MACD is the most ingenious TA method ever devised. It all depends on how you view/use it.
In my hands, a basketball is worth maybe $1M, but in Jordan's hands, that bball is worth $500 Million (his approximate net worth).
Another trader searching for Mentor, but....
- Thread starter blackblame
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MACD is the most ingenious TA method ever devised. It all depends on how you view/use it.
In my hands, a basketball is worth maybe $1M, but in Jordan's hands, that bball is worth $500 Million (his approximate net worth).
Price Action (with or without Volume), Support / Resistance Levels, Pivot Points or Price Momentum all fall under Technical Analysis. Unless these 'highly successful' scalpers / daytraders trade book value, shares float, earnings per share or some other form of Fundamental Analysis, they too trade using Technical Analysis. Indicators aren't the only form of Technical Analysis. In fact, one doesn't even need a chart to use Technical Analysis.
- Spydertrader
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okkkkkk
Not for some of us, it doesn't ... Speak for yourself. Price action works for many, TA fails for most.
Price Action is a subset of Technical Analysis. Debate semantics all you like, but this fact doesn't change.
- Spydertrader
It doesn't matter. As long as you use Price Action profitably then what the point if it falls under TA or FA?????
I think Price Action has the last word of all existing or imaginable methods. You won or lost because of the price, right, not because of news, fundamentally change in the company, etc.
I think Price Action has the last word of all existing or imaginable methods. You won or lost because of the price, right, not because of news, fundamentally change in the company, etc.
Given your endearment with Hersheyism, your word is highly suspect.
Many think Price Action is NOT a subset of Price Action. Your arguments to the contrary ("because you say so") are quite unconvincing
This is not semantics, this is people who realize that loading up the chart with lines and arrows, dots and oscillators, whistles and bells, is the direction that the lemmings go. Hershey is just a fine example of razzle dazzle.
Since probably 90% of traders seem to prefer TA, and it is estimated that 90% of people lose their trading capital, that would be my opinion of it.
Many of the traders who are successful here, got so through a lot of screen time.
Hey TraderZones, actually Price Action most definitely is a subset of Technical Analysis ... it is in fact, the first and most purist form of Technical Analysis which we traders have. When coupled with volume study (however the trader interprets that stentence) it ist one of the most profitable ways to trade the market.
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"In its purest form, technical analysis considers only the actual price behavior of the market or instrument, based on the premise that price reflects all relevant factors before an investor becomes aware of them through other channels."
Definition of Technical Analysis
Good trading.