NO BS DAY TRADING

Now…I ask you…do you think any of these exceptionally intelligent individuals who are spending fortunes on cutting edge infrastructure in hopes of achieving faster than light order routing so they can beat the next guy to the punch with a trade which has been triggered by an algorithm that took two years to program…do you think these individuals are making trades based on what would be considered "traditional" technical analysis? Are those programs attempting to pinpoint the next Fibonacci wave extension? Are those programs attempting to spot a "head and shoulders" pattern? Would all of that time, money and intelligence be necessary if they were simply going to enter a trade at a "pivot point" and then set a stop loss at a "support level" which is 10 ticks away from the entry price while simultaneously setting a profit target at a "resistance level" which is 25 ticks away from the entry price?... So if the top dogs in the trading realm are not spending all of their time watching the..