TA - the final answer...

[SunTrader]

It has been said time and again ............. and again ..................... annnnnnnnnnnnnnnd again

TA is a part art part science, mostly the former, that uses tools.

Do all Carpenters use their tools - hammers, saws, screwguns, chisels, levels, clamps, wood planers, etc the same way to build the same things everytime?

Do all Plumbers use ... (well you get the point) I hope.

Good luck testing. The only test that ever matters is P&L.

 

[formikatrading]

Thank you!!!

Maybe now we can stop the debate as to whether TA "works." The better question is whether a particular trader can make TA tools work for him or her, individually.

It has been said time and again ............. and again ..................... annnnnnnnnnnnnnnd again

TA is a part art part science, mostly the former, that uses tools.

Do all Carpenters use their tools - hammers, saws, screwguns, chisels, levels, clamps, wood planers, etc the same way to build the same things everytime?

Do all Plumbers use ... (well you get the point) I hope.

Good luck testing. The only test that ever matters is P&L.

 

[Bad_Badness]

Credits to: https://xkcd.com/1570/

 

[farmerjohn1324]

Ever since being informed about a person named Jim Simons, I have completely changed my mind about TA. It definitely works. It's all about whether I can find/create a system that has good historical profitability.

I have already had much success finding someone who runs backtests for a good price. He gave me a system on the EUR/USD that has phenomenal returns historically... But his test only went back 8 weeks so I told him to do it for 10 years. Tomorrow evening, I will be back home in front of my laptop so I can download NinjaTrader and start backtesting myself. I haven't found a NinjaTrader app for my phone.

I am living in a newly built home in a somewhat rural area and I've been waiting weeks for them to extend the lines for Internet service. They say October 1st is the day so hopefully they hook up my Internet now.

I also realize that I need a program that will place trades for me, because I cannot sit and watch charts for hours per day.

I'm still reading my book by George Soros, although I don't think I'll ever place trades because of it. It's still interesting to learn about the history of international banking and things like that. But trying to predict macroeconomic cycles and bubbles is incredibly difficult, if not impossible. Soros even admits that he often gets his predictions wrong and he sure knows more than I do.

 

[SunTrader]

Ever since being informed about a person named Jim Simons, I have completely changed my mind about TA. It definitely works. It's all about whether I can find/create a system that has good historical profitability.....

I also realize that I need a program that will place trades for me, because I cannot sit and watch charts for hours per day..

If only if it was so simple.

Hit a button and walk away, come back to mo money.

Power goes down, net goes down, broker goes down, market goes ... nuts. And many more unexpected, unplanned events.

 

[farmerjohn1324]

If only if it was so simple.

Hit a button and walk away, come back to mo money.

The effort would hopefully be in the backtesting of hundreds of strategies.

 

[SunTrader]

The effort would hopefully be in the backtesting of hundreds of strategies.

My comment, which I added to, was about placing trades, not backtesting.

 

[farmerjohn1324]

My comment, which I added to, was about placing trades, not backtesting.

Yea we'll see. I''ll do whatever I can to get it working.

 

[easymon1]

a person named Jim Simons

start at 9minutes in ...
The mathematician who cracked Wall Street

 

[farmerjohn1324]

start at 9minutes in ...
The mathematician who cracked Wall Street

I've been watching these videos for a few days already.