Technical Analysis = CRAP

[logic_man]

Quote from bone:

I kinda maybe do the same thing by using and overlaying several timeframes, and of course I look for confirmation between timeframes. The timeframes are filtered according to the volatility metrics for the instrument of interest - in other words, I don't need all the planets to be in perfect alignment, just the ones that truly matter for the specific target instrument.

I am a Nuclear Engineer by degree with several international patents regarding robotics and radiation shielding - point being, I can digest technical concepts. I have looked at volume from many different aspects, and I cannot find a lasting edge with it. I know Pete Steidelmeyer personally. I know the Market Delta guys here in Chicago.

My conclusion is that the volume analyzers do not understand, nor do they appreciate, the infidelity inherent in their source material. In terms of liquidity takers leaving a tangible footprint in the marketplace, Market Delta is superior because they are taking their source material directly from a trading platform and they are segregating liquidity makers from liquidity takers via execution platform order servers.

I don't look at timeframes but I do look at time and what I know is that if I know how long a specific price move takes, I can tell if it is significant or not. The amount of volume that occurs during that time may be significant as well, but I can get around 60% accuracy just using time, so adding volume, assuming it makes a difference, would just be gilding the lily.

The reason I started with time and not volume is that volume is too variable. One day there's a lot, the next day there's hardly any. Time is just there. Each day. Every day. The exact same. Seconds. Minutes. Hours. 24 hours in every day and 7 days in every week. Never different from the day before. Never different tomorrow. That's the kind of objectivity that serves a trader well.

 

[bigarrow]

bone when you say " liquidity makers from liquidity takers" is that another way of saying buyers and sellers ?
Never mind I know what your talking about.

 

[RCG Trader]

Quote from bone:

I kinda maybe do the same thing by using and overlaying several timeframes, and of course I look for confirmation between timeframes. The timeframes are filtered according to the volatility metrics for the instrument of interest - in other words, I don't need all the planets to be in perfect alignment, just the ones that truly matter for the specific target instrument.

I am a Nuclear Engineer by degree with several international patents regarding robotics and radiation shielding - point being, I can digest technical concepts. I have looked at volume from many different aspects, and I cannot find a lasting edge with it. I know Pete Steidelmeyer personally. I know the Market Delta guys here in Chicago.

My conclusion is that the volume analyzers do not understand, nor do they appreciate, the infidelity inherent in their source material. In terms of liquidity takers leaving a tangible footprint in the marketplace, Market Delta is superior because they are taking their source material directly from a trading platform and they are segregating liquidity makers from liquidity takers via execution platform order servers.

Yes, the reporting of volume does vary.

The work around to this is Constant Volume Bars. It standardizes and stabilizes the price matrix. It is a good idea.

 

[ProfLogic]

Quote from bone:

I am a Nuclear Engineer by degree with several international patents regarding robotics and radiation shielding - point being, I can digest technical concepts. I have looked at volume from many different aspects, and I cannot find a lasting edge with it. I know Pete Steidelmeyer personally. I know the Market Delta guys here in Chicago.

My conclusion is that the volume analyzers do not understand, nor do they appreciate, the infidelity inherent in their source material.

I'll admit you are an intelligent individual that says you can understand technical concepts. That being said I don't understand why you continue to talk about what I do as "volume analyzing" when that is not what I do. I do not analyze the volume in-and-of-itself but the amplitude, frequency, azimuth, specific support points and specific resistance points the equally weighted constant volume bar oscillations create in real time. You may have looked at volume from "many different aspects" but I can assure you, what I do isn't one of them so saying there is no lasting aspect to it is incorrect.

I'm not interesting in arguing with you but educating you on something you are unfamiliar with.

J. Pete Steidelmeyer is a brilliant guy but what he does is not what I do nor is it related or remotely close in anyway shape or form.

