Technical analysis :useless junk science

[ammo]

Quote from oilfxpro:

Most professors who teach in business schools feel that most technical analysis rules are historic , and are aids for gamblers.Gamblers need a reason to bet , and technical anylysis gives gamblers the reason.

A recent study by finance professors at Massey University in New Zealand examined more than 5,000 technical trading rules to see if they added value. The authors found "no evidence that the profits to the technical trading rules we consider are greater than those that might be expected due to random data variation."

http://www.cbsnews.com/8301-505123_162-37840656/is-technical-analysis-a-waste-of-time/?tag=mwuser

Most of you will give opinions of why t/a works , you can not provide any evidence or studies because technical anylysis can not be tested , it does not always work , all context can not be applied in testing , emotional trading failures due to t/a failure can't be tested , stress and it's negative influences of t/a can't be back tested.WTF. F O S .

Give me 50 opinion posts without evidence ,and start up 10 other threads positive about t/a , that t/a works.

95 % losers in trading probably use t/a to place bets.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=236978

they use to say charts are useless, there's a chart on every ship at the bottom of the ocean,it's a one sided argument,irresponsible to attempt to support an argument when you ignore the facts that don't support your point,you can trade with charts and win,or lose, you can trade without charts and win or lose, there are a lot more variables than two

 

[oilfxpro]

Quote from cornixforex:

Nobody's going to show you the working setups (which exist on every of your charts), so your efforts to troll something out are vain...

Even these set ups fail , so why bother?Why not just buy when prices are rising or sell when falling?

 

[cornix]

Quote from oilfxpro:

Even these set ups fail , so why bother?Why not just buy when prices are rising or sell when falling?

Good luck with "trading" like that.

But... Do you understand that buying when prices are rising and selling when prices are falling is.... yes, Gump, you're a genius! That's TA! Very primitive TA, but nevertheless. Or are you lost in the corridors of your own mind completely and hopelessly?

 

[oilfxpro]

Quote from cornixforex:

Good luck with "trading" like that.

But... Do you understand that buying when prices are rising and selling when prices are falling is.... yes, Gump, you're a genius! That's TA! Very primitive TA, but nevertheless. Or are you lost in the corridors of your own mind completely and hopelessly?

I can give you a list of every known t/a set for free from the internet , let us end your delusion ...that you have something.

When prices are rising , there is more demand .......................and when falling less demand.Add in confusion and delusion with t/a and lose all your money.

 

[cornix]

Quote from oilfxpro:

I can give you a list of every known t/a set for free from the internet , let us end your delusion ...that you have something.

When prices are rising , there is more demand .......................and when falling less demand.Add in confusion and delusion with t/a and lose all your money.

What makes you think that if setups don't work for YOU, the problem is the setups and not YOU?

I use very common setups successfully, I make consistent profits every month, having no problems with TA "not working" at all... How do you think why is that?

 

[oilfxpro]

Quote from cornixforex:

What makes you think that if setups don't work for YOU, the problem is the setups and not YOU?

I use very common setups successfully, I make consistent profits every month, having no problems with TA "not working" at all... How do you think why is that?

2 dumb blonds make more pips than you every week , by as much as 400 % more ,without using set ups .They follow simple hedging rules .

Does that give any value to t/a?

 

[cornix]

Quote from oilfxpro:

2 dumb blonds make more pips than you every week , by as much as 400 % more ,without using set ups .They follow simple hedging rules .

Does that give any value to t/a?

Would be cool if:

1) Those blondes weren't only your erotic fantasy.

2) That "hedging" crap would be something more than primitive averaging down, which works and makes tons of pips... until it doesn't anymore and we have another epic blow up.

I on the other side, make consistent 10+ times more every month than I risk per trade and am very happy with it. Because it's real business, real profit, real risk management with low drawdowns etc.

And you are free to either keep dreaming or get real finally...

 

[oilfxpro]

Quote from cornixforex:

Would be cool if:

1) Those blondes weren't only your erotic fantasy.

2) That "hedging" crap would be something more than primitive averaging down, which works and makes tons of pips... until it doesn't anymore and we have another epic blow up.

I on the other side, make consistent 10+ times more every month than I risk per trade and am very happy with it. Because it's real business, real profit, real risk management with low drawdowns etc.

And you are free to either keep dreaming or get real finally...

The blondes are risking no more than you, and they are more consistent , more profitable than you ........................and they makes pips from both sides of the market with their hedged trades......that makes them smarter and more intelligent about probabilities.

 

[cornix]

Quote from oilfxpro:

The blondes are risking no more than you, and they are more consistent , more profitable than you ........................and they makes pips from both sides of the market with their hedged trades......that makes them smarter.

Yes, Oily, that's truly great... Just don't dream too much, do something in the real world too...

 

[oilfxpro]

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

xpurt

Make your call at least 1 hour in advance , I gave 12 hours.