Pipsaholic
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Has any independent research ever been done as many state this figure? I could imagine it as that much as I can see it on charts daily.
72% Of Breakouts Fail
- Thread starter Pipsaholic
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Pipsaholic
Youre asking how long is a piece of string. What is a fail, what is not a fail?
brewski1984
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Pips must be getting commission for each topic he starts
wallstreetwarrior87
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Good news; that means that 72% of reversals "succeed" then:clap::clap::clap:
Seriously though, this means absolutely nothing, so forget this rubbish.
What parameters are used/involved here to make this statement? What is your precise definition of a "break out"?
Something to consider: A break out may "fail" for traders using an hourly time-frame, but the breakout could have been a "success" for a scalper off a 10 second chart.
So would you be willing to convey to others what your definition of a break out is? Be precise as possible. Once you have thought it through you will realise that most of the information in circulation regarding this area is actually incorrect.
G/L
Seriously though, this means absolutely nothing, so forget this rubbish.
What parameters are used/involved here to make this statement? What is your precise definition of a "break out"?
Something to consider: A break out may "fail" for traders using an hourly time-frame, but the breakout could have been a "success" for a scalper off a 10 second chart.
So would you be willing to convey to others what your definition of a break out is? Be precise as possible. Once you have thought it through you will realise that most of the information in circulation regarding this area is actually incorrect.
G/L
VielGeld
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^ Yep, price has to hit a top of sorts at some point where sellers will decide to come in hard.
My usual refrain as I see breakouts forming:
Price is going down a bit... Reversal there... yep, goes back up to touch the previous BO number... More selling, this is just going through the motions here... Now it's a question of how many more pullbacks before the ultimate BO, look at whether the pullbacks are making higher lows or not. This could get boring, folks... Wait... It's jiggling there, creeping up, right on the line... Calm before the storm? And... BOOOOOO!! This is it! Breakout, breakout! Buy all you can!! Ooooh~~It's going up! ... Oh snap, failed! The pros are bailing into the market chasers, heavy selling... Price hits previous resistance, bid is hit! ... Buyers creeping up again and defending their lines... BOOM! Did you see that folks?! Price is sliced, buyers are going crazy here! OH MY GAWD!
I wonder if we shouldn't get paid commentary on live TV or something. I'd pay for that!
(since the above process is actually really boring in practice. )
My usual refrain as I see breakouts forming:
Price is going down a bit... Reversal there... yep, goes back up to touch the previous BO number... More selling, this is just going through the motions here... Now it's a question of how many more pullbacks before the ultimate BO, look at whether the pullbacks are making higher lows or not. This could get boring, folks... Wait... It's jiggling there, creeping up, right on the line... Calm before the storm? And... BOOOOOO!! This is it! Breakout, breakout! Buy all you can!! Ooooh~~It's going up! ... Oh snap, failed! The pros are bailing into the market chasers, heavy selling... Price hits previous resistance, bid is hit! ... Buyers creeping up again and defending their lines... BOOM! Did you see that folks?! Price is sliced, buyers are going crazy here! OH MY GAWD!
I wonder if we shouldn't get paid commentary on live TV or something. I'd pay for that!
(since the above process is actually really boring in practice. )
Did you know that 72% of statistics are made up?
Lord Flasheart
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exactly,how the hell did whoever made that statistic decide what a breakout is. What I think is a breakout someone else may not,and in reality you could call any trade a breakout. How many times are we told that the market trends only 20% of the time,give me any market and ill find a trend in one timescale or another
Or as someone said before, great, that means 72% of reversals work. Its complete nonsense.
EricReed
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I thought you said I worked for them, now I'm a drop out. Can you get your story straight?
neil
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Re: who on here actually makes money trading?
--------------------------------------------------------------------------------
Quote:
Originally Posted by Devilicus
Who knows. Lets assume.
I reckon Martinhoul does. Also Arabiannights and Dionysustoast.
I reckon Pocrel, wackypete and DSshriprock make consistent money trading, but im gonna guess not quite over 5k per month.
What about you, Eric? what's your story? how long you been trading? You a TA guy? what instruments?
ERIC Replies :
I am new to trading... I just wondered if anyone on here is really making money from trading.
most people seem to be doing crap to be honest!
Eric - You ,as you state above, are new, yet you attack others who do not support your pal baghdaddy etc. Then, as you write above ("I am new to trading"), you deem yourself sufficiently expert to judge others, without any verifiable evidence, as "crap" traders. Also,looking at many of your historical posts, one is struck that so many of your posts are pointlessly venomous or verging on childish. So, are you a plant for some scammer, or simply trying to inflate a fragile and insecure ego.
