Proof of nothing, of course. It does not prove anything at all. As I said, no track record could be used to prove or disprove anything. I was asked to post, so I did. I do OK, but it does not mean I will be doing well down the road. It was my original point! All I can say that my model logically makes sense to me and that is why I am running it. Notice, no reference to any magical indicators, squiggly lines, elaborated models and charts. Just pure psychology! And, no, I am not sure it will work forever, but it is working so far.
TA - Objective or Psychological Skill?
- Thread starter cornix
- Start date
Proof of nothing, of course. It does not prove anything at all. As I said, no track record could be used to prove or disprove anything. I was asked to post, so I did. I do OK, but it does not mean I will be doing well down the road. It was my original point! All I can say that my model logically makes sense to me and that is why I am running it. Notice, no reference to any magical indicators, squiggly lines, elaborated models and charts. Just pure psychology! And, no, I am not sure it will work forever, but it is working so far.
Of course that it t/a.
Anybody who writes or blogs about trading during the day talks about how markets react at support an resistance. How do you anticipate support and resistance... either by having a damn good memory... looking at time and sales or looking at charts.
Its all technical analysis. You are using methods to analyze trading data. Momentum analysis. Deviation from the mean. Recent highs and lows. Moving average... all can be very useful for making relative strength comparisions and cross market comparisons.
2.
When I decided I really wanted to trade I left a scammy soes place and went to bright trading in la jolla ca. I was a break even trader in about 6 months of watching and trading. but I was starting to have good days.
With two other guys I opened a van buren securiutes office. With my cheaper commissions I could pay for the overhead but I was breaking even maybe even down a few hundreds bucks a month when factoring in overhead.
But, I had been speaking with guys who were killing it in our san francisco van buren office.
I went up there... they trained me. I paid them an an override on my commissions.
I made 600 bucks the first day... and went on to make money every month the next 5-6 years.
During that time we backed traders with our own money trained them and made money off of them for about 2 year period. We had about 10 successful traders in our office and the guys in san francisco trained 50 guys who made money for while.
Basically we used t/a to find stocks that were at of whack with the s&p... then we would watch them... and then when it seemed likely they would move and the whole market would move we would take the offer and hit the bid and look for the move back to where they should be on a relative basis. And it worked.
Hedgefunds used to stats to find the stocks out of alignment... we used charts.
Anybody who writes or blogs about trading during the day talks about how markets react at support an resistance. How do you anticipate support and resistance... either by having a damn good memory... looking at time and sales or looking at charts.
Its all technical analysis. You are using methods to analyze trading data. Momentum analysis. Deviation from the mean. Recent highs and lows. Moving average... all can be very useful for making relative strength comparisions and cross market comparisons.
2.
When I decided I really wanted to trade I left a scammy soes place and went to bright trading in la jolla ca. I was a break even trader in about 6 months of watching and trading. but I was starting to have good days.
With two other guys I opened a van buren securiutes office. With my cheaper commissions I could pay for the overhead but I was breaking even maybe even down a few hundreds bucks a month when factoring in overhead.
But, I had been speaking with guys who were killing it in our san francisco van buren office.
I went up there... they trained me. I paid them an an override on my commissions.
I made 600 bucks the first day... and went on to make money every month the next 5-6 years.
During that time we backed traders with our own money trained them and made money off of them for about 2 year period. We had about 10 successful traders in our office and the guys in san francisco trained 50 guys who made money for while.
Basically we used t/a to find stocks that were at of whack with the s&p... then we would watch them... and then when it seemed likely they would move and the whole market would move we would take the offer and hit the bid and look for the move back to where they should be on a relative basis. And it worked.
Hedgefunds used to stats to find the stocks out of alignment... we used charts.
I changed it a bit... after you quoted...but of course its t/a.
know how gained by watching charts.
If you are watching charts and note that every time a program turns on they buy xom... you think about buying xom on pullbacks to the spot where they likely to turn on the programs.
Which by the way was something led to me making a 1000 dollars a day for 88 out of 90 days at one time.
and I only lost a little on the losing days.
know how gained by watching charts.
If you are watching charts and note that every time a program turns on they buy xom... you think about buying xom on pullbacks to the spot where they likely to turn on the programs.
Which by the way was something led to me making a 1000 dollars a day for 88 out of 90 days at one time.
and I only lost a little on the losing days.
Maestro, as a curiosity ... if track-records cannot prove that a trading methodology works, what is it that "allows" you to dismiss the entire concept of TA ?
It seems to me that the null hypothesis for "Objective TA doesn't work" would be "there is one Objective TA system that works". If track-record doesn't prove a system works, what does, then?
It seems to me that the null hypothesis for "Objective TA doesn't work" would be "there is one Objective TA system that works". If track-record doesn't prove a system works, what does, then?
I have ways to explain my methods to just about anybody. I've taught it to several people, quite a few of whom "got it". Those who "got it" can tell you where I went long or short each day and why. I'm not sure any of them trade all the setups because you're definitely spot on about one thing: You've got to take any framework you decide to base trades on, make it your own, and come to trust it. If you don't trust a system, you won't trade it no matter how great the return is. I could've mirrored every trade of a guy who called trades in advance for the better part of 2009, while I was struggling. He called every trade well in advance with entry, stop and target. He returned over 100% on his account that year. I didn't shadow a single one of those trades because I didn't understand price action back then and so I didn't trust his trades. I believed every one of them would fail.