Technical Analysis Doesn't Work

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Quote from Thunderdog:

Neither is luck and skill. Where's Taleb when you need him, eh?
:p

P.S. I think that I accurately concluded that you said precisely nothing in that earlier post I referred to. :D

P.P.S. But, hey, if I'm going get on your case about some of your trades, it's only right that I congratulate you on the (occasional) ones you get right, irrespective of whether or not strategically imbedded horseshoes played any role in the outcome.
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clever.

it was not meant to teach, it was meant to illustrate how i try to approach the market.

thank you, tdog.

regards,

surf
 
Quote from jack hershey:

Those little guys all around you are called lemmings and what you are looking at is waves on the rocks.
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there are lemmings everywhere. We should be dosing them with reality, not pushing them into the fables of unsubstantiable trading methods

Gee, here are some good books on TA!!!

Hey, what settings are you using on your RSI?

Hey Fred, I see you have been successfully following ADX in the third junction of Mars. What is your secret?

If I use 50 indicators, what is the threshold for entry when 30 of them turn bullish?
 
Hershey and his minions believe as their axiom #1 "the market is always right".

This is like telling the lost driver who asks "where am I ?" the answer : "you are in your car."

It is factually correct but actually worthless in giving useful information to the lost driver.

Here is a summary of the Yogi Berra like TA from Jack Hershey in the epic Spydertrader futures journal:

If the market is trending, you should have taken a position in the correct direction at the maximum point of the previous move

If the market has turned from a trend you should have reversed at the maximum point of the previous move.

What is the sound of one hand clapping ?
 
Quote from ^^^^^^:

worthless in giving useful information to the lost driver.

Here is a summary of the Yogi Berra like TA from Jack Hershey in the epic Spydertrader futures journal:

If the market is trending, you should have taken a position in the correct direction at the maximum point of the previous move

If the market has turned from a trend you should have reversed at the maximum point of the previous move.

What is the sound of one hand clapping ?
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did he really say that? what a trip!

surf
 
Quote from spike500:

Confucious on Knowledge :

Real knowledge is to know the extent of one's ignorance.

To know, is to know that you know nothing. That is the meaning of true knowledge.

When you say something, say what you know. When you don't know something, say you don't know. That is knowledge.

Study the past if you would define the future.


Some people should think about these quotations serioiusly because it could be useful for them. But they probably think it is not meant for them but for the others, as they already know everything.
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True!
 
Quote from ^^^^^^:

Hershey and his minions believe as their axiom #1 "the market is always right".

This is like telling the lost driver who asks "where am I ?" the answer : "you are in your car."

It is factually correct but actually worthless in giving useful information to the lost driver.

Here is a summary of the Yogi Berra like TA from Jack Hershey in the epic Spydertrader futures journal:

If the market is trending, you should have taken a position in the correct direction at the maximum point of the previous move

If the market has turned from a trend you should have reversed at the maximum point of the previous move.

What is the sound of one hand clapping ?
More...

The market is always right.

The market is perfect and infallible because it is perfectly random and perfectly chaotic.

One must learn to view price move inside of that chaos on a real-time basis to understand what Jack is saying. Looking at the market using old standards and yes, you will be as lost as your driver analogy.

That is part of the reason why individuals do not understand what Jack, Spyder and I do. They look at what we do using their own parameters and it doesn't work. It's like someone trying to understand how a Wankel engine works using the blueprint for a for a typical 6 cylinder engine. The first response would become, "you're crazy, this doesn't work" and you would be correct.

Anytime you apply your own relatively untrained opinion regarding someone's exact trading environment to that person's specific application the outcome will never be congruent. And as must as we try we can not fit a tomato inside a thimble.
 
Quote from ProfLogic:

The market is always right.

The market is perfect and infallible because it is perfectly random and perfectly chaotic.

One must learn to view price move inside of that chaos on a real-time basis to understand what Jack is saying. Looking at the market using old standards and yes, you will be as lost as your driver analogy.

That is part of the reason why individuals do not understand what Jack, Spyder and I do. They look at what we do using their own parameters and it doesn't work. It's like someone trying to understand how a Wankel engine works using the blueprint for a for a typical 6 cylinder engine. The first response would become, "you're crazy, this doesn't work" and you would be correct.

Anytime you apply your own relatively untrained opinion regarding someone's exact trading environment to that person's specific application the outcome will never be congruent. And as must as we try we can not fit a tomato inside a thimble.
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this is psychobabble, classic guru speak of the first order.

there is a diconnect from reality here. deliberate or not.

read the first two lines, tells one all they need to know.

surf:D
 
Quote from marketsurfer:

this is psychobabble, classic guru speak of the first order.

there is a diconnect from reality here. deliberate or not.

read the first two lines, tells one all they need to know.

surf:D
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Re disconnects from reality, you of all people should know.

And the fact that you don't understand the rest of it speaks volumes.

LC
 
Quote from Lamont_C:

Re disconnects from reality, you of all people should know.

And the fact that you don't understand the rest of it speaks volumes.

LC
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do you really take proflogic's post seriously?

:confused:
 
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