TA - Objective or Psychological Skill?

Life is full of misconceptions that others hold to be true.

My second ex once claimed she was the best lay on the planet. What made you decide that I asked coyly, she proudly said " guys always came back for more" That explains it, I proclaimed. That story told to some other bimbos can get a guy laid.... :cool:

ELITE TRADER actually has the same story to tell: The losers all know why everyone else loses because they have "been there, done that" The winners all claim they know how to win or at least know many other winners to back up their story.

I worry about as much about HFT as I do if a chicks hair color has anything to do with how many guys she can entice to "come back for more"
 
Quote from dealmaker:

Not really complaining, just pointing out that its more challenging to trade now than pre-credit crisis and HFT has eroded some of our profits however as you pointed out the choice is ours, adapt or get out.
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Yea, I didn't mean to say you were complaining. Just saw so many whining Internet traders who blame HFT, brokers, whatever on their inability to generate alpha and it's obvious problem is not those reasons, the main factor of profitability is trader him/herself. :)
 
Quote from NoDoji:

It hurts the retail investor who maintains stop loss orders. Since so much volume is based on HFTs, if there's a "shoot first, ask questions later" event (such as the major technical breakdown that occurred during the 2010 flash crash, or a rumor on a stock), you've got these programmed trading systems with state-of-the-art news keyword recognition programs in place and when something triggers potential volatility, all that liquidity they provide in an orderly market is withdrawn, and retail investors' stops get hit.

At least that how it was explained to me.
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Ah in this case maybe that's true. But I hardly understand why would one ever use hard stop-losses in long-term investments without much leverage involved...
 
"Technical Analysis was very helpful in the negative way. I didn’t believe it. The book [on Technical Analysis] convinced me that technical analysis was a road not to go down. In that sense, it saved me a lot of time.”

Ed Thorp,

(the greaters trader of all time)
 
Quote from MAESTRO:

"Technical Analysis was very helpful in the negative way. I didn’t believe it. The book [on Technical Analysis] convinced me that technical analysis was a road not to go down. In that sense, it saved me a lot of time.”

Ed Thorp,

(the greaters trader of all time)
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Amen.. TA is decietful, and extremely seductive at the same time. I have been trying to spread this message, but the internet delusions of success stories keep trying to keep the myth going. surf
 
Creating significance out of randomness is a phenomenon known as pareidolia. It’s the basis for the Rorschach inkblot test, which tries to gain insight into a person’s mental state by asking them what they see, when all they’re really looking at are, obviously, nothing but a bunch of ink blots. Our brains try desperately to make sense of the world, and far too often this desire, this ingrained need, fools us into seeing patterns where there are none. And that’s why… …technical analysis, for us traders, is dead! In fact, it was dead on arrival. It never had a prayer or a hope in hell.

Murphy, Dan (2013-06-19). Trading Strategies From a Trading Skeptic (pp. 20-21). Joshua Tree Financial, Inc.. Kindle Edition.
 
The reason I am posting those comments is not because I gain anything from that. It simply bothers me when people believe in bullshit and refuse to open their eyes and, therefore, infect others with their dogmas. It is much easier to learn a few TA “tricks” and consider yourself a “seasoned trader” rather than actually research and learn the true facts. And for those of you who are doing it for years and still believing in TA – I cannot help you. I am not even trying. I do not want to argue with you or even listen to what you are saying. My comments are only directed at those who have not yet been infected and thus could be saved.

Cheers,

MAESTRO
 
Quote from MAESTRO:
It simply bothers me when people believe in bullshit and refuse to open their eyes and, therefore, infect others with their dogmas.
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So you know the truth. Everyone that use TA to trade profitably are either lying or self deluded?
Quote from MAESTRO:
I do not want to argue with you or even listen to what you are saying.
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This is so condescending. :confused:
 
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