technical analysis quote from Top Trader book

[wxytrader]

It was clear dozzzzens of posts ago.

Right? How can anyone dispute that I called it? I literally said home Depot would miss, and I gave the reason why I thought it would miss. Just look at my post prior to the earnings.

What are we even arguing about now?

 

[kroxobor]

In the book 'Market Wizards: Interviews with Top Traders', the chapter on Bruce Kovner has an interesting passage that reads:


I do both TA and fundamental analysis and thought it was interesting to compare TA to a doctor taking a patient's vitals before making any further assessment of their current health.

Technical analysis requires intuition and it comes with experience. Knowing price patterns is not enough you should watch many times which price action it entailed. Same as in coding or language study. After you write 10000 lines of code or see how words appear in different sentence you start to understand its true meaning or application. In my view this is the key thing.

 

[TradeBlazer]

Everything is in the charts, so we should become multi-billionaires. Just read the charts. It's all there and predictable.

 

[deaddog]

Right? How can anyone dispute that I called it? I literally said home Depot would miss, and I gave the reason why I thought it would miss. Just look at my post prior to the earnings.

What are we even arguing about now?

Is this where you said HD would miss?

I might be leaning towards a home depot miss as I had more time to analyze. I would assume that renos have declined with the increase in the price of materials so it would make sense. Also, it could still be a valid C&H if it dropped to 5 as it completed the handle.

"Might be leaning towards" is kind of an uncertain way of making a call. Lots of wiggle room to take credit or deny. And of course you didn't have enough confidence in your call to put any money on the line. Another opportunity missed.

 

[wxytrader]

Is this where you said HD would miss?

"Might be leaning towards" is kind of an uncertain way of making a call. Lots of wiggle room to take credit or deny. And of course you didn't have enough confidence in your call to put any money on the line. Another opportunity missed.

Lol there's no money to be made in earnings unless you're selling high IV. I said my position would be accumulation no matter what the result. However I had no interest in trading the stock...I just proved that I could predict the earnings result by simple TA...oh and I also predicted the reason for the miss being higher prices for DIY materials.

So all in all I nailed it with barely any effort.

 

[murray t turtle]

That's a very fair assessment, but both approached to analysis work a lot better in conjunction, I don't know why a lot of people seem to be resisting that fact.

%%
MOST likely its a note that technical$ how ever helpful they can be + are / can exceed / ;
+ overshoot fundamentals, sometimes like ENRON, rhymes with con

 

[MACD]

I believe there is something better in the ES markets.

Please inform what that "something" ? Thanks

 

[MACD]

requires intuition

Yes -- Your words for this post are gratefully understood.

 

[SimpleMeLike]

Please inform what that "something" ? Thanks

Good Evening MACD,

I just do not believe TA or PA is the answer to getting rich in the ES futures market.

This is just my opinion and observation.

TA and PA is good for conversation, that is it, damn sure not for getting rich quickly as a ES futures trader.

 

[wxytrader]

Lol there's no money to be made in earnings unless you're selling high IV. I said my position would be accumulation no matter what the result. However I had no interest in trading the stock...I just proved that I could predict the earnings result by simple TA...oh and I also predicted the reason for the miss being higher prices for DIY materials.

So all in all I nailed it with barely any effort.

Lol roaring kitty knows what I'm talking about!

Start watching at 3:15 - 3:45