Questions to 3 types of traders
If I have the opportunity to talk with these three types of traders, I would ask them:
Elliot Wave traders – Thinking that you know the future about the market is a very dangerous situation, but it is even more dangerous to put your money in front of these “predictions”. How do you deal with a situation when the market has different outcomes for the same wave count? Or even worse, using Elliot Waves sometimes 2 traders can arrive to different conclusions (and counts), and both could be right?
Fundamental and event traders – There was a time when trading important events & fundamental (3 or 4 years ago, when the market moved 100 or even 200 pips in one direction after an important announcement). These days however, even in the most important announcement (NFP) most of the time the market just spikes up, then down, and at the end the market goes where it all started. How do you expect to trade for a living based on system like this?
Automatic system “robot” traders – You know the market trades in different market condition from time to time, I think our job as traders is to identify these conditions and trade accordingly. How do you expect to make money on the long run if you trade in the same way regardless of the market condition?
What you think?