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The tape has been boring AF over the past few days which is an excellent time to teach you guys a thing or two about price action. And let me start out by ripping off the band-aid and telling you straight forward that relying solely on indicators – ANY indicator – is HUGE mistake. One that may in fact cost you your trading account.
If either your spouse, your girlfriend, or your broker ever tell you that “size doesn’t matter” then rest assured that you are being lied to. And yes it does matter ‘how you use it’ but it comes with some caveats.
As humans, we have an extremely poor ability to judge statistics. It’s one of the key reasons that casinos anywhere on the planet not only exist, but thrive. Most of us know that in a casino, the odds are stacked squarely against us.
“I’ve seen things you people wouldn’t believe… Attack ships on fire off the shoulder of Odessa. I watched broken dreams of effervescent markets glitter in the dark near the gates of the Eccles Building. All those moments will be lost in time…. like tears in rain…. Time to die…”
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