Technical Analysis = CRAP

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Yeah I know, and TA is any form of analysis used to make trading decisions that is NOT based on company fundamentals. Price action fits that bill exactly.

Quote from Frits:

This thread is about TA mate. If you want to trade on price action you don't need a chart with lines in it. A DOM-trader will do to see price action and volume.

Nevertheless I personally think price action is very interesting and if you want to know more about it, start here. www.nobsdaytrading.com It's quite informative and good for a few laughs!

Shaka,

Frits:cool:
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TA is a slippery jungle of delusion for most. Hindsight bias is a killer in this business and TA feeds that sinful nature. HOWEVER, if you are a true believer, you might as well proceed in a systematic way. My friend David Aronson's book "evidence based technical analysis" is the only place to start. Almost all of the "educational" material out there on TA is wives tales , delusion and money making schemes ( scammers correctly guess that if you believe in TA, you are an easy mark).

READ THE BOOK!!! Or go down the rabbit hole of completely spurious beliefs.
 
Quote from Fireplace:

Yeah I know, and TA is any form of analysis used to make trading decisions that is NOT based on company fundamentals. Price action fits that bill exactly.
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I think the OP means "chart reading" when he refers to technical analysis.
 
Quote from Red_Ink_inc:

So true. If you put the best electric guitar in my hands I guarantee it's gonna sound like a cat being killed when I play it. Does that mean the guitar is crap?
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That's one of the better analogies I've heard.
Well stated.
TA is a science and like any science class in school there were some that excelled and others that played with themselves in the back of the room and paid the smart kids to do their homework.
 
Quote from marketsurfer:

TA is a slippery jungle of delusion for most. Hindsight bias is a killer in this business and TA feeds that sinful nature. HOWEVER, if you are a true believer, you might as well proceed in a systematic way. My friend David Aronson's book "evidence based technical analysis" is the only place to start. Almost all of the "educational" material out there on TA is wives tales , delusion and money making schemes ( scammers correctly guess that if you believe in TA, you are an easy mark).

READ THE BOOK!!! Or go down the rabbit hole of completely spurious beliefs.
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Says the guy who has blown up and been banned more times than I can remember.
 
Opps, forgot to add. In addition to David Aronson's book. My friend janes Altucher's "trade like a hedge fund" is the only other education one needs on how to trade.
 
Quote from marketsurfer:

In addition to David Aronson's book. My friend janes Altucher's "trade like a hedge fund" is the only other education one needs on how to trade.
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Are those the two books you hang your trades on?
 
Quote from Neenisti:

Are those the two books you hang your trades on?
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Yes, they are the very fundations of the SMRF success :D

Seriously, any more feedback on those books ?
 
Obviously, no real indicator says buy here and sell there. TA is a tool but you need skills to go along with such a tool. Trading takes hard work to master; this isn't an easy profession but I have to say it's better than most.
 
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