Technical Analysis = CRAP

[oraclewizard77]

NoDoji,

You can lead a horse to water, but you can't make him drink. I think this thread could easily be renamed "My name is Frits, and I am too stupid to understand TA."

Feel free to let me know if you want me to change the thread title, or do you feel that would be abuse of my TA power?

Quote from NoDoji:

The trades are winners because price action trading using basic technical analysis works. Also notice that the risk on each setup was significantly less than the initial profit target.

Frits, how would you have traded BIIB on Friday, using the initial 5-min bar as your starting point?



Yes, it was. I answered the poster's question and every potential trade I pointed out was based only on setups I trade and using trade management rules that I use.

 

[Frits]

Quote from NoDoji:

The trades are winners because price action trading using basic technical analysis works. Also notice that the risk on each setup was significantly less than the initial profit target.

Frits, how would you have traded BIIB on Friday, using the initial 5-min bar as your starting point?



Yes, it was. I answered the poster's question and every potential trade I pointed out was based only on setups I trade and using trade management rules that I use.

How I trade is a different subject, though I did mention a tiny bit about it earlier on. I started this thread to open the eyes of those who have been blind for so long in the day trading business.

You can decide for yourself to which group you want to belong to. Whatever decision you make, I wish you best of luck!

Shaka ,

Frits

 

[Eddiemorra]

Quote from dejavu8:

quant is much superior than TA IMHO. i have been using it for past more than three months with no losing trade in trading oil futures.

what sort of information makes up a trade decision when trading from a 'quant' perspective?

 

[dejavu8]

Quote from Eddiemorra:

what sort of information makes up a trade decision when trading from a 'quant' perspective?

it depends on what modelling you are using. you could find some clue here but i didn't use this.

http://lib.store.yahoo.net/lib/fractalfinance/QuantTraderTour.pdf

 

[Fireplace]

Frits, you need to work harder at deciphering the mkts via TA....it sounds like you haven't really given it your full effort.

Quote from Frits:

How I trade is a different subject, though I did mention a tiny bit about it earlier on. I started this thread to open the eyes of those who have been blind for so long in the day trading business.

You can decide for yourself to which group you want to belong to. Whatever decision you make, I wish you best of luck!

Shaka ,

Frits

 

[cvds16]

Quote from Frits:

How I trade is a different subject, though I did mention a tiny bit about it earlier on. I started this thread to open the eyes of those who have been blind for so long in the day trading business.

You can decide for yourself to which group you want to belong to. Whatever decision you make, I wish you best of luck!

Shaka ,

Frits

feel free to elaborate, cause what you are doing seems like TA to me at first sight, you just don't call it that way ...

 

[Fireplace]

Ah, so Frits is one of those guys who DOES trade using TA but doesn't call it TA....

Quote from cvds16:

feel free to elaborate, cause what you are doing seems like TA to me at first sight, you just don't call it that way ...

 

[cvds16]

those are the worst

 

[jsfsn]

Seems like he removed the discretionary part of TA...

 

[Frits]

Quote from Fireplace:

Ah, so Frits is one of those guys who DOES trade using TA but doesn't call it TA....

Another assumption by an empty barrel... Sad, but nothing more than that.