Is Technical Analysis a joke??

[1957may10]

Is TA a joke? It depends on the time horizon to which you are attempting to apply TA.

Personally, I prefer Market Profile/Volume Profile over TA.

Why don’t you look at both?

 

[BAT31]

Why don’t you look at both?

Occasionally, I will use a moving average as a confluence item. But I am not going to have 10 different TA indicators on my chart. Nope, been there, done that.

 

[1957may10]

Occasionally, I will use a moving average as a confluence item. But I am not going to have 10 different TA indicators on my chart. Nope, been there, done that.

I do, but up to you. Good luck.

 

[1957may10]

Occasionally, I will use a moving average as a confluence item. But I am not going to have 10 different TA indicators on my chart. Nope, been there, done that.

Not ten but a few will be fine.

 

[1957may10]

Not ten but a few will be fine.

Also depends what time frame you are looking. For day I’m using chart and Macd and volume

 

[1957may10]

Everyone can teach how to trade. Doesn't mean it actually works. Sure he will be teaching some useful things to new traders but it isn't a holy grail.

How many of his students have made more in profits than the costs of the course from his teaching? Probably not much.

It is not necessarily to pay. You can learn for free on internet, lol.

 

[KCalhoun]

Of all ta, I find range to be most useful, because it shows trade potential.

An uptrend or breakout in a low-range choppy chart is much less tradable than a wide-range clean chart.

I find market internals TRIN VIX and in vs out S&P day, premkt futs very important to factor in.

Gap continuations are my favorite pattern, and I use volume and tape reading to confirm entries

 

[volpri]

I may pass by technical but understanding why price is moving the way it does is important - price is not random. When a bar stops going higher it is because sell orders kept it down. When the bar stops going lower it is because it hit buy orders. When price crosses under or over the sells or buys it creates imbalance. This sets direction and a reaction back to that level.

Bingo! Now what does a trader do during that “set direction” as the trader is waiting for the reaction BACK to the previous level? Well..I know what this trader is doing. It may be too volatile and disconcerting to mention it right now so I will refrain. Suffice it to say, if the trader has been reading some of my posts, especially those in my journal, the trader might detect the tactics that can be useful in such scenarios. The one statement above is worth its weight in gold namely; “PRICE IS NOT RANDOM.” When a trader can come to this realization they can sing....

PS the scenario happens all day long.

 

[volpri]

A bit simplistic, basically inaccurate imo.

 

[volpri]

I have not come across a successful TA trader in my long voyage in trading. It's been all gurus and "educators" pushing it. Not to say there aren't any profitable practitioners as you can't prove a negative. But the burden of proof - and we should all easily agree on this - is on the people who claims that TA works.

As an aside, there is absolutely nothing "technical" about drawing lines on charts or moving average calculations (and all their various derivatives). The name itself - technical analysis - is one of the great misnomers.

Me thinks you should change your handle.