TA is definitely a scam like the zodiacs. But quantitative trading is not and I am convinced after following the posts in the price action lab blog. .Read the post "New warning signs" just one day before the correction started. Quant trading can uncover edges but it takes a lot of hard work, much more than most people can handle or can do. Those who are majority must stick to TA.
hmm.no edges in the markets
- Thread starter chimera
- Start date
You make money trading? I don't believe you. Either prove it with live calls or it's just empty talk.
See how annoying this gets?
See how annoying this gets?
Quote from galvinlee888:
The "beauty or Scam" of the TA is that you can have two way stories, e.g. when price hit any S/R or channel or anything, you can either long or short (aka reverse or continuous of previous movement), but you can't tell until "after the fact", this is why all the TA guru here only tell the story "after the fact".
Bingo!--- very well stated. This is why the TA price action folks will never post before the fact calls or participate in a combine like controlled experiment. TA always works in the past. In fact, the patterns and price CAN only exist in the past therefore the idea is a logical fallacy for real time trading decisions from the start. surf
Profitable since 2002? I'll believe it when I see the spreadsheet.
You hit the point, quantitative trading is real and this is the reason why the institution that I worked before hire hundreds of PhD to work on this. The algorithm is super complicated and I will not say anything in public forum.
If your algorithm uses statistics generated by market trading as inputs, then the algo uses TA.
Pattern forms. It is now in the past. The past is 5 seconds ago. You enter the market now and participate in movement happening now.
> Pattern signals chance of known future movement.
> Trader enters market in present moment.
> Market moves in accordance to traders direction or against.
> Trader exits market with a loss or a gain in a present moment.
> You are stupid.
TA could be easily disproved if one could point out patterns on a visual chart and say, see, no pattern is ever proceeded by movement in price. Some how you believe stating that by the time they are fully formed they are now in the past so cant be acted upon is some sort of case against TA when all it does it highlight your complete inability to trade.
Your famous YM top that could not be breached this year was in the past by the time you acted upon it, it was not a pattern but it was in the past, so why were you trading it?
I did make a few live calls in ET (do your own search) which are completely non TA related.
The annoying part is when I am in profit, there is always naysayers says like "anyone can make money in this market", "you are lucky this time" and etc completely pi** me off.
For those who interest in the real discussion, please IM me.
Note: TA guru, vendors or educators please stay away from me !!
Quote from R. Raskolnikov:
Some guy just tells you he has a "real" method and you believe him without asking for any proof? This doesn't sound like your MO at all
P.S GalvinLee888 ran when challenged FYI.
Basic tactics. When someone agrees with MS, obviously no proof is needed - he could be talking about flying pigs and MS would nod in agreement.
When you disagree, you have to prove it and even if you do, it's never good enough.
Anyway, enough of all this arguing with an used phone salesman.
So you are suggesting that TA traders make live calls so others can treat them the same way as they did you? Does that make any sense?