So... you think some TA trader deserves to go through the hassle and expense of an audit just to satisfy your smug ass?
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How to become better at Technical Analysis?
- Thread starter hekktor
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So... you think some TA trader deserves to go through the hassle and expense of an audit just to satisfy your smug ass?
No,but if someone unequivocally claims that Price Action is the be all end all, they should be able to back it up.And if they cant/wont,buyer beware...seems reasonable
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i can do that - what would prove it to you?
with this one exception below i have never used anything but price action to trade. on the flip side i am positive that if all i had was fundamentals i would never be able to make it unless you faded all news.
i have always traded only price action 911 i was long the sp massively when the first plane hit, myself and a partner were talking on the phone and we realized 30 year bonds had not reacted and so we bought like crazy cause at that point we had nothing else to lose. the second plane then hit and the rest was history. i maintained a 30+% drawdown and within a month of the market reopening i recovered fully.
Why does anybody have to "prove anything to you"? People are only going to try to "prove" themselves when there is an upside for them to do so*. ("Proof" is expensive, in case you don't realize.) Maybe they want you to subscribe to their advisory or invest in their pool of funds. Who else would bother with the "proof".
*Years ago I participated in the US Investing Championships in the hope of establishing a track record of performance to attract AUM in order to collect management fees.
I don't claim "Price TA" to be the "end all". There are perhaps a half-dozen "ways to skin the market's cat". Price TA is only one. It's the one I glommed onto years ago... I think it's the easiest to understand and execute. (We all know Buffet tries to buy "undervalued companies". I know of another big player who trades big positions in options who trades "today's news".. and claims "it's the best way")
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I'm surprised more vendors don't do this. But then they are educating, not trading.
Did it help to attract AUM.
Yes. In 1994, I won 3-categories. (I'd had 2 other top-10 results in prior years). I estimate that the contest was essential in my attracting new clients worth ~$2 Million in management fees. Seems it took them that long to conclude that I actually did "know what I was talking about".
Ther's a problem. If you "hold yourself out to the public for your performance" in the market for soliciting fees from investors, you need to "validate your track record". In the eyes of the SEC, "you can't claim ANYTHING unless you disclose EVERYTHING". Well, NOBODY wants to disclose "everything... their good years and their bad"... so nobody does.
If a financial source reports your results... that's one thing. If YOU claim results, that's different.
I know of this. I was in my earlier years an RIA and CTA. I've had PLENTY of regulatory compliance.
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Visual traders should use volume bars or tick charts, looks like a sine wave.
Same length moving averages using the open, to be crossed by middle of range average(high+low)2, acts as a noise filter.
Can not backtest this, except visually.
Backtests must have the closing price included, in order to work.
Same length moving averages using the open, to be crossed by middle of range average(high+low)2, acts as a noise filter.
Can not backtest this, except visually.
Backtests must have the closing price included, in order to work.
All I am saying is if you truly believe and advocate one particular method, I would find it immensely "helpful" if one could show some sort of evidence that it actually works, preferably for the last 5 years....
I wouldnt walk into a BJJ school and train with a professor who couldnt tap me out in 30 seconds,so why on earth would I believe/trust anyone who cant demostrate financial success in the markets
I wouldnt walk into a BJJ school and train with a professor who couldnt tap me out in 30 seconds,so why on earth would I believe/trust anyone who cant demostrate financial success in the markets