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Those were hilarious 20 pages (since I left) to read... Especially recommending stop-limit orders to trade CL thus almost guaranteeing one a non-fill on the best momentum moves. :D

So is anybody going to comment on Victor Sperandeo and other traders who openly stated they use TA and have proven track record? Or this is just another thread full of those who just fish for ideas or edges under the cover of criticism? :)

Exactly my view of it. Neither science nor art... Just a tool... As long as it helps to trade profitably, why not use it?

Doubt Edwards & Magee not even speaking of earlier authors who wrote about TA were sponsored by FX dealers. :)

So is anybody finally going to oppose my example of Vic Sperandeo as a successful trader claiming he uses TA to enter/exit trades and gauge risk and say he was just fooling himself (which would be especially hilarious hence he spent so much time in his life studying psychological side of trading...

This is 6E during Bernanke speech in July (see attachment)... You mean it, when saying this action is purely retail traders in absence of big participants and low volume? :D

What's your definition of TA?

Well... I'm MA in psychology, but thanks for explanation anyway, it may be useful for others too. :D You're right, addiction to random rewards indeed happens in trading, but this is one of general mental traps of this business I would say, not TA. As for the matter of fooling himself... I...

My definition of useless is something that really cannot be used to improve trader's results. But if TA patterns, subjective or not, doesn't matter, help some traders to spot good trades better, can it be called useless? Maybe, but not objectively useless. :)

Think so? So that's purely retail pikers who cause huge spikes on huge volume in world's top markets when Ben Bernanke speaks? :D Good. :)

You'll probably be surprised, but price amazingly often shows the tone of Draghi's or Bernanke's speech in advance... Because they don't speak out of themselves spontaneously, all their speeches are planned and of course the content is known to informed people.... who can't hide their actions...

Or just fishing for some edge... :p

If 80% trends fail, fade them with at least 1:1 R/R risk parameters and you should do great, no? :)

Dear TA bashers, what do you think of Victor Sperandeo, the man who showed proved average return annual of 70.71% for 10 years in a row without a losing year (compared to 11.5% annual return of S&P 500 during the same period) and clearly stated that he uses TA to enter/exit trades, evaluate risk...

Did anyone claim TA "works" in a sense of guaranteed profit in every TA based trade? I see absolutely no problem with false breakouts or any other failure of TA setup. Trading is the game of odds, not certain outcomes and that's why it's so simple, but so difficult, because humans have...

Glad it works for you... There is really no "right" or "wrong" way to trade as long as you make consistent profits which are reasonable compared to the risk taken.

Thanks. I try to be objective really and don't have a need to defend anything but truth. If TA "works" for me, I say it works. It is not fully quantifiable for me and probably 90% mental and only 10% "setups related", I admit it. If I find a better way to trade, will say so too. :)

Don't think too much. Just trail your stops and and you will get some sweet runners. :)

Frankly I tend to just scalp the immediate momentum myself, but I have seen others do as you said: take a few tries to catch the big swing with scalp-like fine-tuned entry... My experience is, it still pays off very well overall, because even if you try say 3-5 times, get 2 losses of 4 ES ticks...

What can beat entering trade as a scalp, but riding it as a swing if it shows the potential? :p