No doubt there's more scamming in TA than in QA. As far as quackery, I'm not so sure. As I said, they start with questionable assumptions and that's certainly a form of quackery: assuming that their mathematical models are applicable to the real world when serious scrutiny shows otherwise. They are more concerned with having pretty equations that are solvable than getting real and practical solutions to a less-than-analytical trading reality.Quote from trader#21:
Other differences:
-Among all experts/analysts/gurus, there are 80% quacks in TA compared to a manageable <25% in QA
-Among all spam/scam, it is 95% in TA while a less formidable 50% in QA.
A little research will tell you that even the MTA has scam artists as half of its core committee members.
Chartered Market Technician
- Thread starter billsafari
- Start date
go back to archipelago and come forward, the electronic clearing leaves everyone with a drivers license number so to speak,they were bought up by different houses(morgan,gs,etc) if you can track all the trades for the day and surmise who went long,short ,opening or closing a position,apply a little math to the how many open longs ,shorts at one time,equate it to max speed of an average car or any other like analogy ,you can quant all the intraday moves,estimate max avg long or short ,by moving the market and scaring the bejesus out of that flock of sheep and chase em the other direction ,you see it most days on the close,now take those drivers licences and break down the size traders and do some more figuringQuote from kut2k2:
I disagree with that analogy. TA admittedly ranges from the ridiculous to the sublime but that's because it includes literally everything involving analysis of price action and/or volume action. But unlike astronomy, QA is based on questionable assumptions. QA starts with assumptions of random walk, normality conditions, etc. all of which have been shown to be false for real-world price series. Most of QA is no less like astrology than most of TA is (excepting of course that portion of TA that is directly based on astrology
If trend following is ta then there are plenty of examples. John Henry owns the Boston red sox and Liverpool FC is a trend follower.