Technical Analysis Doesn't Work

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I did enough research and testing of my own to make it "clear" that TA is pretty much of a lemon. Since it appears that you are still attached to the TA umbilical cord, that says enough about where your failures lie.

And BTW, where was your own track record, again?

In you eyes,it is a lemon due to the fact that you could not produce satisfactory simulated returns..

Sorry my fine friend,I do not have an audited track record..
But I was the managing director in charge of proprietary derivatives at a major japanese bank,followed by head trader of equity derivatives/emerging market equity derivatives at one of the largest investment banks...

Regardless,your claims are unfounded and ludicrous and I know this from actual trading and audited track record of others...

Anything else you care to know??
 
Quote from jack hershey:

I agree Prof.

ranfiel is just Phishing for info for his future BS vendor stuff...
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Now this would actually make sense. Not much else does.

- It is hard to believe that anybody is that naive or uneducated in trading that he does not know that people are and have been trading succesfully by looking at price information represented on a chart

- It is also hard to believe that anybody would actually consider people who trade like this consistently and take money out every month for decades successfully "black swans". (Hint: a black swan is supposed to be a UNIQUE, unforseeable event).

- Even giving the mindset of the sad dullard who started this post, it is hard to believe that he could actually consider the record of these people the result of money management, luck etc.

- Even giving the limited mental resources available to this failed vendor and the Charlatan of 5th Avenue, it makes hardly any sense to call these consistent results "intuition". Intuition in trading, after all, means that the brain is "chunking" information, analyzing it in a flash and coming to instant decisions. But this means THAT THE INFORMATION MUST BE THERE to be chunked. According to the OP, there is "No predictive value" in information gleaned from a chart. So where do these wizards get the information from??

- Oh no.... Please do not insult readers here and respond (not that I can see your response anyway) that Marty Schwartz (who, lest your poor little sweaty thinking engine gets stuck on him, is JUST AN EXAMPLE) has "different information flows" such as having a direct phoneline to the chairman of the Fed or being a member of the Skull and Bones with George Bush.

But wait a minute....Jack just might be right: You start a thread like this, hoping that somebody jumps forth and says "What do you mean TA does not work?? I prove to you that it works!" and voila- you might finally have what you could not come up with by yourself in all this years: an approach, an idea, or a method.... and who knows: perhaps you CAN learn this accursed thing, trading, after all, and even become a "service provider" with your own website... then you could also move out of the rented basement apartment and....
 
You'd think the t.a crowd would get hep,
realize that claims of always-in, always-on-the-right-side, and 3X daily range are childhood fantasies and that such claims only make them ridiculous in the eyes of others.
 
Quote from taowave:

I did enough research and testing of my own to make it "clear" that TA is pretty much of a lemon. Since it appears that you are still attached to the TA umbilical cord, that says enough about where your failures lie.

And BTW, where was your own track record, again?

In you eyes,it is a lemon due to the fact that you could not produce satisfactory simulated returns..

Sorry my fine friend,I do not have an audited track record..
But I was the managing director in charge of proprietary derivatives at a major japanese bank,followed by head trader of equity derivatives/emerging market equity derivatives at one of the largest investment banks...

Regardless,your claims are unfounded and ludicrous and I know this from actual trading and audited track record of others...

Anything else you care to know??
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no offense meant as you have impressive credentials however there are astrologers and esoteric market practioners of all types with audited track records.... audited actually means little as one can have multiple accounts and only show the auditor the succesful ones among many other tactics. the fact is when objectively tested TA fails to show an edge. why do you think this is?
TA consists of dramatic hindsight biases that result in the creation of fundamentalist TA true believers and or evangelists like JH or P.logic...... these guys and those like them actually place seemingly religious type connotations on TA with outrageous claims of perfection and earnings of great wealth by following a static system. this level of projected confidence draws others to the flock and the delusion propagates.
 
Quote from marketsurfer:

no offense meant as you have impressive credentials however there are astrologers and esoteric market practioners of all types with audited track records.... audited actually means little as one can have multiple accounts and only show the auditor the succesful ones among many other tactics. the fact is when objectively tested TA fails to show an edge. why do you think this is?
TA consists of dramatic hindsight biases that result in the creation of fundamentalist TA true believers and or evangelists like JH or P.logic...... these guys and those like them actually place seemingly religious type connotations on TA with outrageous claims of perfection and earnings of great wealth by following a static system. this level of projected confidence draws others to the flock and the delusion propagates.
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Surf,I think we both know that trading is a very difficult business in which it is survival of the fittest..I am with you 100% regarding the "exceedingly impressive" returns of traders taking out 9x the average range. I dont believe it for one split second,but that is only my beleif system based on me never coming close to those returns..not by a long shot..

There are traders who are very successful using pure T.A. for entries,as there are very successful traders using derivative style trading.And i would certainly agree with you that for every one trader we find who is successful,there are 10 who fail.

I am not judging P.L or J.H,but they have certainly made some very strong claims,but none stronger than Rcanfiels religious type connotations on TA..IMHO,they are equally "out there"and the truth probably lays somewhere in the middle...
 
Quote from taowave:

Surf,I think we both know that trading is a very difficult business in which it is survival of the fittest..I am with you 100% regarding the "exceedingly impressive" returns of traders taking out 9x the average range. I dont believe it for one split second,but that is only my belief system based on me never coming close to those returns..not by a long shot..

There are traders who are very successful using pure T.A. for entries,as there are very successful traders using derivative style trading i would certainly agree with you that for every one trader we find who is successful,there are 10 who fail.

I am not judging P.L or J.H,but they have certainly made some very strong claims,but none stronger than Rcanfiels religious type connotations on TA..IMHO,they are equally "out there"and the truth probably lays somewhere in the middle...
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no argument here, tao. i agree, TA has its place but it is but one aspect of a wholistic and sane market view.

regards,

surf
 
Quote from taowave:

I did enough research and testing of my own to make it "clear" that TA is pretty much of a lemon. Since it appears that you are still attached to the TA umbilical cord, that says enough about where your failures lie.

And BTW, where was your own track record, again?

"In you eyes,it is a lemon due to the fact that you could not produce satisfactory simulated returns..

Sorry my fine friend,I do not have an audited track record..
But I was the managing director in charge of proprietary derivatives at a major japanese bank,followed by head trader of equity derivatives/emerging market equity derivatives at one of the largest investment banks...

Regardless,your claims are unfounded and ludicrous and I know this from actual trading and audited track record of others...

Anything else you care to know??"

Yes. Why did you think trying to compare penis sizes has anything to do with proving or disproving TA???

Longterm studies of the value of TA are pretty pitiful. Quoting your resume does not change this. It is not about credentials and belief. It is about the validity or not of TA. You have said little so far that has pushed this forward.

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