubt attempted to duplicate his system, very few (if any) will have had his results.
SL |