Technical Analysis does not work, never did, never will

[marketsurfer]

It doesn't work for all charts or all stocks.
T.A. works 70% of the time.
You can still make money only right 70% of the time.
Even pros are wrong 33% of the time. in fundamental and technical analysis
Buffet was wrong about investing in lots of investments. and trades.

I don't know anyone who is 100% right all the time.

Check this dragon pattern.

http://www.elitetrader.com/et/index.php?threads/dragon-pattern-and-bottom-formation.295655/

you are very wrong.

If you are right 70% of the time you will soon be the wealthiest person on earth. Or at least the greatest trader who has ever lived.

 

[NoVoodooHere]

Well there's your problem right there:

Dragon pattern

OMFG Are you for real? It's raining fools! A Fool buffet!

 

[NoVoodooHere]

you are very wrong.

If you are right 70% of the time you will soon be the wealthiest person on earth. Or at least the greatest trader who has ever lived.

IMO he's reverse-trollin' (me). No way such a specimen exists, it is the stuff of legends! An el'dorado find

 

[NoVoodooHere]

From what I gather this is your run-o-the-mill "TA Debate Thread", a weekly occurrence & to be sure (in green-speak) oddly re-incarnating like clock-work. Which means the yocals here must toy w/ said threads.

My question is: Do said threads usually end in reverse-trolling by a krusty old salt in disguise (as was the case here)? If so, can I get my invitation to the back-room now? I'd like a place to kickback some stiff drinks and not have to pretend to not be a devient, after a hard day of tweaking out in front of 3 screens.

 

[Handle123]

Check this Dragon

 

[Q3D]

How come so many trading teachers and veteran traders cut back or quit trading to teach/sell trading full time if TA works so well?

 

[NoVoodooHere]

How come so many trading teachers and veteran traders cut back or quit trading to teach/sell trading full time if TA works so well?

OMG... Yeah... Why is that?

 

[NoVoodooHere]

I has figured it out!!!

If trading with technical analysis works, not so much.... Simply stop trading and devise a way to sell your system/technique/coaching/services/indicators/bullshit to gullible seekers of riches.

Converted I am, yes'ir technical analysis is awesome!!!

 

[Q3D]

You could still position trade w/ a longer term approach and blend fundamental analysis with TA and call yourself a TA trader too.

I doubt most day trading teachers actually day trade with real money while teaching.

 

[NoVoodooHere]

You could still position trade w/ a longer term approach and blend fundamental analysis with TA and call yourself a TA trader too.

I doubt most day trading teachers actually day trade with real money while teaching.

Yeah there is really no debate or uncertainty on this topic, it is quite clear, just follow the money: If you can trade for a living (& particularly by using a "system" or "method") why on earth would you give up that uber-scalable printing press to deal with a bunch of random Kooks. Come on. How can peeps be so gullible?