Are you sick of technical analysis? I am...

[retaildaytrader]

For the last 2-3 months, I have been bombarded by charts written by people who think they know the market. Not only charts, but complex analysis such as the Elliott Wave theory and a heavy topping of indicators and bands. I have seen time and time again their charts and signals simply wrong and wrong some more.

I was using them at first, but then figured out quickly that none of it works. I am of the opinion now that only simple analysis of just looking at the chart and making an observation of whether its going up or down works...nothing else.

My thinking is the majority of people who post these complex charts and analysis are just bored at work, but are not really professional traders.

I have made more money by simply dumbing down then with all these complex things.

 

[R. Raskolnikov]

Not at all, its my own "TA' that enables me to trade well and for over a decade.

PS why are you being "bombarded"? Stop listening to others ideas and focus on what YOU know to be true about mkt behavior and go from there.

Quote from retaildaytrader:


Are you sick of technical analysis?

 

[NihabaAshi]

Quote from retaildaytrader:

...I am of the opinion now that only simple analysis of just looking at the chart and making an observation of whether its going up or down works...nothing else...

That's still technical analysis.

Mark

 

[TheAngryHermit]

Quote from retaildaytrader:

For the last 2-3 months, I have been bombarded by charts written by people who think they know the market. Not only charts, but complex analysis such as the Elliott Wave theory and a heavy topping of indicators and bands. I have seen time and time again their charts and signals simply wrong and wrong some more.

I was using them at first, but then figured out quickly that none of it works. I am of the opinion now that only simple analysis of just looking at the chart and making an observation of whether its going up or down works...nothing else.

My thinking is the majority of people who post these complex charts and analysis are just bored at work, but are not really professional traders.

I have made more money by simply dumbing down then with all these complex things.

Agreed. I gave up on candlestick patterns and stopped bleeding cash.

If a stock is going up briskly, it behooves you to buy it and vise versa. Sounds simple (and it is), but it works...or you could have a drunken beggar flip a coin for you.

 

[tomdavis]

TA works when applied properly. Keep it simple. Watch price AND volume. Persist and you will find what works for you.

 

[Pension_Admin]

I like technical analysis but I am just sick of all those MA, MACD, stochastic, and all other technical indicators derived from price.

Sometime it make me wonder how some people trade with all those neon lines on their screen.

 

[R. Raskolnikov]

LoL, so true!

Why do people ONLY think Technical Analysis is one of a few "indicators" or chart patters?

People, TA is ANYTHING you use to place trades that ISN'T Fundamental Analysis. Very simple, trying to keep it very simple here

Quote from NihabaAshi:

That's still technical analysis.

Mark

 

[retaildaytrader]

You know what I mean though. Using a moving average is one thing and maybe a few simple lines or patterns, but some of this stuff thats out there is off the wall and never seems to work.

 

[Topper]

Check out the gann indicator at freestockcharts.com sometime. It's kinda cool.

 

[maxpi]

Quote from retaildaytrader:

For the last 2-3 months

I guess this is what happens, a whole quarter of a year exposure to TA and that's it, end of discussion... you do not have a clue how happy this is making me feel... if that is typical of thousands of traders, wow, my future is so bright I have to wear shades..

I think this is typical of thousands of traders actually. There are all these people on ET from time to time that really feel strongly about TA and how it's useless and boring.. they would rather roll the dice THEIR WAY... they must have spent time with it, not enough to get started really, said "THIS IS HARD!" with a big whiny voice, and moved on... otherwise, why would they hate it so much? If they never looked at it but were convinced it didn't work, they wouldn't feel so strongly about it... :eek: