Does Technical Trading Really Work?

[curiousGeorge8]

Technical trading based on statistics does work, at least till now.

 

[Buy1Sell2]

As a day trader, I use charts because I am not smart enough nor do I have the time to figure out the meaning of life every time I take a position.

and you don't have to

 

[Scataphagos]

and you don't have to

K.I.S.S., of course.

I remember someone saying years ago, "If you can't explain what you're doing in 10 words or less, you're probably wrong."

Proper TA trading is "intellectually easy/simple", but psychologically difficult. You often feel like you're stepping in front of an onrushing train.

 

[Chris Mac]

Well, posted 2 weeks ago. +13% since then. And I am again short today. Thx to TA.
TA helps you to make scenarios and to trade with high return / low risk.

CM

 

[Chris Mac]

Updated graph for SXAP, with new target for the coming month (-15%/-20%?)

CM

 

[speedo]

K.I.S.S., of course.

I remember someone saying years ago, "If you can't explain what you're doing in 10 words or less, you're probably wrong."

Proper TA trading is "intellectually easy/simple", but psychologically difficult. You often feel like you're stepping in front of an onrushing train.

That well sums it up. It's important to keep one's charts to where you have a signal or you don't. What you don't want are charts so complex that you can make a case to go long or go short. The next signal may or may not work but it must be clear.

 

[Scataphagos]

That well sums it up. It's important to keep one's charts to where you have a signal or you don't. What you don't want are charts so complex that you can make a case to go long or go short. The next signal may or may not work but it must be clear.

Years ago I recall some big shop... like Merrill or somebody... had a "trading department". Every Monday morning, they had a meeting... and if you were holding a loser, you had to explain to the group why you were holding it.

As you can imagine, traders didn't like explaining why they were likely wrong and therefore looked stupid to everybody... so they sold out of their losers before the meeting. That of course encouraged "stop discipline"... essential to trading success. The boss said, "those Monday meetings saved us $Millions".

 

[volpunter]

Are you people in this thread really THAT STUPID? Seriously, have not several of the exact kind of threads popped up just within the past 72 hours? I concur with another poster on page #1, this site has lost most of its attraction. This is outright retarded.

 

[volpunter]

I hope that is for your own and that you do not sell this BS to your customers within your Global Asset Management arm of XXXX.

Updated graph for SXAP, with new target for the coming month (-15%/-20%?)

CM


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[speedo]

Years ago I recall some big shop... like Merrill or somebody... had a "trading department". Every Monday morning, they had a meeting... and if you were holding a loser, you had to explain to the group why you were holding it.

As you can imagine, traders didn't like explaining why they were likely wrong and therefore looked stupid to everybody... so they sold out of their losers before the meeting. That of course encouraged "stop discipline"... essential to trading success. The boss said, "those Monday meetings saved us $Millions".

Yeah, you don't want someone rationalizing a bad trade but on the other hand, many of our winners spend some time in the red. I used to talk myself out of staying in due to perceived weakness (or strength if short) after the entry or lengthy time in the trade but I've found the best results over time is to stick with a trade that has not violated my stop.