TA can't predict that a large order will be placed now and not in 15 min, 1 hour, etc
- Thread starter crgarcia
- Start date
Not for the reasons you stated. The main reason TA is worthless is that it is a highly subjective analysis. You never know whether your conclusions from it are due to objective analysis or it is simply emotional and subjective wishfull thinking.
You have to love these threads . . .
This post should be a prime example of why logic should begin to be taught at an elementary level and be required through high school.
You need to find a new hobby. There are many of us out here that have spent years and years perfecting the ability to trade consistently and successfully. We all have great empathy for you at your inability to focus on and have the dedication to trading so you could reach a point of consistent profitability. Don't feel bad. People drop out of college and other higher halls of learning and go on to lead highly successful lives. Stop being bitter that you can't trade and move on.
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LOL! Good one. Unfortunately, too cryptic for most ETers to "get it".
The orders are so large that they will break any intraday support/resistance levels.Quote from wrbtrader:
I never heard of any type of TA being used by someone to try to predict when large banks are placing large orders. Therefore, where are you reading this stuff and are you sure it's TA.
Heck, you don't need TA to tell you when large orders are most likely to appear. Just open up any international economic calendar...it will be accurate most of the time in telling you when large orders are most likely to appear.
http://www.forexfactory.com/calendar.php
By the way, you still think that your chart analysis is not TA ???
Mark
False.
ALL orders are place by humans.
Now they divide their orders into "smaller" ones (and even so they are quite large ones.
As their oders are so large that they move the market, they place them at random times, so others may not anticipate them and profit from them.
They always place LIMIT orders, not market orders, by the way.
PSPR stop the churning for a while.
NOBODY learns to trade, at least not in short term trading.
There's no skill in trading , only bouts of luck, and unluck.
Mostly unluck by the way.
Even if something is slightly ambiguous, then its worthless.
Take an overbought (or oversold) indicator for example:
Will it become more overbought?
Or will it revert to oversold?
Both are equally possible, so TA its worthless.
Why bother replying to me if you're not going to answer my question.
Please point to a specific link, thread, forum, blog, website or book that states a specific type of TA can be used to predict when large banks place large orders considering I believe such is not possible nor have I heard of any TA being promoted as being able to do such.
Also, you do realize that some traders actually short support or long resistance.
Last of all, you still doing chart analysis and consider it not TA.
Mark