Career as FX technical analyst/chartist

[Trading Education Buyer]

or just another one of the multitude of aliases. Albeit in this case, the writing profile does not fit as is does with Southampton.

Just when we thought the TA debates were finished, they get resurrected by allowing that troll back on the forum... Sad really...

Final t/a debate is here , it is resurrected , so if any of you want to discuss quality and how to use t/a , please do it professionally

https://www.elitetrader.com/et/threads/technical-anylysis-works-trend-trading-works.305316/

I have a life thank you, rest of your post I can not disagree with. But it is rather funny coming from you of all people. 1,748 posts in 3 months time? ET's second most ignored poster?

Double standard? reference your question "Which serious trader has time for this"?

I am not trading the low volume holiday's, your excuse?

I have a life thank you, rest of your post I can not disagree with. But it is rather funny coming from you of all people. 1,748 posts in 3 months time? ET's second most ignored poster?

Double standard? reference your question "Which serious trader has time for this"?

I am not trading the low volume holiday's, your excuse?

You are suffering many psychological brain wiring issues , if you can't trade now .Infact I don't think traders get many likes , because they are given by other accomplices and internet marketeers and forum police.

Today and this week is the time to take free lunches from the santa rally .My trades are done , they are already called and in my journal on Dax.My options sold are decaying and I am making profit.

Professional traders sit patiently and let premium decay , and use set and forget trades.

 

[learner2007]

Why don't you spend your time displaying an example that you use where TA really works and not just randomly at times but consistently.

It would be easy to show 10 such examples. But you would just say that there are 1000 such cases where it didn't work.
But saying what you did seems to be a fixed phrase for people on your side of the fence, and we have all heard it a thousand times. However, I have never even once seem people like you come out and show examples of how TA didn't work. I could show examples of failures. But as you obviously can't read price movement, you can't, can you? All you can do is say that what you don't understand doesn't work. Well, I don't understand gardening, but I don't say it doesn't work just because I don't know how to do it.. So, if you're so sure about what you say, show us, or stop talking through your hat in unrelated threads.

 

[Money Trust]

I've reached a point where I'm glad that people talk down on TA. More of an edge for me. And NO, I'm not gonna get into a debate about it as my P/L statement is all of the validation I need.

As for the original question at hand. I would think that you'd probably be better off offering your analysis to independent traders or small shops instead of going the institutional route. There's a demand for accurate analysis that creates low risk, high reward bets...despite what people on here would have you believe.

 

[faatshit]

I've reached a point where I'm glad that people talk down on TA. More of an edge for me. And NO, I'm not gonna get into a debate about it as my P/L statement is all of the validation I need.

As for the original question at hand. I would think that you'd probably be better off offering your analysis to independent traders or small shops instead of going the institutional route. There's a demand for accurate analysis that creates low risk, high reward bets...despite what people on here would have you believe.

Reason being I went the institution route is because it is probably the 2nd best option I have apart from being a trader at an institution. (which is not easy to land) I definitely have plans to be a full time trader but currently my capital is insufficient to provide a substantial return to survive on.

Being a technical analyst is not the final route/career but may be the best one for now. I do plan to take CFA to increase my value/open up more opportunities and of course during the entire process, still create a profitable record and build up my capital.

Thank you for your insight Money Trust.
Much appreciated.

Cheers and good trading!

 

[Southampton]

It would be easy to show 10 such examples. But you would just say that there are 1000 such cases where it didn't work.
But saying what you did seems to be a fixed phrase for people on your side of the fence, and we have all heard it a thousand times. However, I have never even once seem people like you come out and show examples of how TA didn't work. I could show examples of failures. But as you obviously can't read price movement, you can't, can you? All you can do is say that what you don't understand doesn't work. Well, I don't understand gardening, but I don't say it doesn't work just because I don't know how to do it.. So, if you're so sure about what you say, show us, or stop talking through your hat in unrelated threads.

First, thanks for keeping this civil. As you can see with NOBIAS, the religious fanatical fringe of TA, it gives a bad vibe to the entire business.

Second, you can't prove a negative--per your request above.

It's good to have someone here who actually worked in the business.

Hampton

 

[Southampton]

Reason being I went the institution route is because it is probably the 2nd best option I have apart from being a trader at an institution. (which is not easy to land) I definitely have plans to be a full time trader but currently my capital is insufficient to provide a substantial return to survive on.

