100% PERFECT TA setups... If you're not watching for these, you might as well go flip burgers.

[themickey]

Just because you don't find any value or can't make any money from trendlines or channels does not make them "all bs".

That's not really the point I was attempting to convey.
What I was attempting was KISS too, similar to Scaterbrainsnbergers point.
One could in theory and practise dispense with dozens of chart lines and still arrive at the same conclussion.

 

[Darc]

Let me see if I've got this right:

Support and Resistance, does NOT work.
Trendlines and Channels, do NOT work.
Moving Averages, do NOT work.
Candlestick analysis, does NOT work.
Volume analysis, does NOT work.

Thanks.

 

[tiddlywinks]

One could in theory and practise dispense with dozens of chart lines and still arrive at the same conclussion.

I agree, but...

You need some method and/or means to arrive at a conclusion.

The market does not care if it is the same conclusion as someone else
with different means and/or methods.

The conclusion you arrive at, whether it is right or wrong, is your conclusion.

 

[maxinger]

Let me see if I've got this right:

Support and Resistance, does NOT work.
Trendlines and Channels, do NOT work.
Moving Averages, do NOT work.
Candlestick analysis, does NOT work.
Volume analysis, does NOT work.

Thanks.

Quite correct.

change
does NOT work
to
does NOT work most of the time.


If you just use
SR
TL channels
MA
candlestick volume analysis,
The win rate will be around 1% (best case).


So that means traders must come up with something to
improve the win rate from
1% to 40 to 50%.

 

[schizo]

One could in theory and practise dispense with dozens of chart lines and still arrive at the same conclussion.

LOL, if that were the case, why are we even arguing? It's because we rarely ever come to the same conclusion, and thank god for that.

BTW I've said this over and over again, you shouldn't be competing against the institution. You really should be out-competing those who are dumber than you. May that sink in.

 

[Darc]

This above is a simplistic, 'made perfect for convenience for noobs' description of a channel.
In real life it seldom works that way.

View attachment 325361
Here's Bitcoin again, I love bitcoin for TA as it behaves to the TA rules very frequently, so in theory Bitcoin should be relatively easy to swing trade.
Above is a channel (or near channel), it's made up of waves but not simplistic textbook waves.
Next target should be + ~35,000 should it go for the top of the channel, however there are waves within waves, therefore channels within channels.
I use no waves or channels in my trading, neither 'textbook' S/R Levels.
If the mainstream crowd is doing it, there's a good chance it is pretty useless.

Al Brooks doesn't trade Bitcoin. He believes it tradeable using TA, but he can make more money trading the Nasdaq.

I agree with Al Brooks.

 

[tony.m]

So that means traders must come up with something to
improve the win rate from
1% to 40 to 50%.

Prayer, Coin Toss or Voodoo ?

 

[themickey]

Let me see if I've got this right:
Support and Resistance, does NOT work.
Trendlines and Channels, do NOT work.
Moving Averages, do NOT work.
Candlestick analysis, does NOT work.
Volume analysis, does NOT work.
Thanks.

My take....
They sort of work, but if one relies too much on them they can send you down the path of brokeback mountain.
S/R are prolly the most reliable on your list.

 

[themickey]

Al Brooks doesn't trade Bitcoin. He believes it tradeable using TA, but he can make more money trading the Nasdaq.
I agree with Al Brooks.

Hmmm....
I think Al Brokes is an armchair trader.

QQQ black, Bitcoin orange, percentage change, 3 years.

 

[themickey]

The market does not care if it is the same conclusion as someone else
with different means and/or methods.

Yah but I'm naturally lazy, I seek max output for min input.

BTW I've said this over and over again, you shouldn't be competing against the institution. You really should be out-competing those who are dumber than you. May that sink in.

I compete against myself, always looking for flaws and a better way.
With an engineering background I don't think of the market as people but a machine with a cunning coded brain.