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That capital is controlled by humans with human motives, or by "machines" that have been designed to operate in a way by which particular humans would benefit, i.e. according to human wants, needs, desires. Without human beings, there is no market anywhere. TA is predicated upon a freely...

I have days were I gross three points and nearly net the same. I have had days were I grossed three points and was net negative one point.

A trading algorithm is a set of rules defined by a set of market variables - rules with precise definitions for initiating a position, taking your max loss, exiting for max profit either using defined limits or defined trailing stop exits. Following said rules is not "guessing." Vacillating...

Funny to have come across this thread. I just found out about robinhood a few weeks ago myself. A poker buddy of mine told me about it and we're trying it out with a little contest between us - we each can ante up $100/week of fresh cash, and we must execute at least twelve "all-in" trades...

As I view the world, it is thinking like that that separates those who can from those who can't. To view a trade as a "guess" is to view it as something that can be judged as being "right" or being "wrong." A trade cannot, as I look at it, be right or wrong. It can only be a win or a loss...

If that is what you believe, then it is no wonder TA "doesn't work" for you. I use TA in much of trading. I never feel like I am "making a guess" when I put on a position.

I agree. Most will have failed to learn correctly to identify these patterns, failed correctly to identify a measuring move from a random swing, and failed correctly to draw a trendline that follows an actual trend. If one cannot identify and apply these correctly, then there is, of course, no...

I spoonfed a real nugget from @bighog above. And I wasn't the only one who found. @KDASFTG noted that "ET is one hell of a treasure hunt!" In response to bighog's post, kdasftg said "I hope you come to realize that BigHog just pointed out a real €œbiggie today, as he has before. And just...

Reading post after post and thread after thread about how TA doesn't work written by those who so obviously don't know how TA is supposed to work gets a bit old. I am not here to teach TA or to give away edges. Those links from Big Hog point to a solid starting point for learning how TA might...

This is all I'm willing to show (this is from this morning's ES trade). I'm not here to give away edges or teach TA. TA, used properly in any number of its forms, can help one identify a trend, judge its strength, and distinguish likely pullback/continuation situations from likely reversals...

If that is what passes for TA, then it can be no wonder why so many piss and moan about how TA doesn't work. It is not in the charts as you are seeing them. That's a very good tip for you, eddiemorra. Another would be to get some real TA knowledge - read some Edwards/Magee, some Schabacker...

Or they are in it simply to be in it, i.e. "for the action." I know a few gamblers who are like this. How would you use "TA (support/resistance/priceaction/trendlines etc)" to explain the shorts you were taking on the ES yesterday afternoon?

"not everything which counts can be counted" - How true. Edges differ in kind/class. Nice post G_o_B

This is perhaps best understood using the example of momentum "divergence." Linda Raschke has long used a 3-10 price oscillator as a momentum indicator. When price makes a new high but the oscillator does not, that indicates waning momentum, and that price may soon change the pace of its...

Wisdom. The initials jcc mean anything to you, @Handle123? From Texas?

I would say so. To the extent that a loosely defined algorithm lacks exact parameters for entry and trade management, it is discretionary. Hill explains it very well in chapter 8 of The Ultimate Trading Guide. I don't follow. An algorithm is either precisely or loosely defined. If it is...

In another thread, @Handle123 has mentioned the work of John Hill. A few of Hill's thoughts that seem pertinent here come to mind: First, the point that "a person's trading psychology can make or break a trading plan." All the rules and the best laid trading plan won't make you money if you...

I look back to my first reading of chapter 8, "Introduction to Mechanical Trading Systems," in Hill's Ultimate as a turning point for me. An understanding of his explanation of the distinction between a "mechanical trading system" and a "trading tool" would benefit more than a few would-be...

RIP Don. You were one of the good ones.

This all reminds me of an old story from Stanley Kroll's Dragons and Bulls. It was from a chapter entitled (apropos this thread) "Those That Know Don't Tell; Those That Tell Don't Know" I had an interesting experience recently, which exemplifies this point. The research director of a large...