well, ok, no argument about the 3/10. why wouldn't random entries give you the same or better odds???
ta seems to be a crutch for you--- if your disciplined and apply money management, you should make money. pattern has nothing to do with it.
surf
Technical Analysis Doesn't Work
- Thread starter rcanfiel
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well, ok, no argument about the 3/10. why wouldn't random entries give you the same or better odds???
ta seems to be a crutch for you--- if your disciplined and apply money management, you should make money. pattern has nothing to do with it.
surf
I will never believe a computer can outtrade a human. Also with all those quants chasing off inefficiences comptuers used to catch I am not surprised there is no edge in doing it that way. But it neither proves nor disproves anything about TA.
Human skill is the best and worst aspect of trading. The human skill of adapting and analyzing and reacting come with the unfortunate traits of greed, fear, doubt and lack of discipline.
gm Surf,
It all depends on the parameters you set for the term TA.
Expanded to it's limits ie mathematical manipulation of input data, then I believe that it is highly programmable but the final interpretation is best left to the mark 10 eyeball and brain as they cope better with the prevailing conditions.
Using TA to highlight the completion of certain market conditions is excellent IMO opinion because it leaves your brain clear for decision making.
The scanning function is then largely, but not entirely, delegated to machinery and the traders mind is clear.
spike500
>If someone proves that TA works, THAT person will become >wealthy.
Even mastering TA will not mean sure riches as so many have
found. We all know about the emotions that can wreck any
perfect analysis. In addition, the abillity to timely screen those
stocks that are providing technically attractive opportunities
reduces the number of trades needed to become as wealthy
as many dream of becoming.
>If someone proves that TA works, THAT person will become >wealthy.
Even mastering TA will not mean sure riches as so many have
found. We all know about the emotions that can wreck any
perfect analysis. In addition, the abillity to timely screen those
stocks that are providing technically attractive opportunities
reduces the number of trades needed to become as wealthy
as many dream of becoming.
surf, are you an retard or didn't i know how to express myself the best way possible?
My point was that random entries are well.. random... it can't yield you anything.... over the long run.
TA, by identifying patterns (and not to mistake that for "chart patterns"). By patterns i mean, certain market circumstances.... keeps you consistent...
Why is this so hard to understand!?!!
My point was that random entries are well.. random... it can't yield you anything.... over the long run.
TA, by identifying patterns (and not to mistake that for "chart patterns"). By patterns i mean, certain market circumstances.... keeps you consistent...
Why is this so hard to understand!?!!
i meant "a retard"
i wanted to say an idiot, but changed the word
)
i wanted to say an idiot, but changed the word
)marketsurfer
>why wouldn't random entries give you the same or better odds???
Because you would have to be lucky to trade in the direction
of the trend, which would be required to many money.
Random entries would just be gambling.
>why wouldn't random entries give you the same or better odds???
Because you would have to be lucky to trade in the direction
of the trend, which would be required to many money.
Random entries would just be gambling.
Indeed, due to emotions it is not sure he will become rich. But it proves that TA works if the right person has the right knowledge.
About the timely screening, i know persons who trade only the ES and make more than 10 million dollars a year a person. Perhaps not as rich as many dream, but sufficient to me, and probably better than 99.99% of the traders on ET.
but isn't 3/10 worse odds than random?? you need to be lucky on your entries with or without TA.
surf
TA is a tool just as fundamental analysis is a tool. There is no lack of tools in this world, be they trading related or otherwise. Some are worthwhile, and some are decidedly fanciful by most objective standards. There is also no lack of unskilled craftsmen who do not know how to implement the various tools at their disposal to maximum effect. An apprentice tradesman, as well as his more experienced counterpart, would do well to stick to the basic, essential tools and then not blame these most elementary items on his faulty workmanship.
And please, please, please stop referring to that odious fowl at every turn. I enjoyed Fooled By Randomness as much as the next guy, but enough is enough already.
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