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Trade Myths

Discussion in 'General Forex Talk' started by jpadventure, May 9, 2011.

  1. jpadventure

    jpadventure Private

    Aug 13, 2010
    Likes Received:
    Anyone told you "don't do that" because....
    When ever I hear that I put the words "because I can't do it" after whatever they've said.

    Here's some, list yours.

    Don't trade Mondays because the market hasn't found a direction yet. (Try a longer time frame)
    Don't trade Fridays because the market is too volatile. (Have better timing)
    Don't trade the news. (There's profitable strategies in all situations)
    Don't trade against the trend. (There's profitable strategies in all situations)

    There's more, I like to debunk myths and I encourage you to make you own mind up and test things out yourself.

    Except, don't scalp because it's impossible. ; )
  2. John Bozeman

    John Bozeman Private

    Dec 15, 2010
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    The majority of 1 and 2 bar candlestick pattern meanings are myths.

    Candlestick patterns working in all time frames in all markets- MYTH.

    In fact, most candlestick patterns mean the OPPOSITE of what they are supposed to mean in the FOREX market, but they aren't very profitable even going the opposite direction.

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