Denise Shull Says Tape Reading Art is Real and Alive

Quote from marketsurfer:

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I think that is your problem, marketsurfer. You want so strongly to defend your own viewpoints that you ignore evidence of the contrary.

You know the industry better than me, but as far as I know, there are firms who actually teach and endorse technical analysis. Technical analysis is a wide field, but the common denominator is that it's a form for analysis that uses price and volume as input. That may include what happened less than a second ago.

There are many successful traders who use TA. Many posts their blotters in the P/L journal. Some you can find in Market Wizards (Marty Schwartz come to mind as one of my favorites). There are even acamedic papers that supports technical analysis.

You're welcome.
 
Quote from Laissez Faire:

I think that is your problem, marketsurfer. You want so strongly to defend your own viewpoints that you ignore evidence of the contrary.

You know the industry better than me, but as far as I know, there are firms who actually teach and endorse technical analysis. Technical analysis is a wide field, but the common denominator is that it's a form for analysis that uses price and volume as input. That may include what happened less than a second ago.

There are many successful traders who use TA. Many posts their blotters in the P/L journal. Some you can find in Market Wizards (Marty Schwartz come to mind as one of my favorites). There are even acamedic papers that supports technical analysis.

You're welcome.
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The market wizard you mention is from the 1980's! Any new info?

What are the names of the money management or Prop firms who teach chart TA as a viable trading method?

thanks, surf
 
Quote from marketsurfer:

The market wizard you mention is from the 1980's! Any new info?

What are the names of the money management or Prop firms who teach chart TA as a viable trading method?

thanks, surf
More...

What's so different today?

As I said, I don't know the industry in detail, but I know that SMB capital endorses and teaches technical analysis.

I don't know much about them though, but Brett Steenbarger mentioned them earlier and gave them thumbs up if I`m not completely mistaken.

I've read Brett Steenbarger's blog from start to finish and he is also a proponent of technical analysis. If he's not lying, he has worked with and is still working with prop firms and the hedge fund industry. He does not believe in "squiggly lines" as he calls them, but he does believe that the market is pattern repetitive and teaches TA in his blog.

Check out the P/L journal. It was probably better in the past, but at least one of the heavy hitters who's still posting states that he uses TA in his model.
 
Quote from Laissez Faire:

What's so different today?

As I said, I don't know the industry in detail, but I know that SMB capital endorses and teaches technical analysis.

I don't know much about them though, but Brett Steenbarger mentioned them earlier and gave them thumbs up if I`m not completely mistaken.

I've read Brett Steenbarger's blog from start to finish and he is also a proponent of technical analysis. If he's not lying, he has worked with and is still working with prop firms and the hedge fund industry. He does not believe in "squiggly lines" as he calls them, but he does believe that the market is pattern repetitive and teaches TA in his blog.

Check out the P/L journal. It was probably better in the past, but at least one of the heavy hitters who's still posting states that he uses TA in his model.
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I cetainly don't know everything, either. I can just go by what I have experienced and witnessed. I will email Brett to see if will clarify his position on TA-- I have much respect for him-- we both are close friends of victor niederhoffer--- thanks, surf
 
Quote from marketsurfer:

I cetainly don't know everything, either. I can just go by what I have experienced and witnessed. I will email Brett to see if will clarify his position on TA-- I have much respect for him. thanks, surf
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I seem to remember that, hence why I mentioned him. I also have much respect for him.

Would you please ask him in advance if you can post his answer here for the benefit of the rest of us?

And please make sure we're on the same page as to what technical analysis is when you ask him: "In finance, technical analysis is a security analysis discipline used for forecasting the direction of prices through the study of past market data, primarily price and volume."

This data can examined using charts, be tabulated for analysis without the use of charts, used as input in a quantitative model, etc, but as long as you're using past price behavior for analysis whether it happened a long time ago or a split second ago, you are by definition utilizing technical analysis.

Are we clear? :)

Thanks.
 
Quote from Laissez Faire:

I seem to remember that, hence why I mentioned him. I also have much respect for him.

Would you please ask him in advance if you can post his answer here for the benefit of the rest of us?

And please make sure we're on the same page as to what technical analysis is when you ask him: "In finance, technical analysis is a security analysis discipline used for forecasting the direction of prices through the study of past market data, primarily price and volume."

This data can examined using charts, be tabulated for analysis without the use of charts, used as input in a quantitative model, etc, but as long as you're using the past price whether it happened a long time ago or a split second ago, you are by definition utilizing technical analysis.

Are we clear? :)

Thanks.
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Yes, I did ask him to clarify his position here. Thanks! surf

PS-- my beef isn't with data, its with the TA chart readers-- not the data crunchers-- although I do believe that past price really never had much predictive ability-- even less now than ever...
 
Very interesting what my colleague Dr. Steenbarger says on the matter too. Would really appreciate the quote (if he allows that), Surf.
 
A chart is just visible representation of data. I use the data that shows up in the charts in a very specific way. I utilize charts but every entry and exit is based on the data within the charts. No "gun slinging", 100% objective data analysis.

And, as far as you saying you do not know everything (in a previous post), I'm glad you are finally starting to understand this. Only with an open mind will you be able to see things from new angles.

Quote from marketsurfer:



PS-- my beef isn't with data, its with the TA chart readers-- not the data crunchers-- although I do believe that past price really never had much predictive ability-- even less now than ever...
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Quote from cornixforex:

Very interesting what my colleague Dr. Steenbarger says on the matter too. Would really appreciate the quote (if he allows that), Surf.
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No quotes allowed, but Here is the gist of what he just told me:

"He is not a chart reader but he uses technical inputs like breadth and volume to conduct historical queries and system models. He finds TA to be a way of framing hypotheses, not a collection of conclusions"

With this clarification, I completely agree with him.

surf

My words here:
Charts create illusions and have no place in the real world of trading decisions--
 
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