I can only reply from a common-sense perspective....
If it did not have validity, it would have died off decades ago.
Am I not right?
Edward O. Thorp on charting
- Thread starter truetype
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If it did not have validity, it would have died off decades ago.
Am I not right?
You are too stupid, you need to admit to yourself your brain is not wired to be a trader.
I will have to back you on this one.
TA is really a fools gold.
PA is not AS bad, but none the less can also stop the trader from doing what needs to be done.
If one understands what one is trying to achieve, then the objective becomes much clearer, and thus the outcome more probable.
A new one is born every minute in the big easy money game
No, not at all. Look at astrology as an example--the insideous thing about price action trading is that it appears to work- heck you can even make money using it if u guess right and use good trade management. But the underlying premise is flawed. I was fooled by it for years until i started learning from verified succesful traders and learned to think critically.
Surf
And now that you've seen the light, you can pick 1 out of eight like clock work.
Well, all I know is.... the more ya know, the better off you are.
I love fundamental analysis. Peter Lynch rules. Long term.... there is no doubt. Fundamentals win every time. Rambo posted something to this effect yesterday and I strongly agree.
But there also is no doubt....T/A works for short term trading on highly liquid instruments barring macro events. Its all math. I certainly wouldn't write it off, especially knowing that that is what coders around the world are coding into their algy's. This stuff defines direction.
You're the one who wrote "Beat The Machines". How can one beat the machines without a thorough understanding and acceptance of how the machines work? Pissing in the wind is a losing proposition when fighting billions of dollars daily. You should embrace it all Surf and pontify accordingly. I would. Because its real and it exists.
Orrrr..... write off today's HFT world and do the smart thing to amass wealth....Buy and hold quality stocks with incredible long term growth prospects, exceptional management, and sound balance sheets.
Long live Peter Lynch.
I respect your opinion but HFT has nothing to do with chart price pattern recognition. I definitely agree with your last paragraph. surf
Trading / investing via fundamentals alone is a slow way of making money.
What about Warren Buffett you may ask.
Warren is the exception rather than the rule. Has photographic memory and maths astute.
Besides that, I believe he is well connected to inside information.
If you trade via fundamentals you will continually be riding the prices up and down resulting in something not much better than prices slightly over flatlining.
Try and get true fundamentals on stocks. Not gonna happen ever!
Lynch took 18 MM and turned it into 14 Billion over 12 years in the 1980's.
Is it a new game now?
That's for you to decide.
I already know.
If you are trading fundamentals now, you wouldn't be trading.
Numerous hedge funds not performing above average now because they have been sidelined due to "too expensive".
Fundamentals work best after a market has been slammed, but so does TA.