Being a technical analyst is not the final route/career but may be the best one for now. I do plan to take CFA to increase my value/open up more opportunities and of course during the entire process, still create a profitable record and build up my capital.

Thank you for your insight Money Trust.
Much appreciated.

Cheers and good trading!

The CFA will get you respect with EVERYONE in the business. TA certificate may get you respect with 5%---

 

[Southampton]

I agree with the inappropriate username game "Marketsurfer (MS)" Let's be specific to eliminate any misconceptions. David Goodboy is a stealth vendor, who trolls this site for self enrichment.

He uses multi alias's for self promotion replying to his own posts how "helpful" and "valuable" the MS contributions are, bumping threads directing traffic to himself. He has admitted so on numerous occasions.

He has repeatedly linked to h (MS) w, however, one can assume it isn't profitable. He also had directly linked to his "ET compliation Book" on Amazon using an alias "Southampton (SH)" which we know now with certaintly is David Goodboy.



Blatant Shill Marketing - Don't kid yourself, it is directed towards the inexperienced and gullible members of ET.

He continually accuses others of being stealth vendors and calls for banning, rather hypocritical. Considering he has linked to an item he is selling. (Vendor by definition)







He should be held to the same standard of declaring himself a Vendor as everyone else.

I do follow the TOS as you mentioned, MS/SH has repeatedly violated those terms in the past and the resultant permanent ban. Which he has circumvented with a plethora of new usernames until mgmt either gave up herding cats or has come to an arrangement with him. This is of course managements perogative. I have asked on numerous occasions if this is the case, acknowledge it and I will go away. Until then I will continue posting my objections, which is my perogative.

Regarding the "Black Magic" I don't care if people do or do not believe in its usefulness. To each his own, but in the past almost every thread was deficated upon by MS/SH's anti-TA rhetoric and that is all this site became.

If you believe in MS/SH's Price Darts, his proprietary method of averaging down on a directional bias taking massive heat on the losing trades when wrong or too early. When right on minimal size because heh, don't need stops with proper postion sizing, which is a euphanism for miniscule size. By all means drink his Kool-aid (equivelant to your Black Magic term). Had a greasy burger, short SHAK (price dart magic).

Have an issue with me, by all means report me, ignore me as you wish...

Thanks for all the book promotion, mouse man! I couldn't pay for this kind of PR. Keep it up!!

 

[learner2007]

I've reached a point where I'm glad that people talk down on TA. More of an edge for me.

Exactly! And as one of the world's greatest traders once said "There will always be trends as long as there are people who can't read them".

I would think that you'd probably be better off offering your analysis to independent traders

Very true. Before the internet came along I spent every day in the broker's boardroom. Once you become known, individual investors will pay you anything for advice. I don't know what's required to set up an investment advisory service, but if the OP can provide worthwhile advice, it might be worth looking into.

 

[faatshit]

The CFA will get you respect with EVERYONE in the business. TA certificate may get you respect with 5%---

Not gonna be tactful but who cares if you get respect with CFA but it doesn't earn you money as compared to TA which gains little respect but makes you money.

Everybody trades differently and whatever works for each individual. I don't believe condemning any method.
If a particular method doesn't work for you, it doesn't mean it will not work for someone else and vice versa.

Cheers!

 

[Frederick Foresight]

Why don't you spend your time displaying an example that you use where TA really works and not just randomly at times but consistently.

You could say the same about FA, stats, etc. Regardless of how you define "consistently." Whatever decision criteria you use, you will lose everything unless you incorporate meaningful risk control, because you cannot remove the randomness out of uncertainty. Forget "probability." That's more wishful thinking than fact in the markets. The markets are more about uncertainty, which is an opaque and distant cousin of probability, and requires greater allowances for error. So if you can find a means of occasionally catching a move while risking relatively little, who cares what it's called? But I think that, on balance, you'd be hard-pressed to do so without considering preceding market data, especially the immediately preceding market data, if you are to achieve anything resembling consistency and tightly controlled risk in some form.

Bruce Kovner, who relied heavily on FA, had this to say:




He also adroitly observed:

"Technical analysis, I think, has a great deal that is right and a great deal that is mumbo jumbo… There is a great deal of hype attached to technical analysis by some technicians who claim that it predicts the future. Technical analysis tracks the past; it does not predict the future. You have to use your own intelligence to draw conclusions about what the past activity of some traders may say about the future activity of other traders."