From my understanding...many, many indicators were written for daily charts.
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Technical Analysis is total rubbish! Here's the proof!
- Thread starter SillyWilly
- Start date
That's why 95%+ retail punters, most of whom use TA, lose money. Because it's easy. And that's why anyone in professional space hardly ever watches charts or utilizes pure TA. If they performed badly they would be fired within a short period of time. They must be doing something right and retail punters with their TA tools must be doing something wrong. It's really simple statistics. If one can't even count eggs then one is perhaps not suited for trading
sit and watch me trade live..... that is what an investor password means.
And why on earth would a successful trader want to get verified or audited when he can spend his free time golfing or just enjoying himself? Why on earth should i convince you or anybody else?
trading is ridiculously easy for those who understand some basic important concepts and a lot of traders will be laughing at your ridiculous contention that technical analysis does not work
So two likes qualifies calling other idiots? How old are you? And I do not think you even got a single point I made. Can you point to a single account of a trader who uses pure price action with a respectable 5 year or longer track record that is audited,, otherwise verified through credible sources or who has been hired by a highly respectable financial institution where such company's due diligence points to proper vetting. Can you name even a single individual? I can point you to probably over 500 traders in public domain who have been highly successful via non TA trading approaches.
The claim "I am successful that's all it matters to me" or "just because you don't know any does not mean there aren't any" is as stupid an argument as saying "just because you have never seen a beaver fucked by an elephant does not mean it never happened" . Well probability theory tells me it most likely never happened.
Any TA apostle who struck it rich from price action trading alone would die to have his trading record audited and shown to the world. Why there hardly isn't any? Because most likely such individuals don't exist.
I rest my case. I know an angry and frustrated TA crowd will never allow anyone to debate their questionable track record. Much easier to shout down the naysayers.
what benefit will a trader get showing off? why put your family and yourself at risk of being kidnapped.
the reward a trader wants is money-not recognition. what is that recognition worth?
not everybody wants to teach millions of students:money gives freedom and good traders do not need to teach to get additional money.
they misuse TA not use itThat's why 95%+ retail punters, most of whom use TA, lose money. Because it's easy. And that's why anyone in professional space hardly ever watches charts or utilizes pure TA. If they performed badly they would be fired within a short period of time. They must be doing something right and retail punters with their TA tools must be doing something wrong. It's really simple statistics. If one can't even count eggs then one is perhaps not suited for trading
but here i must agree with you that 95 % of TA is not suitable for the traders' objectives which is extremely short termThat's why 95%+ retail punters, most of whom use TA, lose money. Because it's easy. And that's why anyone in professional space hardly ever watches charts or utilizes pure TA. If they performed badly they would be fired within a short period of time. They must be doing something right and retail punters with their TA tools must be doing something wrong. It's really simple statistics. If one can't even count eggs then one is perhaps not suited for trading
you are totally wrong that no one in the professional space ever watches charts. that is ridiculous contention and how on EARTH DO YOU KNOW WHAT EVERY PROFESSIONAL TRADER IS DOING IN HIS OFFICE?
You are diverting from the topic. Someone who has nothing to show for is generally talking and that is about it. Enough said.
what benefit will a trader get showing off? why put your family and yourself at risk of being kidnapped.
the reward a trader wants is money-not recognition. what is that recognition worth?
not everybody wants to teach millions of students:money gives freedom and good traders do not need to teach to get additional money.
Right. I tell you why. Because they believe past prices have predictive power. That myth has already been debunked a long time ago. And yet so many on websites like this still hang their entire life on such misbelief
they misuse TA not use it
You twist my words. I said watch charts and use TA as only tool. I have not met a single trader in my almost 2 decades at institutional trading desks. But please go on...
but here i must agree with you that 95 % of TA is not suitable for the traders' objectives which is extremely short term
you are totally wrong that no one in the professional space ever watches charts. that is ridiculous contention and how on EARTH DO YOU KNOW WHAT EVERY PROFESSIONAL TRADER IS DOING IN HIS OFFICE?
And incidentally, while we are here,who has VERIFIED OR AUDITED that 95 % of traders lose money- the market would close down.
it is likely that 95% of new traders lose money but that is the percentage with all start ups in any business
people are notorious in giving up way too early and change the business in the hope to get rich.
all business require considerable market knowledge which requires a lot of hard work in order to succeed.
it is likely that 95% of new traders lose money but that is the percentage with all start ups in any business
people are notorious in giving up way too early and change the business in the hope to get rich.
all business require considerable market knowledge which requires a lot of hard work in order to succeed.
ṭrue it is not past price I look at, I look at present priceRight. I tell you why. Because they believe past prices have predictive power. That myth has already been debunked a long time ago. And yet so many on websites like this still hang their entire life on such misbelief
and prices take on a very different meaning if it takes place in a channel or if it takes place in a range.