Technical Analysis does not work, never did, never will

[Handle123]

Facts are that you are GUESSING and PREDICTING everytime you enter a trade without a real edge. Only the deluded believe that TA gives an edge-- facing reality is the first step to winning....

Fact is whether you have an edge or not, EVERYONE is "GUESSING and PREDICTING everytime you enter a trade", cause I never heard you or anyone else talk about crystal ball. You take trades based on previous data or charts, but you are making educated guesses and you are predicting it will be profitable, cause only two things in stone are death and taxes.

Even using FA can be considered to be a form of TA, TA is math based or "numbers", what you looking at in FA? Earnings reports, sales, debt, you making comparisons. Unless you flip a coin letting it say whether you are Heads you buying, you going to use some type of Math or numbers. And when it gets right down to it, regardless of which direction you care to travel, majority of people lose in the markets. They often no different than bettors at a casino.

Really, what difference does it make?

 

[lawrence-lugar]

View attachment 158972

...Is that your boat? if not, that's kind of tacky to post photos of yourself next to it. ops: (possibly making others assume it's yours)

 

[i am nobody]

If you are right 70% of the time you will soon be the wealthiest person on earth.

I know somebody who is right 70% of the time. Each profitable trade makes him 100$. The 30% losing trades cost him each time 300$. So he loses constantly money, which is opposite to the statement from nearly God Marketsurfer. So his statement is totally stupid. He does even not understand the basic math about profits and losses.

About the wealhtiest man on earth dogma:
If I watch the Forbes 500 list, I see not a single trader (Ta or not TA) in the top 25.

This can mean only two things:

1. the statement is totally stupid and there can be successful traders even not being in the "richest of the world list".
2. there are no profitable traders in the world, so everybody is a loser and nothing works.

 

[kut2k2]

I know somebody who is right 70% of the time. Each profitable trade makes him 100$. The 30% losing trades cost him each time 300$. So he loses constantly money, which is opposite to the statement from nearly God Marketsurfer. So his statement is totally stupid. He does even not understand the basic math about profits and losses.

About the wealhtiest man on earth dogma:
If I watch the Forbes 500 list, I see not a single trader (Ta or not TA) in the top 25.

This can mean only two things:

1. the statement is totally stupid and there can be successful traders even not being in the "richest of the world list".
2. there are no profitable traders in the world, so everybody is a loser and nothing works.

Surf is very ignorant about math, no wonder he blew up his hedge fund.

 

[londonkid]

Great point-- see I learned a long time ago that TA SELLS. It fits perfectly with the mindset of losers and fast money addicts. Just follow this map ( the chart) to wealth-- it's a follow the leader lemming philosophy of the masses-- either they grow out of the delusion or end up broke. surf

I actually agree with you Surf. TA does sell. People buy the dream. People think the game is easy and buy cookie cutter services. That doesn't mean TA methods dont work.

 

[i am nobody]

I actually agree with you Surf. TA does sell. People buy the dream. People think the game is easy and buy cookie cutter services. That doesn't mean TA methods dont work.

For the first time in my life I must admit that Surf is indeed partially right.

1. TA can work but only if the trader has all the qualifications needed to make it successful.
2. most traders don't have it so for them it will not work.
3. sellers abuse the fact that TA works for some traders very well, and project these returns on the victim, potential buyer. So they sell a dream.
4. This dream is however for a small group of traders reality and not a dream.
5. sellers use "the overestimation of their ego" of most people. In general most people think they are much better than the average trader. The same applies in all areas: better driver, better swimmer, better husband..... than 90% of the population.

Give an empty excel to two different persons and give them a mathematical problem to solve.
The one who masters excel will have much better results in resolving than the second one who has no clue about excel.
Trading in general and TA in particular have the same problem: if you have no clue you will always lose and it will never work.

In general: to have good results you should be really good in what you do. No matter what it is. If not it will be a personal failure, not a comfirmation that things don't work.

 

[i am nobody]

...Is that your boat? if not, that's kind of tacky to post photos of yourself next to it. ops: (possibly making others assume it's yours)

Surely not Surf's boat. Boat is registered on Cayman Islands, but rumours say the boat belongs to U2.
The boat was built in the Netherlands, by coincidence the country through which U2 transfer their income to pay almost zero taxes. Dutch sandwich.

 

[NoVoodooHere]

Well this thread blew up all of a sudden. I really enjoyed in particular the comments about TA being "math". I'd like to see some statistical comparisons of the predictive power of TA to say reading entrails, or, for that matter, flipping coins. Of course we are speaking here of your indicator-variety line-drawin', support/resistance proclamatin', fibonnadumbass worshipin' TA, I presume.

Real men don't use technical analysis
The very concept is so damn GAY that I shall hereforth only refer to it in PINK font color

 

[i am nobody]

Real men don't use technical analysis

And gay men prefer to post in PINK.

Now I understand your problem: you don't want to use TA because real men don't use it.
You are not a real man (as you are apparently gay) and try to tell your ego that you are a real man because you don't use TA. You must be having big mental problems and feel really the biggest loser on earth to behave and think like that. I see no other explanation why you can make such a idiotic statement about TA.
The bigger the despair the crazier the logic used to comfort your brain and suppress the loser's feeling.

 

[NoVoodooHere]

And gay men prefer to post in PINK.

Now I understand your problem: you don't want to use TA because real men don't use it.
You are not a real man (as you are apparently gay) and try to tell your ego that you are a real man because you don't use TA. You must be having big mental problems and feel really the biggest loser on earth to behave and think like that. I see no other explanation why you can make such a idiotic statement about TA.
The bigger the despair the crazier the logic used to comfort your brain and suppress the loser's feeling.

Alright Mr Nobody, I can see that I've offended you here, so will dial back a notch

Noted that my statement regarding drawing lines & indicators on charts of past price data having no bearing on future events... Is "idiotic". Thank you for your patronage