Quote from wrbtrader:
I know for fact that NoDoji and Cornix do not "solely" use TA alone as if nothing else has any impact on their trade decisions based upon what they've said elsewhere in other threads about money management, broker platforms, discipline, trade management, trading experience and so on.
I do not put any weight on such statements unless they're using some serious automation trading.
That's why I say there's only "a few" that make statements as such.
Yet, you debate with many others that say they are profitable and use TA without you asking for any clarification if they use TA with any thing else especially those that clearly define themselves as discretionary traders.
My point, most traders do not discuss discipline, money management, position size management, capitalization, trade management and so on because these are not popular topics at trader forums. In error, most see such as boring discussions. In contrast, they primarily discuss their TA only especially if they're trying to gather an audience of readers.
Anybody that doubts the above can do a very easy test here at ET. Start two threads here at ET. One thread about trade management and the other about TA with charts. You'll quickly see which thread gathers the most replies and which one gathers the most arguments.
This is an issue from the foundation of trading. Every newbie that gets their first charting software...that vendor (e.g. eSignal, CQG, Sierra, Ninja and so on) talks about the bells & whistles of their charting programs...lots of TA stuff. Yet, do you see those charting vendors discussing "money management" to sell their products.
Simply, most traders are brainwashed or hypnotized into what they should be concentrating on out of the gates and eventually "some of them" will assume its the only thing they use...there lays the beginning of these debates about TA.
Another proof of the issue. Take a look at many of the trade journals here in the journal section...as soon as someone has a trade problem or ask for help...most of the replies are about tweaking the TA, tweaking the entry signals or whatever. Very little replies about all that other stuff that's arguably just as important or more importantly on any given trading day depending upon the trader.
No. Both corn and doji claim their TA can be automated--- if so, it's only TA at work not subjective reasoning or experience. Perhaps they have said other things--- I have no clue but that would be typical of stealth vendors.
Remove TA from the equation and the success factor would be equal. IF these folks are successful, and that's a big IF, it's despite TA not because of it.
Have you read Aronsons book about the truth of TA? What is your opinion?
