Can one get rich on stocks using technical indicators alone?

kut2k2 said:
Yeah, how dare TA be available for free! :mad: They should charge money, like Price Drivers! :D :p :D
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'Price Drivers'...vroom, vroom vroom` to Trading riches -=- :confused:
price_drivers.jpg

...all trading is is mainly looking at charts about 65% of the time, and the other 35% is thinking about fundamental reasons like economic reports. -- this world is not that complicated.
 
Diego443 said:
if you know basic stuff like avg volume, float,sector and maybe some news that is enough fundamental.

You should not come to the market to become rich. You should come to make good trades. If you coming to be rich, money controls you and emotions take over as soon as you are loosing.

Discipline, No emotions, Having a plan (risk management) - that's about trading
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Great points, agree with about 95%.

But fundamentals , they win in the end- as a trader said as he shorted Citigroup;NOT investment advice.NOR am i saying any should ever short big banks just because they tend to have lousy fundamentals, lousy customer service, lousy dividends, lose lawsuits-BIG time.Carl Ichan said [warned]the bulls try to run up shorts.; NOt a prediction .

Also,most all the whole world says north Americans are already rich.Amen and amen.
KEEP records[charts or whatever] of all your longs, all your shorts, all your trades, all your investments, including REALTY..........................................................................
 
wrbtrader said:
If you say "most" are useless...

Which ones are not useless and do you currently use any of the ones that are not useless ???
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To expand on the NO. If you take 20 or 30 of the most famous indicators of all time, attach 10,000 bars for say 100 financial instruments and evaluate their ability to objectively with no human involvement to predict future market behaviour you will find that statistically 97% have Zero ability predict, forecast or foretell anything at all. We did and they don't. This is a precise statement and applies only to exactly what I just said.

I have no doubt that someone will say "That is not right, I been trading a triple crossover MA, with a double RSI trigger blended with a Elliott Wave filter early in the week and an exit based on OBV or candlesticks and I've made a nice profit for 10 years". You probably have. But were you training objective mathematics or a mixture of intuition, your favorite indicators, a keen understanding of those stories in WSJ and 22 financial blogs?

People often don't really know why they act under uncertainty and will ascribe their actions to the paradigm they have adopted. I'm sure we can find folks that will swear that Buddha, Allah or one of the Christian Gods guides their trading decisions and Jesus gave them a 55% ROI last year. The Romans used to foretell the future by examining the entrails of goats and chickens.....and they conquered most of the known world and created an empire that lasted nearly a millenia. Not bad for chicken guts.


To verify what I have just said compute the ratio of money spent by folks with money, like a large fund, between colocating servers next to the exchange vs. developing indicator based trading systems. Who needs colocation if you can accurately forecast what the market will do tomorrow yet less 200 ms into the future?

Oh...Williams Percent R does have some predictive capacity.
 
After playing around with dozens of indicators over the years, there IS something different about Williams %R, although I haven't yet found a way to use it in a trading system consistently.
 
" Can one get rich on stocks using technical indicators alone? "

No, of course not!

She/He still needs to place both buy and sell orders!
 
luxor said:
After playing around with dozens of indicators over the years, there IS something different about Williams %R, although I haven't yet found a way to use it in a trading system consistently.
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It works pretty well when incorporated as one of 60 to 100 measures of market structural dynamics and pattern as input to Support Vector Machine modeling
 
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