 

[ammo]

i don't believe you need to be a nuclear scientist,nor use azimuth's to read price action,k.i.s.s. allows you to get in and out,long or short,at the click of a button,you do need all that stuff to write programs and let a fast but retarded brain(compared to the one between your ears) do the work for you...Simple way of watching price action is to watch what the big guys are doing and notice when they are at agreement or at opposing ends,they are in agreement when like markets turn together, at these turns you will see the biggest moves and know that it will take a while for them to exhaust closing their shorts or longs,..watch the spu's.transports,naz,eur/usd,oil...find support and resistance on all of them and notice how they all fire in tune,once you have that figured out,adjust your timeframe to your risk tolerance... months,weeks,days ,hours, minutes and place your bets

 

[ProfLogic]

Quote from marketsurfer:

Remember bone, you are dealing with an admitted noble prize nominee for price action studies whom I have heard is talked about in a new book published by the Financial Times by a best selling author.

Respect is due when he wants to educate you.

Surf

I thought you were going to Canada last night . . . just another lie.

Your best selling author is a person that sells material found for free on the internet at seminars for thousands of dollars because he is unable to produce anything new on his own. He even refuses to answer direct questions about his own stuff. The same vendor mentality that you chastise others for, you are constantly blowing smoke up this guys butt. You're a hypocrite.

You have the ability to test my material and review it yourself. It is obvious you aren't bright enough to do that so instead you constantly criticize it to redirect attention away from your own deficiencies.

If you will lie to an internet forum, what will keep you from lying to Anna?
You have ZERO integrity.
Every time you open your mouth, you dig a deeper hole.

 

[marketsurfer]

Quote from ProfLogic:

I'll admit you are an intelligent individual that says you can understand technical concepts. That being said I don't understand why you continue to talk about what I do as "volume analyzing" when that is not what I do. I do not analyze the volume in-and-of-itself but the amplitude, frequency, azimuth, specific support points and specific resistance points the equally weighted constant volume bar oscillations create in real time. You may have looked at volume from "many different aspects" but I can assure you, what I do isn't one of them so saying there is no lasting aspect to it is incorrect.

I'm not interesting in arguing with you but educating you on something you are unfamiliar with.

J. Pete Steidelmeyer is a brilliant guy but what he does is not what I do nor is it related or remotely close in anyway shape or form.

That's all well and nice, but it's really nothing more than pseudo science when applied to a dynamic and ever-changing market. What you are saying is whatever patterns your system locates repeat in a fashion adequate to obtain profits in a consistent manner.

The first common sense reason this is hogwash gilded in science speak is any fund manager at anytime can execute orders large enough to throw the market out of your preset environment. Unless you are claiming to be psychic--- how would you know when these orders will arrive? This isn't even mentioning the new noise from HFts with phantom volume,order to trade ratios, dark Pools dumping volume.

Please keep your response on topic and no personal jabs or false aPpeals to authority.

 

[ProfLogic]

Quote from ammo:

i don't believe you need to be a nuclear scientist,nor use azimuth's to read price action,k.i.s.s. allows you to get in and out,long or short,at the click of a button,you do need all that stuff to write programs and let a fast but retarded brain(compared to the one between your ears) do the work for you...Simple way of watching price action is to watch what the big guys are doing and notice when they are at agreement or at opposing ends,they are in agreement when like markets turn together, at these turns you will see the biggest moves and know that it will take a while for them to exhaust closing their shorts or longs,..watch the spu's.transports,naz,eur/usd,oil...find support and resistance on all of them and notice how they all fire in tune,once you have that figured out,adjust your timeframe to your risk tolerance... months,weeks,days ,hours, minutes and place your bets

Ammo, I agree there are many many ways to profit from the information the markets and our charts provide us each day. This is the exact reason why different people and their different methods are potentially successful. It is essential to make this process as simple as possible because traders just can't do "complicated". Even the smartest ones.

What bone does works because he has spent the time and effort in making sure there is consistency in what he sees and his decision making process. What I do works because I have spent the time and effort in making sure there is consistency in what I see and in my decision making process. I assume that goes for you and many others as well.

We that actually trade need not prove that to others what we do works, just capitalize on what each of us have personally tested and validated. In fact, what some of us do is not duplicable by others, not because of a bad method but do to the lack of patience needed to complete the learning process or a lack of willingness to put forth the effort to test it.

