My entry was to short at SPX 4229 on 5/18/2022, cover at 3947 on 5/23; Short again at 3905 on 5/24, cover and go long at 3960 on 5/25,Hold long till now.
It doesn't need to guess what phase it is. It just goes with the trend.
Prove to me that Technical Analysis Works.
- Thread starter TazTheLaz
- Start date
My entry was to short at SPX 4229 on 5/18/2022, cover at 3947 on 5/23; Short again at 3905 on 5/24, cover and go long at 3960 on 5/25,Hold long till now.
It doesn't need to guess what phase it is. It just goes with the trend.
This is something (the question) to send directly to the OP via private message to see if he can answer correctly...
They then will ask for the science so that they can verify themself.
You then post the following to help them to determine the phase of a market even though the chart is very clear when someone compares it to current price action on the same timeframe...
It would determine if the person merits having an in-depth conversation about your TA assuming the chart relates to a concept in your TA. In reality, most will say the above is just gibberish and will accuse you of hiding the truth that TA is too complicated.
You then respond with a link to the Accumulation/Distribution Index calculation...
https://en.wikipedia.org/wiki/Accumulation/distribution_index
It will not resolve anything nor encourage them to do their own research into the chart that you just posted because they want to be spoon-fed every single detail to them while they remain anonymous.
wrbtrader
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Please delete this post,it's gonna depress and discourage new traders.LOL. 11 years,12 hours a day,full time? In approximately the same amount of time(11 years) Kristjan Kullamagi took a 10k account to 100mm plus. Mostly breakout trades and parabolic shorting. He seems to use a 50/50 mix of TA and FA.
Tell that to the experts in this thread that say : "Indicators are not TA, they are ´price analysis´" "TA is market analysis". I don't care at all in case you wanted to school me.
Will Rogers said;
"Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it.
If it don't go up, don't buy it". I added; "If it goes down get rid of it".
I swing trade individual stocks.
I don't look at fundamentals or care what the company does.
I scan for stocks making new highs.
I prefer stocks that are breaking out of a consolidation.
I use money management (Usually risk less than 1% of capital)
I use risk management. (Tight stops)
I make money year over year and have managed to sit out the big drops in 2008 and 2020.
If that's TA it works for me.
"Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it.
If it don't go up, don't buy it". I added; "If it goes down get rid of it".
I swing trade individual stocks.
I don't look at fundamentals or care what the company does.
I scan for stocks making new highs.
I prefer stocks that are breaking out of a consolidation.
I use money management (Usually risk less than 1% of capital)
I use risk management. (Tight stops)
I make money year over year and have managed to sit out the big drops in 2008 and 2020.
If that's TA it works for me.
Indicators are a measure of price. Technical analysis is the study of stockcharts. Apples to oranges comparison. It will never work because two people looking at two different things. One other problem is those studying technical analysis include, indicators in their study of stockcharts. If the indicators fail and most times it fails, they say technical analysis does not work. They have added complexity and noise to the stockchart then, blame technical analysis as the problem. It is all because of a lack of understanding of how the parts make up the whole.
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Hi TazTheLaz,
Please consider reading the following books. I believe they will open your mind to the possibility that TA can be and is being used by some individuals to become wealthy.
Market Wizards: Interviews with Top Traders – Jack Schwager
The New Market Wizards: Conversations with America’s Top Traders – Jack Schwager
Pit Bull: Lessons from Wall Street’s Champion Day Trader - Martin Schwartz
Trading Sardines – Linda Bradford Raschke
Trade Like a Stock Market Wizard… - Mark Minervini
Simple Techniques That Beat the Market… – Brandon Kioseff
Trade Like a Casino – Richard Weissman
Hello TazTheLaz,
https://screencast-o-matic.com/watch/c3hU2KVr9LV
here my account. And see, that is not even enough to prove it TA works.
I believe that is what is you looking for. Check back with me in a year from now to see how it goes.