hmm.no edges in the markets

[austinp]

Quote from marketsurfer:

You are not fully understanding, so I'll explain. My argument is with TA, the self proclaimed price action traders who claim edge exists by watching price gyrations of a single instrument on a chart. These folks claim to rarely have losses and lure noobs to books and other snakeoil to learn these methods. Someone has to warn against the absurdity of these claims. There will and can never be edge by looking only at a chart for intraday trading

Investing , stat arb, etc. sure it can be profitable.

surf

I personally trade with government dats reports, news releases and weekly fundamental inventory reports. I spend hours and hours and hours each night sifting thru that data, arranging it in assumed order of importance, jotting down notes and calling around to get a "feel" for what everyone else thinks. Then I watch CNBC around the clock until my eyes bleed and commercials are memorized word for verse. After that, every trade is pretty much just a summarized, wild-ass guess from the whole kit & caboodle there.

Isn't that what all individual traders are supposed to do? It'd be nice if we could simply ignore all that, sit down at the charts whenever we begin our workday, and trade what we see as price-action guides us to where it intends to go

 

[marketsurfer]

TA makes sense for illustrative, descriptive use. I never said visual use-- I also agree it makes sense to use it for contextual purposes. But as a real time trading tool, it makes no sense.

 

[marketsurfer]

Quote from austinp:

I personally trade with government dats reports, news releases and weekly fundamental inventory reports. I spend hours and hours and hours each night sifting thru that data, arranging it in assumed order of importance, jotting down notes and calling around to get a "feel" for what everyone else thinks. Then I watch CNBC around the clock until my eyes bleed and commercials are memorized word for verse. After that, every trade is pretty much just a summarized, wild-ass guess from the whole kit & caboodle there.

Isn't that what all individual traders are supposed to do? It'd be nice if we could simply ignore all that, sit down at the charts whenever we begin our workday, and trade what we see as price-action guides us to where it intends to go

I'll say your profits are due to great trade/ money management. Not the entry.

surf.

 

[dev]

Quote from marketsurfer:

TA makes sense for illustrative, descriptive use. I never said visual use-- I also agree it makes sense to use it for contextual purposes. But as a real time trading tool, it makes no sense.

*yawn*

I can't play guitar very well at all.
If you booked me to play live, you better bring plenty of tomatoes.

It doesn't therefore follow, that all guitars are worthless shit, and all guitar players are just bullshitters.

Surfer, you're incredibly boring on this TA thing. Seriously.
To me, it just looks like you can't stop bitching about the stuff you can't do.

The phrase 'sour grapes' springs to mind?

 

[stock777]

those that know, aint sayin.

they dont even sell it, too easy to steal.

anything you see or read is guaranteed garbage.

any even if it isnt , you're too dumb to tell the diff.

 

[Josef K]

Quote from marketsurfer:

I'll say your profits are due to great trade/ money management. Not the entry.

surf.

And you have no grounds for making that statement.

 

[Rodney King]

Quote from wrbtrader:

In addition, surf runs around here recommending (promoting) several vendors

Uhhh, aren't you yourself a vendor of TA study materials, as discussed earlier in this thread? Am I missing something?

 

[sheda]

Quote from marketsurfer:

I'll say your profits are due to great trade/ money management. Not the entry.

surf.

The most efficient way in terms of time and capital to great profits are:

Entry > Movement in your direction > Managment > Exit. Entry is vital on short time frames - it cant be argued against.

 

[NoDoji]

Quote from austinp:

I personally trade with government dats reports, news releases and weekly fundamental inventory reports. I spend hours and hours and hours each night sifting thru that data, arranging it in assumed order of importance, jotting down notes and calling around to get a "feel" for what everyone else thinks. Then I watch CNBC around the clock until my eyes bleed and commercials are memorized word for verse.

You know, Austin, when I shared these advanced tactics with you a while back, you promised you'd never speak them aloud, especially in a public forum! I trusted you!

 

[bighog]

No one was supposed to reveal the "teaspoon" method for CL reports. :eek: