it's the weekend 8-10apr , page-67

I've just been searching for some "wise words" that have been stuck in my head for a while now.

I was going to post them on another thread, but changed my mind, but seeing as I went back and found them, I thought I would post them on this thread, they are probably better suited here anyway.




The first is from toterdell91, who was answering a post from bloke who was complaining that a chart on the weekend charting thread did not turn out how the chartist said it would, the following week,

" Weekend charting is here to help you develop your charting skills. Remember it is not a forecasting service, the people here are developing amateurs, not paid professionals.

and I think you will find that it is not the chart that is incorrect, it is the occasional misinterpretation of the probabilities the recorded facts might lead to, sometimes through lack of experience, sometimes through over enthusiasm, sometimes because someone with deep pockets has decided to make a low probability outcome into observed reality.

It's all about probabilities. A chart of price and volume movement is not a contract."





The second was from dgoransson, who was speaking to PaulBooma in the car, on the way to the Brisbane 4 meeting last month,


"PaulBooma made a good point in one of our conversations - There is ultimately only ONE line you are trading. When you are getting ready to buy or short there's only ONE line you are buying or selling, whether it be the backtest of a lower or upper tine, or confirmation of a trigger line holding as support resistance. The other lines can add context and can be used as targets, but eventually you have to pick a line to trade and you want to make sure that you aren't the only one looking at that line."





These two paragraphs should be remembered, imo

Hope someone else on here, who may have missed these comments, the first time around, finds them interesting as well.

cheers