Personally I moved on to using real statistical analysis in my trading. For the markets I trade, I know things like:
- the average daily P/L% by month, and by day of the week, for the last 20+ years
- exactly what % of the time I can count on seeing certain candle formations
- the average value of RSI(10) at market tops and bottoms (as defined by my own personal swing retracement%)
- and a ton more
It is not my main thing but for a very small fee I will analyze markets for traders. The stats help them get familiar with their instrument, knowing ranges and what to expect or what is odd.
Would like to hear from others who 'have seen the light' of using statistics as well. What works for you?
Good trading.