Technical analysis :useless junk science
- Thread starter oilfxpro
- Start date
Let me sell you a course on guns and weaponary!Then let me hold a gun at your head and u use your knowledge , and I pull the trigger at your brain.Guess the outcome when I pull the trigger.
This is how useful t/a is , because you won't know if the the gun is loaded or not , and with how many bullets.
There is random distribution of profits and losses.
Before ya read the following, make sure you are not eating or drinking as I won't be held responsible for messin up your puter....
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Jack_Larkin
Registered: Jun 2011
Posts: 333
09-28-12 10:25 PM
Quote from oilfxpro:
Many traders use Junk science called technical anylysis.
This is another reason traders lose money , they bet on historic outcomes.
http://www.elitetrader.com/vb/showt...threadid=248499
Ok, I can't help it, this one is too easy to point out:
You've run a few journals on strategies based around TA, like your first one here:
http://www.elitetrader.com/vb/showt...threadid=110342
Even a few threads and posts talking about automated trading that was coded around TA.
Ok.. ok... most of that was a few years ago, but you did recently (2012 recently) want to hire a trading assistant who you'd teach to execute on patterns and technical analysis:
http://www.elitetrader.com/vb/showt...threadid=110342
You were going to have them trade your capital and even cover their losses, that's how confident you were in TA.
So now you're against TA and think it's part of why traders fail?
Little hard to believe such a successful trader would do a complete reversal of opinion (even going so far as to preach about it to others) after so many years of positive results by TA.
Edit: Just pickin' on ya ;P The legitimacy of TA is always an interesting topic
http://www.elitetrader.com/vb/showthread.php?s=&postid=3639936#post3639936
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One of the funniest posts on ET. Will need the weekend to decide if Oily's TA examples or Oily's swings from a believer to a non-believer are the funnier.
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Jack_Larkin
Registered: Jun 2011
Posts: 333
09-28-12 10:25 PM
Quote from oilfxpro:
Many traders use Junk science called technical anylysis.
This is another reason traders lose money , they bet on historic outcomes.
http://www.elitetrader.com/vb/showt...threadid=248499
Ok, I can't help it, this one is too easy to point out:
You've run a few journals on strategies based around TA, like your first one here:
http://www.elitetrader.com/vb/showt...threadid=110342
Even a few threads and posts talking about automated trading that was coded around TA.
Ok.. ok... most of that was a few years ago, but you did recently (2012 recently) want to hire a trading assistant who you'd teach to execute on patterns and technical analysis:
http://www.elitetrader.com/vb/showt...threadid=110342
You were going to have them trade your capital and even cover their losses, that's how confident you were in TA.
So now you're against TA and think it's part of why traders fail?
Little hard to believe such a successful trader would do a complete reversal of opinion (even going so far as to preach about it to others) after so many years of positive results by TA.
Edit: Just pickin' on ya ;P The legitimacy of TA is always an interesting topic
http://www.elitetrader.com/vb/showthread.php?s=&postid=3639936#post3639936
=======================================================
One of the funniest posts on ET. Will need the weekend to decide if Oily's TA examples or Oily's swings from a believer to a non-believer are the funnier.
Quote from Xspurt:
Before ya read the following, make sure you are not eating or drinking as I won't be held responsible for messin up your puter....
=======================================================
Jack_Larkin
Registered: Jun 2011
Posts: 333
09-28-12 10:25 PM
Quote from oilfxpro:
Many traders use Junk science called technical anylysis.
This is another reason traders lose money , they bet on historic outcomes.
http://www.elitetrader.com/vb/showt...threadid=248499
Ok, I can't help it, this one is too easy to point out:
You've run a few journals on strategies based around TA, like your first one here:
http://www.elitetrader.com/vb/showt...threadid=110342
Even a few threads and posts talking about automated trading that was coded around TA.
Ok.. ok... most of that was a few years ago, but you did recently (2012 recently) want to hire a trading assistant who you'd teach to execute on patterns and technical analysis:
http://www.elitetrader.com/vb/showt...threadid=110342
You were going to have them trade your capital and even cover their losses, that's how confident you were in TA.
So now you're against TA and think it's part of why traders fail?
Little hard to believe such a successful trader would do a complete reversal of opinion (even going so far as to preach about it to others) after so many years of positive results by TA.
Edit: Just pickin' on ya ;P The legitimacy of TA is always an interesting topic
http://www.elitetrader.com/vb/showthread.php?s=&postid=3639936#post3639936
=======================================================
One of the funniest posts on ET. Will need the weekend to decide if Oily's TA examples or Oily's swings from a believer to a non-believer are the funnier.
Hey Oily, give us another laugh and call the market with your EA's heehee haahaa hoohoo
First I need to buy books written by failed traders ,buy some courses on t/a , get a mentor , blow my account after reading with some of what these trading failures wrote.
Prick wrote 500 pages of shit crap .....
http://www.amazon.com/Technical-Analysis-Explained-Successful-Investment/dp/0071381937
I will try a better mentor and pay $200 per hour , he is a succesful trader /writer.
http://www.marcellink.com/
Then I will make a call.......of random distribution of profits ...no losses.
If you were serious about learning TA it would be quite some time before you'd make a call. You already have those fantastic EA's. Click the mouse and and wave your magic 40,000 pip wand and give us one of those calls.
Stay away from TA as you've been there and we have all seen what happened
Quote from Xspurt:
If you were serious about learning TA it would be quite some time before you'd make a call. You already have those fantastic EA's. Click the mouse and and wave your magic 40,000 pip wand and give us one of those calls.
Stay away from TA as you've been there and we have all seen what happened
80 % of trends fail , 95 % of traders fail.
http://www.elitetrader.com/vb/showthread.php?threadid=236978
Quote from cornixforex:
Despite you seem to draw trendlines and levels nearly randomly, there are some great trades on your charts... The reason you missed them is not in the TA, it's between your ears.
Quote from cornixforex:
True... But what's even more amazing, it may turn out all 5 make money.
Is this hypocrisy?Are you deluded about 5 different ways of drawing trend lines?