Any novice trader will be quickly loaded up with traders’ lore as they sit staring at the jiggling pixel that is all that matters in markets. The short-term trader is sometimes called the short-life trader because all they are trying to do is anticipate the next directional move about to break out and to scalp some profit from it and to successfully keep up this guessing game hour after hour. All you have to do is trade what you see they say, so the saying goes.
Well, what you see from moment to moment is noise, but look at a big enough picture and things start to resolve. Sadly for the short-term trader that picture is too long term to scalp and for most instruments the noise is so blinding that what is happening is covered in a fog no matter what time interval you look at, and this is because their performance is mainly random. It is only when markets start to become non-random that the fog rises, and the speculator is given a peek at the future.
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