Is Technical Analysis a joke??

[volpri]

no worries but I am not wrong

ROFLMAO go drink some more coffee and try again Mickey.

 

[smallfil]

That would suggest that new traders are wrong developing a technical point - they should delve into technical trading and develop what they feel comfortable with - I am a supply and demand trader, that obviously does not work with Micky lol...but everyone will find what works for them

Price is the purest form of any indicator. And all those indicators? All based on price. No BS because stock prices traded at those prices, at those volumes. Traders who ignore it, ignore it at their peril.

 

[volpri]

A bit simplistic, basically inaccurate imo.

Mickey you stated an opinion. Your opinion. See right there at the end of your statement IMO. Did you see it?

Therefore, does that make your opinion not a fact? Please, at the least, concede that miserable point....

 

[volpri]

And a reply without substance is not verification either - I supply charts

And coffee man Mickey supplies ..well...you guessed it....NOTHING

 

[volpri]

Unsubscribing from this noob thread.

On your way out don’t forget to disinfect yourself from the concepts set forth and continue on with Dozzie’s ideas....

 

[volpri]

Hi virtusa I would not over think then what you can see in a bar, as I have stated. If a currency or any other financial instrument is going to the moon or to hell we will see it confirmed in the bars and if they fail - simple we reverse with the institutes

Possible double or triple up and go with the institutes as you call them. It takes guts but is actually quite easy to get back a loss (if you know when to apply the the technique).

 

[volpri]

First, why did you subscribe to it in the first place. Second, didn't we have this kind of thread a week ago? Third, what am I doing here?

Uh oh...

 

[volpri]

But this is ET. Are yo sure about that?

ROFLMAO

 

[Actuarial_Fun]

Anything written in a book, especially by someone like John Murphy, is entirely useless. Doing the opposite would probably yield you = results. While saying that, studying price and volume action on your own and finding a unique edge will be successful. If people made money off of stupid moving averages and cups with handles without any other context, money would be easy and the masses of people doing it will make it invalid anyhow. Have you ever seen those stupid CNBC clips on TA? Those are useless and examples of what won't work. You have to have an edge against other traders and to do that you'll need to put in a lot more blood, sweat, and tears (assuming you were born to be a trader to begin with).

 

[Real Money]

I think all the patterns of handles, flags, hanging man, cups, hammers , etc... is crap.

You know deep down that there's a tinge of truth in all of it. That said, I don't use any of that stuff after getting a real edge. Not a single candlestick on any of my screens. There is too much correlation trading going on to get clean TA on an index. It's being spread against a thousand different markets. There's execution desks, vol hedging, and VWAP manipulations from the broker dealers...

Well, they say that bonds lead all markets.

Maybe you should do the TA stuff on the rate futures and then use that to inform your trading.

The rates market is the real deal. I don't think you can be a great trader and ignore it unless you trade low beta type stuff. Risk on / risk off is trading so heavy these days...