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Technical Analysis is total rubbish! Here's the proof!
- Thread starter SillyWilly
- Start date
well institutions do not see charts only because their time frame is much longer:fundamentals are valid over a much longer time frame.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...
it would be very funny if you are daytrading using fundamentals.
yes you are right about institutions but traders who do not see fundamentals and are using price action alone HAVE A VERY DIFFERENT TIME HORIZEN
i hold my trade for a few hours at the very most....why should i look at fundamentals when they will not mostly change. that is why i do not trade during data releases because that may change the fundamentals.
i hope this should make it clear
Let's make a deal. You prove that there are pure TA traders out there anywhere who make a killing. And I prove to you that 95% of all retail day traders lose money who exclusively peruse TA old or new you can choose.
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.
I can point you to probably over 500 traders in public domain who have been highly successful via non TA trading approaches.
Ok, post the +500 list.
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.
You use exactly the same logic to proof your point. So in fact you say that your own
arguments are stupid. But apparently you don't even realize that.
You are again missing the entire topic. This is not about your style. (you should open a journal if you are interested in sharing your trading approach) this is about the masses of ill informed retail punters who have never seen a living proof that pure TA works yet steadfastly pursue such futile approach because there are a few who claim it works for them. Comically not one of then has ever provided the slightest shiver of proof. Yet when someone starts HIS OWN thread to remotely question the validity of TA he is shouted down by people who never bothered to engage in a logical or mathematical argument. It's all about unsubstantiated claims.
I rest my case. I don't seem to be able to bring my point across. I hope at least newcomers who stumble across this thread will be alert and question what all those TA vendors and wannabe traders are claiming. Because so far its just that, wild claims and nothing else. Good luck to anyone who relies on past prices when the Goldmans and Bridgewaters of the world pay millions to hire top data scientists, AI experts, and economists to gain an edge. Funny those institutions still have not figured it out while some self proclaimed TA apostles apparently found the holy grail.
I rest my case. I don't seem to be able to bring my point across. I hope at least newcomers who stumble across this thread will be alert and question what all those TA vendors and wannabe traders are claiming. Because so far its just that, wild claims and nothing else. Good luck to anyone who relies on past prices when the Goldmans and Bridgewaters of the world pay millions to hire top data scientists, AI experts, and economists to gain an edge. Funny those institutions still have not figured it out while some self proclaimed TA apostles apparently found the holy grail.
well institutions do not see charts only because their time frame is much longer:fundamentals are valid over a much longer time frame.
it would be very funny if you are daytrading using fundamentals.
yes you are right about institutions but traders who do not see fundamentals and are using price action alone HAVE A VERY DIFFERENT TIME HORIZEN
i hold my trade for a few hours at the very most....why should i look at fundamentals when they will not mostly change. that is why i do not trade during data releases because that may change the fundamentals.
i hope this should make it clear
i accept individual traders are at a huge disadvantage because we do not have the information flow that the big boys have,
but the big boys cannot enter the market without casing ripples which the astute individual trader can take advantage of.
knowing that the big boys work takes hours to do and so those ripples will become waves that small traders can ride happily ever after.
this is technical analysis that i use and it is called price action--not absolute price
but the big boys cannot enter the market without casing ripples which the astute individual trader can take advantage of.
knowing that the big boys work takes hours to do and so those ripples will become waves that small traders can ride happily ever after.
this is technical analysis that i use and it is called price action--not absolute price
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
TA is not just price action. We were talking about TA, not just price action. Stick to the correct subject, don't manipulate it.
You are diverting from the topic. Someone who has nothing to show for is generally talking and that is about it. Enough said.
No he is not. You use that as a fake argument as you have no valid reply.
I invited you first to show me 5 year+ audited track records of pure TA traders who made a killing. And then I am happy to post names of traders who take a non TA approach and are long term profitable.
Ok, post the +500 list.
You use exactly the same logic to proof your point. So in fact you say that your own
arguments are stupid. But apparently you don't even realize that.
Total bollocks. None of the principal traders at hedge funds or banks are in possession of any information that you cannot acquire at reasonable prices. At least as long as they don't engage in illegal practices.
i accept individual traders are at a huge disadvantage because we do not have the information flow that the big boys have,
but the big boys cannot enter the market without casing ripples which the astute individual trader can take advantage of.
knowing that the big boys work takes hours to do and so those ripples will become waves that small traders can ride happily ever after.
this is technical analysis that i use and it is called price action--not absolute price