I recall Vic Sperandeo saying something in his classic book, methods of a wall street master, that intraday price patterns should be characterised differently from higher time frame patterns.
Yes, i personally have no doubt about it. But i suppose my definition of edge may differ from yours. I've been trading for decades. Had huge winning years and small losing years as well. 3/4 months is not that long and note i don't trade often.
Anyway, Surf DOES use TA (he uses a chart, how did you figure out out putting a stop loss at 17005 on your latest Surf Report trade without looking at a chart? Did u pull that number out of your arse?).
I think Surf's problem is that he can't admit to it. You need to bring that up at the next...
False and misleading. I know many ex investment bank traders (no longer bank traders due to volcker rules) who used TA and still do in their new careers as hedge fund managers.
there are loads of them. you just need to take a look.
Here are 2:
Marty Schwartz, qualifies as a retail trader (a rather big one)
Peter Brandt, qualifies more institutional since he manages money.
Yes, they do. Every single bank and institution out there looks at price charts, so by my definition they are use TA in the decision making process to make profits. Only the losing firms like Victor Niederhoffer and his ilk don't look at charts. Amongst my hedge fund manager and managed accounts...
Play those videos back at 1.5x or even greater, go through em pdq. Don't want to increase coffee consumption since i'm currently short Dec Coffee :D
Some of the videos relate to trading setups that i have no interest in...i suppose i might blast through them at 5x playback just in case there...
I'm still going through Al Brooks's videos. Well over half way through. I've been taking notes. Will not bother watching all of them. Should be done by the end of the week. Will report back here.
Happy for posters to discuss TA and anything else on this thread.
Re Surf, he's just causing a bit...