But...as Hamlet says ..."there's the rub"......
Technical Analysis = CRAP
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But...as Hamlet says ..."there's the rub"......
Quote from MarketMasher:
But...as Hamlet says ..."there's the rub"......
You are 100% correct. No one makes $ using TA
Such statement is false.
Technical analysis works except it stops working when strong fundamentals interfere.
Another observation is that it is much more reliable with the trend than counter trend as strong trends know no support or resistance.
Crazy A
Technical analysis works except it stops working when strong fundamentals interfere.
Another observation is that it is much more reliable with the trend than counter trend as strong trends know no support or resistance.
Crazy A
Yes but my entries are entered when the mkt isn't 'random'. I don't get entry signals when things aren't clear...but when they are, I take my shots. And I know from my metrics that my system works well and has for over a decade. I'm sure there are others here too that experience the same things with their entry and exit signals.
Who trades when the mkt isn't giving any real indication of anything?
Who trades when the mkt isn't giving any real indication of anything?
I'm not doubting you-- I firmly believe the market can be beat despite it's Quasi random nature. However, my question is, what prevents you from ramping up to huge size thus becoming extraordinarily wealthy? I don't know that you are not, but I do know you are still trading...... I know I would if I had such a system....
For me, it is crap. I looked into it for 5 years, and could never figure out a way to make money by looking at charts, patterns and indicators.
That certainly doesn't mean that it's crap for everyone though.
I now use relative strength metrics that will allow me to trade various asset classes and beat the market by a few percent each year, using monthly-quarterly time frames.
That is enough for me to compound my retirement accounts into a large some of money in the next 25 years.
That certainly doesn't mean that it's crap for everyone though.
I now use relative strength metrics that will allow me to trade various asset classes and beat the market by a few percent each year, using monthly-quarterly time frames.
That is enough for me to compound my retirement accounts into a large some of money in the next 25 years.
Quote from Frits:
Let's say for the sake of the subject that today some brilliant mind came up with an indicator that indeed is able to predict the market. Let's call this indicator "moneymaker"
A) At a certain point in time (let's call this "T") the moneymaker signals that the market is about to go up!
You buy and with that you enter a long position. Smart move because the moneymaker signals a rising price.
B) At T+11 (or 19, 37 or 76) the moneymaker signals that the market is about to go down again.
**snip***
Shaka!
Frits Altenburg
P.s. this advice was for free
Maybe some brilliant minds have come up with moneymaker signals but they aren't sharing it. Perhaps the brilliant minds know that if the moneymaker signal gets into the public domain it will not work for the reasons you cited. So the brilliant minds are brilliant enough to know not to let that information out.
Now...consider that you didn't realize this...does this imply that you aren't a brilliant mind? and therefore have no chance of developing a moneymaker signal?
Ok, I'll say here that I'm joking and give you the benefit of the doubt. I can say that I wasted about 20 years of my life when I concluded that T.A. didn't work and never looked at the issue again for a couple decades. Now I'm making money on it all the time.
SM
TA is good at illustrating what happened and selling ideas. It's illustrative, not predictive in my opinion.
But if you're using relative strength metrics to make money, aren't you using T.A. ???
S M
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