With due respect to all the traders out there :) we all draw lines and we all know from where the market will turn but unfortunately not many survive the onslaught. How many a times has the stop hit or market did exactly the opposite what the wise man has predicted.
I once read when i started my career 20 years back, "the bulls and the bears wins the race while the pigs get slaughtered" took me a while to understand the real meaning of the golden rule.
I suggest "Do what others don't know and don't do what others know"
An example to prove the above phrase would be - we have been drawing all kinds of patterns on the poor chart, and probably most of them do the same thing cause the principal remains the same, now most of the times market breaks those patterns with a devious smile leaving little imaginations for the poor souls
We either move the stops and break the rules or remove the stop to fight the EGO
So instead of following the herd try something different...Good Luck :)
I once read when i started my career 20 years back, "the bulls and the bears wins the race while the pigs get slaughtered" took me a while to understand the real meaning of the golden rule.
I suggest "Do what others don't know and don't do what others know"
An example to prove the above phrase would be - we have been drawing all kinds of patterns on the poor chart, and probably most of them do the same thing cause the principal remains the same, now most of the times market breaks those patterns with a devious smile leaving little imaginations for the poor souls
We either move the stops and break the rules or remove the stop to fight the EGO
So instead of following the herd try something different...Good Luck :)