Does the chart have any value?

Quote from deadbroke:

Wrong! History always repeats itself - but each time it does the players are different, the time is different, the circumstances are different, so this throws the astute observer off the scent.

Haven't you heard or seen this being said or written? .... the same old patterns, over and over again, just repeating and repeating and repeating ...

in fact the above para is an entire chapter titled pretty much the same way in TAST9, the TA bible.
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I forgot an important point .... our founding fathers so wisely said that the one thing we can be sure of that will never change is Human Nature itself - they therefore stated that it would be unwise for America to engage in the affairs of other nations - something that our leaders have violated left and right.

what you are seeing on the chart IS human nature - in collective form - i.e. the collective imprint - this is why charts work - because humans repeat the same old shit over and over again.

Can you predict the future with the past? Well, not enough space here but one example :) the GREAT DEPRESSION was a CREDIT COLLAPSE. What did we do after it was over? We started doing the same shit all over again? So we had the collpase in 2008. So based on this, approx. 70 years or so after the next bottom we will have the same shit happen again.

There you have it. There's s whole lot more. But this ought to get one going.
 
Quote from deadbroke:

Wrong! History always repeats itself - but each time it does the players are different, the time is different, the circumstances are different, so this throws the astute observer off the scent.

Haven't you heard or seen this being said or written? .... the same old patterns, over and over again, just repeating and repeating and repeating ...

in fact the above para is an entire chapter titled pretty much the same way in TAST9, the TA bible.
More...

Great post! It's patterns, patterns, patterns. Let history be the guide!
 
Quote from bat1:

When I look at a chart all I see is the History the past
performance of the underlaying security not the future..

So if a chart can't predict the future what real value
does it have?
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Its value is in predicting the PAST perfectly. :)

And every single moment of the FUTURE instantly becomes part of HISTORY without an intervening time occurrence. What you are of course talking about is hundreds or thousands of moments into the future - how to predict these?

Answer: Extrapolation. And the chart affords one this ability nicely. Is it perfect? If it was, ET would be rolling in dough. But who is at fault here, the chart or the chart-reader? Personally I believe that the chart is a perfect tool in the hands of inept people like myself and other chart-readers. That is why prediction is a hard job overall. Its our inability to read properly that screw us.

:)
 
Quote from bat1:

When I look at a chart all I see is the History the past
performance of the underlaying security not the future..

So if a chart can't predict the future what real value
does it have?
More...

It has zero value. It's only for the math illiterate and left brain artist pretenders
 
Quote from dwpeters:

ALL data used to make investment or trading decisions are based on history, whether the data is fundamental, technical, quantitative, or a chart. Some find predictive information of value in historical data.
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Actually this is very wrong. Information had nothing to do with the past. Knowing is what works. Knowing before it happens.
 
Quote from Nastyrabbit:

Actually this is very wrong. Information had nothing to do with the past. Knowing is what works. Knowing before it happens.
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And how exactly do you know before it happens? Crystal ball?
 
Quote from Nastyrabbit:

Pure illusions. The sooner that is understood the easier trading gets.
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And you make this statement with what to back it up?:confused:
 
Quote from Nastyrabbit:

Actually this is very wrong. Information had nothing to do with the past. Knowing is what works. Knowing before it happens.
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Try that on your next job interview by telling your boss that there is no need to fill out the application showing 5 years of former employment history, that he should just look at you and know you are a star - and hire you. :)

what is likely to occur is this ...............


A bear taking a dump asked a Nastyrabbit
"Does shit stick to your fur as a habit?"
"Of course not," said the hare,
"It's really quite rare!"
So the bear wiped his ass with the rabbit.

:)
 
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