Technical analysis :useless junk science

Xspurt · Sep 30, 2012

Quote from oilfxpro:

What is wrong with you?Have you blown your accounts using t/a?

http://online.wsj.com/article/SB125996714714577317.html

I only saw one of your calls , and it was correct .

Allow me to explain how life works Chicken. When you say TA is junk etc.... that's you opinion and your business - I have no problem with that and you're entitled to your knock your brains out posting your experience. We can have a bit of banter on that one.

But when you say I'm a liar, my TA doesn't work, my stops are not real, I can't mentor, I can't trade, I'm ignorant about set ups, I'm scamming people, all my calls are hindsight and you go on and on and you will prove how ignorant I am about TA... it's now my business coz' you crossed the line and made it personal.

Meanwhile you offer a Martingale that you say is 100% successful, the exact same one that Nick Leeson used to bankrupt Barings Bank. Instead of stopping out, sooner or later you MUST hit a trend and when that happens, whoever you scam into that idea loses every cent they will own in the next 100 years. Your gambling link is very appropriate because some people have committed suicide as a direct result of using that one.

When you scam noobs into a 40,000 pip EA that has zero chance of working you are not Mr. Nice guy, you are offering false hopes to noobs that will get shipwrecked financially.

You make all these grand claims about having something much better than TA and how TA is worthless, so now it is time to teach me my lesson and demonstrate how ignorant I am, how clueless I am about trading, and how superior your methods are.

Step up to the plate and make a call with your entry, stop and where it is going and I'll immediately do the same and we'll see who is the ignorant one. You offered to teach me a lesson on TA - well now I'm about to give you one on TA.

You said you chose your handle was because you were a Master and Guru in trading - well now it's time to square up to the Xspurt and do what surf has done - MAKE THE CALL. (Not that surf and I were squaring up to each other).

I can't wait for you to show me how ignorant I am and what a Guru you are. By the way you didn't read far if you only saw one correct call

MAKE THE CALL OILFXCHICKEN

oilfxpro · Sep 30, 2012

Quote from Xspurt:

MAKE THE CALL OILFXCHICKEN

I am going to make this guess to please you .Monday's trades in advance.

Buy Euro usd at 1.2950 ,stop 1.2910 , target 1.2990.

Majr support at 1.2930

Or buy at 1.2930 stop 1.2890 target 1.2970

or sell short at 1.2890 ,target 1.2850 stop 1.930

I will also give you a hedged trade

On monday open /sunday night Buy euro/usd ,sell gbp /usd and sell egbp , stop 60 target on each 40. It is slightly more complicated than that.This is a simple version , but there is more advanced scalping involved.STOP HAS TO BE NET 20 PIPS FROM CLOSING FIRST POSITION

cornix · Sep 30, 2012

Quote from oilfxpro:

Hedges are removed when probabilities are in favor , this was mentioned earlier.You failed to read it. Go read it again , important things like stops are also mentioned , when hedge is removed stop is put in place.So you have a naked position with a stop after hedge is removed.

It is not as simple.

Do you understand that there is no difference between "hedge" and a stop-loss, except that you pay the double spread using the "hedge"?

cornix · Sep 30, 2012

Quote from oilfxpro:

Think why hft is successful and how they use sector hedging trades , think how a broker makes 3* the spread on e/gbp /gbp/usd and euro/usd..................They don't use t/a.

95% of traders get their ass handed to them , using an unreliable science /art which fails regularly , in a negative sum game after spreads and costs.

Brokers make the market, it is absolutely different game. You cannot make the forex market, that's why hedging for you is just a delusion used to deny the hard fact of cutting the loss.

Get rid of it, you don't need that crap to trade successfully.

95% of traders fail because they don't have the traits needed to succeed, exactly as 95% newbie enterpreneurs fail in nearly every field, exactly as 95% of those who try to lose weight fail to achieve the consistent effect. It's not about the methodology, it's about the personality traits.

oilfxpro · Sep 30, 2012

Quote from cornixforex:

Do you understand that there is no difference between "hedge" and a stop-loss, except that you pay the double spread using the "hedge"?

Of course I know the difference.

There are 3 trades done in one bullet , you don't have to know the outcome of the next single trade to make money.

Some guy made almost equivalent of 6,000 % doing it in mql championship.

http://championship.mql4.com/2008/users

cornix · Sep 30, 2012

Quote from oilfxpro:

I am going to make this guess to please you .Monday's trades in advance.

Buy Euro usd at 1.2950 ,stop 1.2910 , target 1.2990.

Majr support at 1.2930

Or buy at 1.2930 stop 1.2890 target 1.2970

or sell short at 1.2890 ,target 1.2850 stop 1.930

I will also give you a hedged trade

On monday open /sunday night Buy euro/usd ,sell gbp /usd and sell egbp , stop 60 target on each 40. It is slightly more complicated than that.This is a simple version , but there is more advanced scalping involved.STOP HAS TO BE NET 20 PIPS FROM CLOSING FIRST POSITION

LOL... Do you realize that buying EURUSD, selling GBPUSD and EURGBP in the same amount is simply no position, except that in this case you paid the spread 3 times to have in effect zero market exposure?

cornix · Sep 30, 2012

Quote from oilfxpro:

Of course I know the difference.

There are 3 trades done in one bullet , you don't have to know the outcome of the next single trade to make money.

Some guy made almost equivalent of 6,000 % doing it in mql championship.

http://championship.mql4.com/2008/users

That's plain and simple BS, delusion. Whoever trades this way, enters outright directional trades (with or without stop-losses is irrelevant here) and uses basic timing (most likely TA based, I noticed you mentioned "major support" recently, ayayay

), just is in denial about it, probably cause it's easier psychologically to think you "hedge" than think that you cut the loss, despite exactly the same effect takes place.

oilfxpro · Sep 30, 2012

Quote from cornixforex:

LOL... Do you realize that buying EURUSD, selling GBPUSD and EURGBP in the same amount is simply no position, except that in this case you paid the spread 3 times to have in effect zero market exposure?

Daft as it may seem, it is beyond your level to know about probabilities with your $100 Oanda account.

There are automated programs doing it with serious money in the direct market.

That way you can trade with 3 gamblers in one shot.

oilfxpro · Sep 30, 2012

Quote from cornixforex:

That's plain and simple BS, delusion. Whoever trades this way, enters outright directional trades (with or without stop-losses is irrelevant here) and uses basic timing (most likely TA based, I noticed you mentioned "major support" recently, ayayay ), just is in denial about it, probably cause it's easier psychologically to think you "hedge" than think that you cut the loss, despite exactly the same effect takes place.

Correction

robability trades.

cornix · Sep 30, 2012

Quote from oilfxpro:

Daft as it may seem, it is beyond your level to know about probabilities with your $100 Oanda account.

There are automated programs doing it with serious money in the direct market.

Ask atticus what this position is equal to if you don't trust me and are unable to calculate the net exposure of it yourself. But his answer will probably be much more rude.

And please don't tell me the stories about how serious money does triangular arb plays. You have no way to replicate it, just like you can't replicate HFT, so stop dreaming about what you can't do and better concentrate on what is realistic.