Technical analysis :useless junk science

Quote from oilfxpro:

Why should lagging data and information produce future profits and provide an edge?
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Of course they do, because saying otherwise you'd be implying markets were fully efficient. In that case any type of non-indexed investing and trading would be an exercise in futility.
 
THREE TECHNICAL INDICATORS WORKING IN UNISON:

YESTERDAY:


STOCK DAY TRADING RECORD

QUE:49 stocks

TRADING TIME 9:30 to 11:30

DATE BUY SHORT
WINRATE WINRATE
8-31 100% 94%

SYMB BUY SHORT
ADBE w
AEP w
AET
ASML w
AU f1
BA w
BAX w
BHI
BP w
CAT w
COP
D w w
DTV w
EMR w
ETN w
EWY w
EWZ
FAS w
GDX w
HES w
HON w
ITW w
IWM w
JNJ
MOS
NEM w
NSC w
NUE
NVS w
PCAR w
POT w
PRU
QCOM w
QLD w
SNDK
SO w
SSO w
STT w
TGT
TNA w
TRV
UNH
UPRO w
UPS
WLT w
XLE w
XOP w
XRT w w
YUM w
 
Quote from oilfxpro:

It is not possible to reverse engineer a system that works consistently , simply because a great system would be so complex and have so many variables .Just as an I example , I had 44 automated sub systems (something you would class as a system) working together to make up a single system.Even after putting together 44 systems , the results were meagre 15 % a year , and t/a systems performed the worst .
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Lol, the old it has to be complicated to be good theory....
 
I don't see systems being reverse engineered correctly. The possibilities are so broad that the human mind is going to take something very simple and make it 50x more complicated.

That's simply an opinion though.
 
Quote from d08:

The geniuses involved in finance would be able to do it with very little effort and possibly without having any initial idea about the structure.
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How about theses geniuses not using historical t/a . and devising profitable systems based on future price action?.The price action behaviour of markets repeats itself , over and over again , supply and demand repeats itself over and over again. so geniuses must be able to devise systems based solely on price behaviour in the future.

Historic T/a is for xpurts and losers who hang around forums.Futuristic p/a systems are for profitable traders , and they do not need historical p/a .
 
Quote from oilfxpro:

How about theses geniuses not using historical t/a . and devising profitable systems based on future price action?.The price action behaviour of markets repeats itself , over and over again , supply and demand repeats itself over and over again. so geniuses must be able to devise systems based solely on price behaviour in the future.

Historic T/a is for xpurts and losers who hang around forums.Futuristic p/a systems are for profitable traders , and they do not need historical p/a .
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TA by definition means using historical data. How can you know if something works without testing it? Would they just start trading without any idea if it works, they sit down without ever interacting with historical data and magically are profitable?
I guess I'm just a profitable loser who hangs out in the forums then, I'm fine with that.
 
Quote from d08:

TA by definition means using historical data. How can you know if something works without testing it? Would they just start trading without any idea if it works, they sit down without ever interacting with historical data and magically are profitable?
I guess I'm just a profitable loser who hangs out in the forums then, I'm fine with that.
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Backtesting is useful for devising a system , but any automated system which uses historic t/a is less likely to be profitable , compared to a futuristic system based on future p/a.

Example:futuristic system if price falls , sell on a retracement (stochatic will have fallen and 4 hour will be moving down) .Historic system :price has fallen , stochastic is x crossover , DAILY/4 hour bars are down .....this is all relying on past information and often too late to be profitable.
 
Quote from oilfxpro:

Backtesting is useful for devising a system , but any automated system which uses historic t/a is less likely to be profitable , compared to a futuristic system based on future p/a.

Example:futuristic system if price falls , sell on a retracement (stochatic will have fallen and 4 hour will be moving down) .Historic system :price has fallen , stochastic is x crossover , DAILY/4 hour bars are down .....this is all relying on past information and often too late to be profitable.
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Both are relying on past data to determine entry in your example. Just because the the "technical analysis" has been used and abused by snake oil salesmen does not mean it doesn't work.
You can call it "Megawave Futuristic Price Action Hypertrading", that's just another interpretation of the same old detested TA.
 
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