Setups are bunk and trading the markets profitably basically boils down to simply knowing when it is time to buy, and when it is time to sell, or is it just the case that the market is there to teach us bad habits?
Just sat watching this come right down to my buy entry, then sit and watch it take off towards my target, like a fucking plum, cos I never got no 'setup signals'.
I have lost count of how many times this has happened, and I don't keep track of missed trades. I do however log losing trades, and have plenty of examples where I took a trade based on 'setup signals', that fell flat on it's face, simply cos it wasn't time to buy or sell.
The more experience I get, the more I am starting to think that setups are bunk. All that matters is the trade location being spot on. If that coincides with some elaborate 'setup' then great, but most of the time it won't and waiting on the golden signals to transpire will just have you sitting on your hands, or worse than that, entering when you should be sitting out, simply because the 'golden signals' have popped up out of the charts.
Just sat watching this come right down to my buy entry, then sit and watch it take off towards my target, like a fucking plum, cos I never got no 'setup signals'.
I have lost count of how many times this has happened, and I don't keep track of missed trades. I do however log losing trades, and have plenty of examples where I took a trade based on 'setup signals', that fell flat on it's face, simply cos it wasn't time to buy or sell.
The more experience I get, the more I am starting to think that setups are bunk. All that matters is the trade location being spot on. If that coincides with some elaborate 'setup' then great, but most of the time it won't and waiting on the golden signals to transpire will just have you sitting on your hands, or worse than that, entering when you should be sitting out, simply because the 'golden signals' have popped up out of the charts.