Still amazed by the basics

[deronwagner]

Yes, you're right Vhehn. TA becomes a self-fulfilling prophecy. Fibonacci, on the other hand, is nature-based and permeates through everything we do in life.

Anyway, most traders still fail to make profits, not due to lack of TA skills, but rather due to lack of discipline.

 

[Brandonf]

<i>it works that way because ta only works if enough guys are watching for that signal and act on it.therefore the most popular signals work the best. </i>

I tend to find the opposite is true.

Brandon

 

[inandlong]

egil... you are a wildman. I want to party with you cowboy.



Up, down, or sideways.... now I have two things I know for sure....the other is -

 

[inandlong]

lundy I must respectfully disagree with your assessment. Inasmuch as price is nothing more than human behavior quantified, as is TA, a pullback from a recent high is significant.

I agree that it might not mean a local top, but it does provide an objective point from which to buy or sell. The beauty of TA is its objectivity. We don't really care which way it goes. No pattern really fails us. Patterns provide objective locations from which to enter the market. Some patterns have been deemed to have "predictive value" but they are no less valuable when they "fail"

I'll take a 50-50 pattern anytime, as long as it is providing an objective entry point.

Regardless of the pattern, the first premise is...

 

[vladiator]

Originally posted by inandlong
might not mean a local top, but it does provide an objective point from which to buy or sell. The beauty of TA is its objectivity. We don't really care which way it goes. No pattern really fails us. Patterns provide objective locations from which to enter the market. Some patterns have been deemed to have "predictive value" but they are no less valuable when they "fail"

I'll take a 50-50 pattern anytime, as long as it is providing an objective entry point.

Regardless of the pattern, the first premise is...

Weird, I've always thought TA was one the most <b>subjective</b> approaches. Two people will look at the same chart and will have different opinions, both thinking they are right. Does it get any more subjective than that?