TA is BS?

[hilmy83]

There go the personal attacks. You cannot handle anyone contradicting you. Grow up, you are acting like a child.

You're the one who claims others opinions doesn't matter. This is a forum , and OP presented an opinion and offered mine. You shut down all anti TA with your response to me. Maybe you need to open your mind a bit

 

[bln]

TA is a umbrella term and anything that is historical price data is TA.

Renaissance Technologies, Citadel, Jane Street, Optiver, Goldman Sachs, JP Morgan all use TA.

If your algorithm is looking back one micro second, that is TA because you are using historical data to make a decision in the current now.

 

[smallfil]

You're the one who claims others opinions doesn't matter. This is a forum , and OP presented an opinion and offered mine. You shut down all anti TA with your response to me. Maybe you need to open your mind a bit

Like I said, you are free to believe whatever you deem to be right. I have already stated my reasons why I believe otherwise. Now, you do not like my strong opinions, that is your problem. Why would I change my beliefs to go along with you when I believe you are wrong? That would be dumb.

 

[hilmy83]

TA is a umbrella term and anything that is historical price data is TA.

Renaissance Technologies, Citadel, Jane Street, Optiver, Goldman Sachs, JP Morgan all use TA.

If your algorithm is looking back one micro second, that is TA because you are using historical data to make a decision in the current now.

You can almost gauge someone's low level play by how they analyze their charts. These pro players certainly not using random ass lines on a chart and ob/os indicatoes

 

[MrAgi1]

How original of a thread idea!

Lol top notch sarcasm right there.

 

[MrAgi1]

I think TA is mostly bullshit. A lot of studies show price just move on random Brownian motion.
Case in point just take a chart and randomly draw lines and you will hit "significant" s/r's
Anybody who thinks differently is just too far gone to let go or a newbie

Thanks. A different perspective just like mine. I think most people on ET find it difficult to understand that some else might have a different view point from theirs. It does not mean I am right.

I think maybe not even the newbies actually, just like organized religion, the deeper you go into it, then you might begin to find every opposing logical question as threat.

 

[MrAgi1]

What you do not realize is when you buy an index fund, you are essentially, following the major trend of the stockmarket. You may not be aware of it, but, essentially, you are applying and using the same principles of technical analysis, a major point of which is trend following. A lot of the so called hedge fund managers are not traders. They apply the same models created for them by academics and they are not risking their own monies. I would not trust those guys with my monies. I will trade it myself. The real good traders the likes of Paul Tudor Jones, Ed Seykota, etc. are featured in the Market Wizards book of Jack Schwager. As to buy and hold, you see Warren Buffet and a lot of people copy him. How many years has he held his position, 50 years? If you have that time, 50 years to wait, maybe, you will make a lot of monies. Then, again, if you have only 20 years after a huge, brutal bear market decimates your stocks, you may not even get your monies back and breakeven. I had CSCO and paid $120 per share then, during the Dotcom boom as a buy and hold investor which is how I started. CSCO is $39.60 today. Now, 22 years later, CSCO is nowhere near $120 per share. I lost a lot of monies on CSCO then. I lost a lot of monies then, holding onto CSCO. If I still had CSCO now, I would be down 67%, just on CSCO. What about my other stock holdings?

Okay, I get your point. However, I think for most people, they should not pick stocks. I was referring to buy and hold as buying and holding the market indexes like the S&P 500.

 

[bln]

You can almost gauge someone's low level play by how they analyze their charts. These pro players certainly not using random ass lines on a chart and ob/os indicatoes

Sure, TA is a broad space. You see weird shit like WD.Gann, Eliot Wave, Astrology, Time cycles, Seasonal cycles, etc.

 

[MrAgi1]

TA is a umbrella term and anything that is historical price data is TA.

Renaissance Technologies, Citadel, Jane Street, Optiver, Goldman Sachs, JP Morgan all use TA.

If your algorithm is looking back one micro second, that is TA because you are using historical data to make a decision in the current now.

Exactly, you are indeed right. Even though what renaissance do can be called quant trading, but TA/ still overlaps with quant trading. I definitely do not think quantitative trading is BS.
I think my tittle should have been specifically chart patterns not entirely TA.

Then I still don’t understand why a lot of other people on this thread are offended, it was just my opinion and I did not even claim that I think I was right. Just wanted to hear from other TA traders what they thought. That’s why there is a question mark in the title(discussion).

 

[MrAgi1]

Sure, TA is a broad space. You see weird shit like WD.Gann, Eliot Wave, Astrology, Time cycles, Seasonal cycles, etc.

Astrology. Never heard of that been used to trade. Interesting, you never know. It could be that holy grail we have always searched for.