Do TA is a bullshit ?

[schweiz]

It is indeed clear that you are a young "trader" that needs advice and mentorship. You need a lot of it.
The article is BS. And the info on your profile is probably also fake.

Who is F.S.Comeau?
"On Tuesday, a day trader allegedly took gambling to a whole new level. And, if his act was in earnest, he lost big.

According to MarketWatch, Canadian investor F.S. Comeau bet his last $249,000 against Apple Inc. AAPL in an attempt to reclaim $2.5 million lost in poor investments. At the time of the trade, shares were valued around $122, and MarketWatch reported that an increase of just $6 would deplete Comeau’s savings.

Apple shares shot up Tuesday after-hours when the tech giant blew out its Q1 earnings estimates... and Comeau lost significantly."

Here is the full story: https://www.benzinga.com/news/earni...to-short-apple-earnings-pukes-up-life-savings

 

[Simples]

 

[padutrader]

why the 50sma? Why not 51sma or 49sma?

the 50 ma is just direction of the intermediate trend..you may use any of 30 35 45 46.5 you may even see this by eyeballing. using it as buy and sell signals is bull shit

 

[tomorton]

I agree - most of TA is just plain BS. E.g. why the 50sma? Why not 51sma or 49sma? It works just because other people are using it - a self fulfilling prophecy.

Depends what you use it for.

 

[padutrader]

Depends what you use it for.

yes if you using to determine the general direction of the market how can it be bullshit

 

[qxr1011]

TA is not BS, most TA students- are....

 

[vanzandt]

It is indeed clear that you are a young "trader" that needs advice and mentorship. You need a lot of it.
The article is BS. And the info on your profile is probably also fake.

Who is F.S.Comeau?
"On Tuesday, a day trader allegedly took gambling to a whole new level. And, if his act was in earnest, he lost big.

According to MarketWatch, Canadian investor F.S. Comeau bet his last $249,000 against Apple Inc. AAPL in an attempt to reclaim $2.5 million lost in poor investments. At the time of the trade, shares were valued around $122, and MarketWatch reported that an increase of just $6 would deplete Comeau’s savings.

Apple shares shot up Tuesday after-hours when the tech giant blew out its Q1 earnings estimates... and Comeau lost significantly."

Here is the full story: https://www.benzinga.com/news/earni...to-short-apple-earnings-pukes-up-life-savings

We watched that guy's video live here at ET (we had a thread going), he streamed it on Youtube as the earnings came out.... It was hilarious... he was wearing a Wolfman mask and howling.... until it started climbing... then the video feed just shut off. https://www.elitetrader.com/et/threads/redditor-yoloing-on-aapl.306307/page-5

 

[Turveyd]

TA Works and it makes some people a lot of money, that'll confuse you all.
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It gives trading a belief system which opens the ability to teach TA and therefore profit from teaching TA. if it worked the person teaching it, would be just trading and be rich already.

Simples!!








It gives a teachable

 

[murray t turtle]

I agree - most of TA is just plain BS. E.g. why the 50sma? Why not 51sma or 49sma? It works just because other people are using it - a self fulfilling prophecy.

%%
I see your point;+ that's like saying why not a 13 inch or 11 inch ruler, whats with 12 inches??I prefer a 50 ema, 49 would cost more commissions.. HEY turtle learner; TA is the study of price + volume, all look/ study @ that= unless one is stupid enough to never look @ monthly statements, price fills.......... LOL

 

[SunTrader]

Think you are missing the point .... by a mile. Or at least by a 12 inch ruler.