Every trader i've ever known who can prove (either with lots of realtime calls or statements with other proof) claims to not us TA.
In fact, they claim to not use price charts at all.
They never reveal how they do it, but they do rule out every single approach that I can think of.
(order book, fundamental analysis, DOM/time+sales trading, charts, price action trading, statistics etc etc)
Here are a few snippets from one such trader:
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If the vast majority advocate charts and/or indicators and/or TA and 80-90% lose in the markets, wouldn't this outcome lead a rational person to suspect that something was not right? Aiming to be better than the vast majority at employing an overwhelmingly unsuccessful approach seems to me to be a strange ambition.
Wouldn't it be smarter to feed of the 80-90% rather than compete with them for some dubious outcome.
the past has no relevance as in order to be successful the here and now is what matters, not the past.
No matter what behavior is reflected in the chart, nobody, except someone manipulating that market, can know with any semblance of certainty whether the next tick will be up or down and therefore a trend continuation or the beginning of a reversal.
The surest method will place you next to the herd when they are right and on the other side of their trades when they are wrong! If you ever wonder who is on the other side of your trades when you are wrong I can assure you that it is probably me or someone just like me and when you are right we will have usually entered well before you
But rather that you should be concentrating on using the chartists weaknesses to your advantage. How can you trade against the herd if you are running with them?
the market virtually always telegraphs it's intentions, but this vital information cannot be found with traditional price charts or traditional indicators
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If these comments made by one of the afformentioned traders resonate with anyone, i'd be eternally grateful if someone was to put a little more 'meat on the bone' for me.
What could he possibly be alluding too?
It sounds like he's 'charting something'...but it has nothing to do with price??
In fact, they claim to not use price charts at all.
They never reveal how they do it, but they do rule out every single approach that I can think of.
(order book, fundamental analysis, DOM/time+sales trading, charts, price action trading, statistics etc etc)
Here are a few snippets from one such trader:
-------------------------------------------------------------------------------
If the vast majority advocate charts and/or indicators and/or TA and 80-90% lose in the markets, wouldn't this outcome lead a rational person to suspect that something was not right? Aiming to be better than the vast majority at employing an overwhelmingly unsuccessful approach seems to me to be a strange ambition.
Wouldn't it be smarter to feed of the 80-90% rather than compete with them for some dubious outcome.
the past has no relevance as in order to be successful the here and now is what matters, not the past.
No matter what behavior is reflected in the chart, nobody, except someone manipulating that market, can know with any semblance of certainty whether the next tick will be up or down and therefore a trend continuation or the beginning of a reversal.
The surest method will place you next to the herd when they are right and on the other side of their trades when they are wrong! If you ever wonder who is on the other side of your trades when you are wrong I can assure you that it is probably me or someone just like me and when you are right we will have usually entered well before you
But rather that you should be concentrating on using the chartists weaknesses to your advantage. How can you trade against the herd if you are running with them?
the market virtually always telegraphs it's intentions, but this vital information cannot be found with traditional price charts or traditional indicators
-------------------------------------------------------------------------
If these comments made by one of the afformentioned traders resonate with anyone, i'd be eternally grateful if someone was to put a little more 'meat on the bone' for me.
What could he possibly be alluding too?
It sounds like he's 'charting something'...but it has nothing to do with price??
