i've thought about it. sometimes, because my style is fundamental and geared towards a timeframe that is a bit longer (i.e. weekly or monthly chart), i don't care too much for being totally precise on the entry point. stop loss management is what counts anyway, in my opinion.
while i have had some success with that approach, i think it is still much better to use technical analysis to identify your trade opportunities -- especially for those who want to trade for a living and/or trade on an active, short-term basis. just my opinion of course.
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