Technical Analysis = CRAP

[Pekelo]

Quote from marketsurfer:

This was in 2000 to 2002. I was a serious TA guy then...

You didn't really answer the question, there were 2 possible answers:

1. TA is legit and you were a serious and legitimate guy working in the industry.
2. TA is bullshit and you were paid to bullshit people.

There is simply no 3rd option...

P.S.: Technically speaking there is a 3rd option, TA was working then but not now, but that rises the next question; what stopped TA suddenly working???
P.S.S.: Man, this thread should be in Religion.... :eek:

Quote from marketsurfer:

However, could your TA ability be programmed or does it rely on intuition and feel?

Sure. The Dragon pattern or the 2nd gap law are both programmable and objective. Any other questions???

 

[marketsurfer]

Quote from Pekelo:

You didn't really answer the question, there were 2 possible answers:

1. TA is legit and you were a serious and legitimate guy working in the industry.

2. TA is bullshit and you were paid to bullshit people.

There is simply no 3rd option...

P.S.: Technically speaking there is a 3rd option, TA was working then but not now, but that rises the next question; what stopped TA working???

P.S.S.: Man, this thread should be in Religion.... :eek:

I was a true believer in TA, enough to mentor the fund manager ( a hardcore fundamental driven trader) in TA plus provide trade analysis during my tenure at the firm. I believed in what I was doing therefore I wasn't BSing anyone. Hasn't your philosophy, ideas ever changed?

 

[Neenisti]

Quote from marketsurfer:

Fantastic, I have been waiting years to have this opportunity. I will be completely and 100% honest with my reporting what I witness. In fact, if it's legit, let your "friend" know I'll be happy to obtain extensive funding for him--- if everything else passes the DD process. I live for finding edge, so this is great-- although I doubt the veracity. Surf

PS. The friend wouldn't happen to be in Ohio, would he??

He doesn't need funding and he is counting on your doubt.

 

[Pekelo]

Quote from marketsurfer:

I was a true believer in TA,

I didn't ask about your belief system or religion. Simple question, was it working or not back then? If it didn't you were bullshitting people...

 

[marketsurfer]

Quote from Pekelo:

I didn't ask about your belief system or religion. Simple question, was it working or not back then? If it didn't you were bullshitting people...

Working in what way? Itbwas good for illustrating trades to clients. Some trades made money, others did not. Were the winners due to my TA, the managers skill at fundamental analysis, good guesses or strong money management? Once again, no. BS I Really don't get your point.

 

[RCG Trader]

Quote from marketsurfer:

I was a true believer in TA, enough to mentor the fund manager ( a hardcore fundamental driven trader) in TA plus provide trade analysis during my tenure at the firm. I believed in what I was doing therefore I wasn't BSing anyone. Hasn't your philosophy, ideas ever changed?

But you are still using TA to make decisions. Why do you bash it?

 

[baro-san]

Quote from TheGoonior:

Where the hell did you pull that statistic from?

He probably flips coins, or burgers.

 

[bmwhendrix]

OP, simply post your charts with entry, exit and reason. It will soon be clear if it is TA or you.

 

[NoDoji]

Quote from DEM BONES:

Generally speaking basic TA such as buying at support and shorting resistance more often than not will work,no?

Yes, it works more often than not and with positive R:R in place, the edge sharpens significantly. I now use 2-10 tick stops and my minimum profit target is 20 ticks with some days (like today) offering several trades of 50 ticks or better.

I trade strictly off charts with no indicators.

Quote from Eddiemorra:

teach me!
losing (slowly now rather than hemorrhaging money) for a few years with TA here

Quote from Eddiemorra:

I genuinely hope that im wrong, but after a few years of trading, I think that TA/chart reading will only lose you money.
Although, it is great for people to show you in hindsight what you should have done after the fact.

Eddie, my offer stands unless you've already told the moderators and put me on ignore

 

[Pekelo]

Quote from marketsurfer:

Working in what way?

Since you don't even understand the topic of this thread, you shouldn't be posting here at all.

Surf, you are defending a lost position like religion. That makes you a preacher in a Jack short of way. That is not a compliment...

By the way, you guys could have illustrated trades to clients with a nice, shiny coin. Here Sir, we flip it, then take a position according to how it lands and manage that position well.

If TA is bullshit, you can't use it for nothing, not even for illustration. It is like I would use astrology to illustrate my life....