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Car = technology... a machine... TA = interpretation... the way you would with a sign... You "read" TA but you operate "drive" a car... I think they're in different categories.... There are defined patterns to TA... You can pick them up from most TA books... So the definitions are...

The stop out...

TA isn't the car in this analogy... TA are the street signs guiding you along...! The "car" would be your trading platform... AND you say you're a psychologist...? :p Saying that TA is UNRELIABLE is a fair assesment.

UPDATE ON THE JPY TRADE: Stopped out at 79.67.... It did get as high as 79.98 before reversing and stopping me out... Does that prove TA doesn't work...??? No... But we all know that it's completely unreliable... I was up 14 pips at 79.92 or about 1:1 R:R had I taken profit. The...

You're still in Manhattan...? I thought Manhattan was evacuated...? Hey... Stay safe...! I know what you're saying... Catching price action is more about relying on your reflexes and interpretation of what is going on... ...that makes it more of a game or an art form... I suppose you...

Hey... Allright, no worries bro...! Stay honest! :cool:

Technically speaking our inflection point is more or less where our yellow lines intersect... It would indicate a downward concavity, indicating bearishness...

Buddy... You're telling me two things at the same time... I want to be long because of "cup and handle" but short because of breakdown... AND... to trade around the inflection point... Which defined means a change in concavity...! That is... a change from concave up, to concave down...

I just realized people might not know what I mean by "cup and handle" pattern... It looks like a cup with a handle and is generally considered to be bullish by the TA community...

Thanks... this is standard TA at work... but if it works out it will be because of luck... If it stops out and breaks down you know what they'll say right...!??? It's going to be like... "See we told you it was going to be a breakdown... You should have sold based on the bear flag off of...

I know... I noticed none of them want to guess UP or DOWN in real time... I'm going to go with the "cup and handle" theory... Bought USDJPY @ 79.78 SL 79.67 TP 80.10...

Thank you for your thought out answer... but you already know what my response is to this don't you...? Right... It's unreliable... If you look back at the 1hr JPY it looks like a "bull flag" on the 1hr or a "cup and handle" pattern... I know my TA really well... I stopped using it a...

Oh you do, do you...? Why don't you change timeframes and see if they're still as obvious... Everyone looks smart in hindsight... He who guesses right looks awesome...!

Same thing only on the 1hr chart... Why did this fail...? I guess one man's bear flag is another man's double bottom...? Right...!? So how do you decide between the two in an objective way that doesn't involve plain dumb luck...?

This is how TA doesn't work... You see something on the 4HR USDJPY chart expect it to work out and then it doesn't... Why did this pattern fail...?

Let's see your edge is the mighty STOP LOSS... AND you win more often than not...!?:eek: UNREAL!!!:p

If the firm offers you an edge through technology, execution, rebate/credit trading etc... Your career will be exactly proportional to how long your edge lasts...

The retail traders who do make it do so because they hit a home run... They go big (relative to their account size) on a stock and when it soars they make some money. You hear about them from the marketing factories out there who advertise them as a success story that you can follow... But in...

...LOL... That cracked me up...!:p

Well... There's Dan Zanger...!:D http://www.chartpattern.com/ He had a good run for a while before he started selling stuff...