I've always known there is far more money in trading than teaching but still taught classes for about 5 years. Teaching allowed me to expand on the process I taught by bringing in couple hundred people to help in the development and growth of my method. One brain can only do so much but many can help fill in the spots and make improving the process go faster and smoother.

What I do is not easy from a technical aspect but it is simple from a visual aspect and that is why it is simple to validate from simply watching the charts.

 

[ProfLogic]

Quote from marketsurfer:

That's all well and nice, but it's really nothing more than pseudo science when applied to a dynamic and ever-changing market. What you are saying is whatever patterns your system locates repeat in a fashion adequate to obtain profits in a consistent manner.
The first common sense reason this is hogwash gilded in science speak is any fund manager at anytime can execute orders large enough to throw the market out of your preset environment. Unless you are claiming to be psychic--- how would you know when these orders will arrive? This isn't even mentioning the new noise from HFts with phantom volume,order to trade ratios, dark Pools dumping volume.
Please keep your response on topic and no personal jabs or false aPpeals to authority.

I repeat, each time you post you dig yourself a deeper hole.

A fund manager or market maker CAN'T execute an order, of any size, to permanently (only temporarily) throw a chart (not market) out of its present environment. Those individuals place orders based on their own research to make profit. They will never arbitrarily place orders that go 100% against their research simply to throw the market off kelter.

Your so called "Black Swans" create such like occurrences but I've proved this, time and time again, that a well balanced chart can and does foresee extreme tops and extreme bottoms on those charts to take advantage of extreme moves in the market. Sort of like the call in advance I made Thursday in REAL TIME for the pull back in Crude Oil. What I do isn't advesely effected by HFTing or dark pools. If it registered in GLOBEX, it is read, period.

I repeat yet again, if you tested what I do you could see this for yourself but you are, for whatever reason, incapable or unwilling to perform that task. Much easier for you to simply say it "can't work".

It is anything but GILDED. It is simple math which is why you seem to have such a hard time comprehending it.

You are the one that began pulling the conversation off topic, you are the one that began making personal jabs and snide remarks and you are the one that made the appeal to the site authorities which is why WE ARE EVEN HAVING THIS CONVERSATION IN THE FIRST PLACE. You have BPD and need help.

 

[ammo]

Quote from ProfLogic:

Ammo, I agree there are many many ways to profit from the information the markets and our charts provide us each day. This is the exact reason why different people and their different methods are potentially successful. It is essential to make this process as simple as possible because traders just can't do "complicated". Even the smartest ones.

What bone does works because he has spent the time and effort in making sure there is consistency in what he sees and his decision making process. What I do works because I have spent the time and effort in making sure there is consistency in what I see and in my decision making process. I assume that goes for you and many others as well.

We that actually trade need not prove that to others what we do works, just capitalize on what each of us have personally tested and validated. In fact, what some of us do is not duplicable by others, not because of a bad method but do to the lack of patience needed to complete the learning process or a lack of willingness to put forth the effort to test it.

I've always known there is far more money in trading than teaching but still taught classes for about 5 years. Teaching allowed me to expand on the process I taught by bringing in couple hundred people to help in the development and growth of my method. One brain can only do so much but many can help fill in the spots and make improving the process go faster and smoother.

What I do is not easy from a technical aspect but it is simple from a visual aspect and that is why it is simple to validate from simply watching the charts.

Prof, appreciate your and Bones input,my OPINION is that some folks overcomplicate things,end up with information oversaturation,and end up with,can't see the forest thru the trees,with your or bones mind,there's a tendency to stick it out there,or make the research more important than the goal,this isn't personal,just using the last few posts as a spot to observe in realtime,,it's more about each of us trying to counterbalance an over or under I.Q in your case,any ones strongest or weakest asset,ego for others,..an under I Q might be prone to under achievement and try to over compensate with trying for big scores,his life might easily see the forest thru the trees and he complicates it with his self image,some people get easily offended and offensive....we see this in 99% of the threads......that offensive,defensive,offensive personal stuff has so much to do with trading...its the largest common denominator in every thread....the inability to get past it for so many is where the gravy is for the rest ..it's easy to see the market when you get out of your own way,get past yourself