I disagree about every tool using past information. Take company forecasts for example or macro economic forecasts for that matter. While i agree, only the past exists, if you use forecasts -- are you using the past?
surf
Technical Analysis does not work, never did, never will
- Thread starter NoVoodooHere
- Start date
I disagree about every tool using past information. Take company forecasts for example or macro economic forecasts for that matter. While i agree, only the past exists, if you use forecasts -- are you using the past?
surf
Are you the author of the article at the below link? If yes, why would you write that TA can improve your trading and then come on here and bash TA?
http://www.tradingmarkets.com/recent/using_volume_indicators_to__improve_trading-678475.html
"Price and volume are the two basic building blocks for technical analysis. This article will discuss the 3 main volume indicators and how to use them to improve your trading."
so that means there are people who sell the snake oil, and there are people who make the snake oil. But the later group won't dare try the snake oil -OR- recommend that anybody else does. Got it?
I have evolved as a trader since that time.
Remember, when i bash TA its pure TA without any outside factors considered. Purely price movements.
When combined with other factors,and used properly TA can have some value to put the market in context with itself.
surf
Give me an example of company forecasts NOT using past information...
Give me an example of a forecast of GDP or monthly job's report NOT based on using past information.
To add to the above-- book reading software that analyses the bids and asks prior to the trade being executed does not use past price to make decisions.
Oh, so TA does have value but only the way that you use it.
Sure--
" we are launching a new division with a product that will crush the iPhone"
"It looks like Iran is going to be invaded by china".
There's no past there.
surf