Technical Analysis Has Contributed To A Massive Wealth Redistribution

[Sergio77]

Technical Analysis was created during the 60s and 70s? LOL

I think he means the Edwards and Magee book.

 

[Sergio77]

"If someone wants to just follow market moves, then buy and hold is the answer and there is no need to use any technical analysis." LOL!! Maybe someone doesn't want to follow every damn market move, just the ones that lead to profits.

Why do you make such stupid statements? Can you understand the difference between a conditional with existential qualifier and a proposition with a universal qualifier? Would you be here trolling every day had you a method of making money?

Yes, I do not agree with a lot in that article but it is a good base for a civilized discussion imo. Nobody commented on the serial correlation evidence and lack of it in recent years.

 

[Money Trust]

It all comes down to one thing. Whether or not you make money off of your method. Continuously arguing and trying to debunk someone else's methods is bs. It seems that's what ET is all about now...this same worn out topic.

 

[kut2k2]

It all comes down to one thing. Whether or not you make money off of your method. Continuously arguing and trying to debunk someone else's methods is bs. It seems that's what ET is all about now...this same worn out topic.

It's sergio77 and his ilk that keep bringing this horseshit up. Complain to the anti-TA whiners instead of everybody in general.

 

[kut2k2]

I think he means the Edwards and Magee book.

First published in 1948.

 

[Laissez Faire]

Technical analysis is responsible for a lot of wealth transfer, absolutely agree. Used incorrectly by the majority of traders and exploited for benefit by the elite few.

Well put.

Most traders using or rather attempting to use, technical analysis, invariably fail doing so.

Doesn't mean an elite few will not make something very useful out of it. Being a winner has always been for the few and trading is certainly no different.

 

[Q3D]

Consumers and victims of technical analysis must also be vigilant against TA sellers, those who are profiting from technical analysis by presenting materials-for-profit, without presenting any evidence of their real-time competency in day trading.

 

[kinggyppo]

"Compression with technical analysis basically maps a vector of historical prices to some representation of it for reducing prediction complexity, i.e., it is a lossy compression method because information is lost, as opposed to some more advanced but equal ineffective lossless methods where information is not lost" ????????? say what?

 

[Q3D]

What that means is the patterns we TA consumers see on charts are erroneously reified and reductionistic heuristics with no quantifiable or reliable probabilistic certainty beyond the number TA consumers pull out of a hat to convince themselves they are not gambling.

 

[kut2k2]

"Compression with technical analysis basically maps a vector of historical prices to some representation of it for reducing prediction complexity, i.e., it is a lossy compression method because information is lost, as opposed to some more advanced but equal ineffective lossless methods where information is not lost" ????????? say what?

Exactly. I haven't seen a load of BS like that since Jack Hershey was in his prime.