I've always wanted to learn how to trade profitably.
After a years of demo trading, I'm starting to think that this may not be possible.
I've been starring at charts until my eyes bleed.
A few people (who are apparently profitable) have told me that nobody has ever been consistently profitable with trading from charts.
Obviously lots of people also claim to be profitable chart traders, but typically, they won't ever post live trades or broker statements. Before I waste my whole life chasing shadows, I'd love to know that it's at least possible before I try a different method (DOM/Time + sales etc).
From speaking with various traders, the consensus is:
Charts - No chance! Equivalent to Just flipping coins.
DOM/T+S - Closer. Money CAN be made, but it's very hard, and it's only going to get harder due to algos etc. Also not a nice way to make a living.
Secret '3rd option' - Nobody ever elaborates on this, apparently though fear of diluting their 'edge'. Apparently there exists another way that doesn't seem to involve any of the methods i'm aware of. (No charts, No DOM/T+S, not fundamental analysis, etc etc)
With chart trading, the advice is usually to start from scratch and write down observations on market behaviour etc.
I've spent thousands of hours, but none of my observations have ever lead to anything that has given me an 'edge'. Sometimes my stuff works. Other times it doesn't.
It's depressing because I feel as though I need to 'start from scratch', but I can't see me being able to come up with anything 'new'. I'll just be going over old ground again.
If anyone would be willing to help me, i'll gladly start a journal, trading either CL, NQ or ES? I'll post my trades/daily blotter etc