Proof that technicals/ charts work-- SINA

[SteveNYC]

Quote from Redneck:

I chuckle at the back and forth;

TA works…. TA doesn’t work….TA works till it doesn’t (admittedly I’m guilty of saying this more than once – and I was full of shit saying it)

Fact is; Mkt is uncertain

So how the hell can anyone reasonably expect anything to have the ability to predict/ project / prognosticate / forecast / whatever – a future move/ event – with any modicum of reliability – in an uncertain environment

That’s just crazy…, or is it….

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I would suggest this;

TA will work 100% of the time – once you revamp your expectation(s) accordingly

It does two things consistently – three, if you wish to include the ability to show what already happened

And where there’s consistency, there is an exploitable edge

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We are all way too familiar with how insanity is defined;

Do the same thing over and over, while expecting…..

There is however a second, lesser used definition of insanity

To ignore reality..., to attempt to redefine reality

My point;

Accept how the mkt works…, then build your beliefs accordingly

Never try to shape / carve the mkt into what you believe – this is simply not sustainable over the long haul

TA, and whether one perceives it works…, marginally works…, or never works – is a classic example of this

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Things that make you go – Hmmmmm (at least me anyway)


Btw, I love the TA…, always have

Great Weekend All
RN

TA or no way!

 

[Swan Noir]

When TA is in harness with support and resistance it is indeed potent. If you want mote than TA and S/R offer you are looking for a free lunch and will, in all liklihood, miss both lunch and dinner.

 

[cmb]

Ive been trading about a year now, and have gone from all kinds of TA/Trendlines/fibs/MA's/pivots. But I have found out over time that TA does work, but u need to combine it with many other factors. Im primarly a daytrader/scalper, when all of the technicals line up correctly, and there is some sort of support to go along with it...thats when you lay on the risk. Over the last 3 months I have found myself taking fewer and fewer trades per week, and my PNL has gone way up compared to before, and Im sitting in front of the monitor reading a book 80% of the time! lol