Correct, so let me give a short answer and we can move on:
Nothing works all the time. Some TA works some of the time. Most of us just disagree about the some part.
Do TA is a bullshit ?
- Thread starter TurtleLearner
- Start date
Correct, so let me give a short answer and we can move on:
Nothing works all the time. Some TA works some of the time. Most of us just disagree about the some part.
I would rephrase.
TA is a medium, method of analysis, upon which trading method can be built.
TA works (applicable) all the time.
Trading methods on another hand have their limitations: the best do not work all the time, the worst do not work at all.
And of course the traders have often even more limited abilities in properly applying their own trading method.
Here is the secret about technical analysis revealed -- how to become a
trillionaire (I think Nigam Arora says this in a jest.) This article is insightful especially for those new to technical analysis.
https://www.marketwatch.com/story/w...ular-timing-indicator-in-us-stocks-2018-05-04
trillionaire (I think Nigam Arora says this in a jest.) This article is insightful especially for those new to technical analysis.
https://www.marketwatch.com/story/w...ular-timing-indicator-in-us-stocks-2018-05-04
I'm really sorry to hurt your belief , I haven't said that I'm not a young "trader" as you mention and I don't know the fact here cause I even mention it in the thread and I also know that Comeau was a scam , he also write a book where he explains all about his troll(and it was a demo account not a real one Sir) .
I just take the funny picture of his blog but it doesn't discredit the subject that's still relevant (it's not because X do something does something about Y that we don't need to talk about Y and focus only on X ).
Finally what's wrong with my profile ? the fact to give true information is bad or would you prefer that I call myself Ed Seykota (someone that I'm not , just to make pleasure at all member here ?) . Make a statetement about people just because it's affect your belief isn't objective at all
The 200EMA is of some help but no trader should use it as a binary indicator between long and short, or between long and cash. This is purely for the guys who read the Sunday business news and phone in an order late Monday morning before they leave home in the Volvo for golf.
You realise sma's and ema's arent technically TA there trend history indicators.
TA is drawing lines support resistance and reading candle stick patterns, which makes reading tea leaves seem sane.
MA's work for stock swing trading on a D1 chart, lived off that a long time ago for a while.
Daytrading FX and index's never get it to work, years spent on it, too many traps, strong days it works, gives false hope.
I prefer envelopes to see channels they highlight, markets chop most of the time, so chop ie range with a slight directional bias, mix the 2 the right way and hey presto profits
TA is drawing lines support resistance and reading candle stick patterns, which makes reading tea leaves seem sane.
MA's work for stock swing trading on a D1 chart, lived off that a long time ago for a while.
Daytrading FX and index's never get it to work, years spent on it, too many traps, strong days it works, gives false hope.
I prefer envelopes to see channels they highlight, markets chop most of the time, so chop ie range with a slight directional bias, mix the 2 the right way and hey presto profits
@TurtleLearner, it's possible that this current thread may also help/interest you.
You realise sma's and ema's arent technically TA there trend history indicators.
TA is drawing lines support resistance and reading candle stick patterns, which makes reading tea leaves seem sane.
MA's work for stock swing trading on a D1 chart, lived off that a long time ago for a while.
Daytrading FX and index's never get it to work, years spent on it, too many traps, strong days it works, gives false hope.
I prefer envelopes to see channels they highlight, markets chop most of the time, so chop ie range with a slight directional bias, mix the 2 the right way and hey presto profits
I'm not going to rise to this bait.
Some of the richest traders alive today & through history used classic T.A.. They also used outstanding trade/risk mgmt and had the right mind set (patience, discipline, confidence, guts, focus, consistency, being able to adapt, self awareness, self starters, independent thinkers, etc).
The dim wit that declares T.A. does not work also claims to have mastered it in an hour, the instant gratification types should go to a casino. Classic T.A. is a skill, like learning how to be a master electrician - your always learning, honing your skills no matter how long you have been doing it or how much you already made.
There are many different techniques that winning traders use - what they all have in common is strong trade/risk mgmt and the right psychology, entry signals are the least important yet it is what novice & experienced losing traders obsess about.
Classic T.A. is not about entry signals to begin with - it's about identifying the path of least resistance and observing the behavior of the herd.
The dim wit that declares T.A. does not work also claims to have mastered it in an hour, the instant gratification types should go to a casino. Classic T.A. is a skill, like learning how to be a master electrician - your always learning, honing your skills no matter how long you have been doing it or how much you already made.
There are many different techniques that winning traders use - what they all have in common is strong trade/risk mgmt and the right psychology, entry signals are the least important yet it is what novice & experienced losing traders obsess about.
Classic T.A. is not about entry signals to begin with - it's about identifying the path of least resistance and observing the behavior of the herd.
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