Does Technical Trading Really Work?

Well, the truth is that only YOU ( collective) know if you have been consistently profitable with what u are doing.

All the posing and posturing on elite will not change the fact about what u know deep in your soul.

My knowledge and reasoning tells me there is something radically wrong with the way the price action and most TA people describe how they do what they do. Could i be wrong?

Sure, but evidence ( not et claims) tells me differently.

Peace. Surf
 
candles said:
Peasants! I make 10 points in the first few hours most days
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To make 10 points average every day you have to be very smart.
To make them in the first few hours you should be very very very smart.
But smart people will never post that they make 10 points a day.
So there is something not logical in your statement.
Let me guess what is not real in your statement......

Did you not confuse trading with a pinball game?
 
Mtrader said:
Did you not confuse trading with a pinball game?
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Maybe it's just a matter of skill.
From reading, it certainly sounds like Candles. IamNobody, hitchslap, Pauk, NoDoji can pretty much make as many points as the market makes available.
I find it unbelievable, too, but who knows what's possible!! There does seem to be lots of people who at least appear to have a razor-sharp edge.

I think it's been made clear that ET isn't the place to learn about trading as nobody will divulge anything useful for fear of diluting their edge. We just kind of have to take peoples claims at face value.
 
dratsum said:
There's a difference in meaning and intent between the statements .....

All TA is objective.
All TA works the way it's suggested it should work.

It should be easy to recognize the 2nd statement is false. However the fact that a large portion of TA is useless doesn't mean it's not objective. I'm sorry if there's a communication problem here but distinguishing the differences between objective and subjective have been an important part of my life for a v long time. Saying TA is objective has nothing to do with whether a specific objective form of TA is viable or not.
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I get your meaning. But if by objective you mean there's only one way to interpret a given TA technique, you know that's not always the case. Especially for pattern recognition. Even the classic definition of an uptrend as "higher highs and higher lows" has exceptions the acceptance of which could prove to be a very expensive mistake. I've only found one definition of trend which is totally objective but to state it in a public forum would be giving away too much.
 
Eddiemorra said:
Maybe it's just a matter of skill.
From reading, it certainly sounds like Candles. IamNobody, hitchslap, Pauk, NoDoji can pretty much make as many points as the market makes available.
I find it unbelievable, too, but who knows what's possible!! There does seem to be lots of people who at least appear to have a razor-sharp edge.

I think it's been made clear that ET isn't the place to learn about trading as nobody will divulge anything useful for fear of diluting their edge. We just kind of have to take peoples claims at face value.
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Trust me when I say this, Schizo is uncomparable with IAN, Schizo is in & out of trades exploiting next possible oscillation, IAN has an edge that takes him into a trade and keeps him in it until the move is over without being shaken out. That's an edge!
 
Eddiemorra said:
I think it's been made clear that ET isn't the place to learn about trading as nobody will divulge anything useful for fear of diluting their edge.
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ET is an excellent place to get ideas you just have to test them for yourself and when they don't work apply common sense until you're able to make them work.

My observation is you're frequently posting trades in realtime and have learned whatever you could from that experience up to this point. I don't know if continuing that can lead to more learning if you continue but from what you've said about working at this for 6 years I would like to see you succeed. ...imo only one out of 10,000 who try xtrmly hard make it. The other 99.99% fail and as I said I'm guesstimating this based on those who try v hard, not from some other category of the population.

So you need to do everything you can to separate yourself from the other 9,999 who are likely doing everything you're doing and trying just as hard or harder. If you want to believe it's more like 5 out of 100 who succeed I won't argue that point but in my experience those stats include faulty data which I'm unable to elaborate upon and none of this is really meaningful anyway unless it encourages you to make the effort to be the 1 who stands out from what imo is a v tough crowd to b trying to compete with.
 
romik said:
Trust me when I say this, Schizo is uncomparable with IAN, Schizo is in & out of trades exploiting next possible oscillation, IAN has an edge that takes him into a trade and keeps him in it until the move is over without being shaken out. That's an edge!
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Not to go off subject, and certainly no disrespect to IAN, but schizo is pretty much the only poster on the whole site who has impressed me with his realtime calls. That's all I have to go on. I tend to pay special attention to the posts of schizo for that very reason.
 
dratsum said:
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The only advantage I have over some people is probably that most people couldn't afford to trade and watch the markets for 12 hours per day as they'd have jobs and responsibilities!
I've sacrificed any sort of 'career' and so can just about get by with what I make from a small side business, so I've been free to study and trade all day every day for teh last 6 years. Hoping it'll pay off one day!!
 
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