Today's market, as a Price Action Trader should made tons of money. Amateurs will die instantly. If I was still on my old-fashioned mode, sure do also made lots of profit. And with my lack of experience visuals, volatility always come on falling market. Never expereinced the real bullish powerful exciting market like 1998-2000. Only the faked US$ stimulus market that moved like a zombie. That's why day traders prefer the bearish market. Profiting from Panic is the best way from day trading IMO.
But times like this didn't happen every time. From mid 2009 - mid 2011 we had a generally dead market with few sparks on EUR easpecially early 2010. At those 2 years I traded price action. The result was rather annoying. The dull market full with algo trading is not a good way to trade. I am not saying you can't profit from market like this. But as a breakout trader like me, it's a hell of pain. At the time like this, emotion easily distracted and causing to lose money. I hate it. Now, it's day trading heaven again and I am not even inside. No regret, not care.
News trader, whatever the method we chose, always behave the same. Jerk-off movement always the same direction with the data's number. No matter the technical trader said, instant result of data will kill technical trader in the world. Most technical trader will avoid the news time because they know, they cannot beat those news guys, at least at those very short term.
I used to avoid the news, lot of guru said that these guys are lunatic freaky gambler, addicted with increasing adrenaline and heart sports. Even my tutor hate those guys. Every technical trader I knew said avoid the news, don't follow the news, be careful with news, news is just for losers, they called it the jerk-off or junkers.
I'll tell you what: the junkers made $17000 last week with merely $20000 capital. The junkers is me, lol...
And I am proud to become a jerk-off trader.
Oh and those of you who still struggle, don't be a stubborn stone-head traders. Explore new world and find an uncharted place called spike news traders. I always believe to be successful in this profesion, you have to be unique. And stopped fighting the market by yourself. It's futile. Better you tricked and fooled your brokers. Trust me, it's much easier. Much much easier...
The reason why most brokers now protecting themselves and hate this kind of traders because, the traders make money consistently. No brokerage firm in the world forbid something that harmful to the traders. They make new rules and sets to forbid them to lose money. Think of it....think of it...
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