Technical analysis :useless junk science

oilfxpro · Sep 12, 2012

Quote from Xspurt:

Still no takers. Just guys that are smarter than me.

OK, here is how it works. Oily is looking at the 15m chart and thinks the spike is a killer when it is offering trade of the day. But you can't easily trade it off the 15m unless you have a lot of experience and I wouldn't on Oily's chart set up.

This is how to follow the money and why tight stops are possible...

Another hind sight trade after the event , but I actually traded it without technical analysis and charts.I had some sell stops I closed and went long on live with bare buttocks if it went wrong.

Until you can demonstrate live accounts , you would not know how to trade it.......as emotions are involved in taking risk.

If you traded it using charts , that would have been the worst thing a trader can do , but you would not know why........because you only trade after the event.

Xspurt · Sep 12, 2012

Quote from oilfxpro:

Another hind sight trade after the event , but I actually traded it without technical analysis and charts.I had some sell stops I closed and went long on live with bare buttocks if it went wrong.

Until you can demonstrate live accounts , you would not know how to trade it.......as emotions are involved in taking risk.

If you traded it using charts , that would have been the worst thing a trader can do , but you would not know why........because you only trade after the event.

Of course Master. I confess - you know everything and show nothing because you are the Guru, all wise and all seeing.

R. Raskolnikov · Sep 12, 2012

Good for you!! Many ways to trade. Successful TA is just but one.

Quote from oilfxpro:

but I actually traded it without technical analysis and charts.

cornix · Sep 12, 2012

Quote from marketsurfer:

None of those three things move price. TA simply illustrates what price has done. The only thing that moves price is money flows--- sentiment doesn't move price as one pissed off hedge fund manager will outweigh 1000 bullish retail investors. No wonder most traders lose money, even the most simple ideas of how the market really works are rejected for "feel good" ideas like trend etc.

You seem to underestimate cumulative effect of retail investors... Just 100,000 people buying 100 shares of AAPL each, because news show huge lines in stores, waiting for new iPhone/iPad/iCrap be released is over $6B worth of stock. Surely has effect on the market.

Situation can be even more dramatic, when people are driven by panic, cause fear is stronger emotion than greed.

cornix · Sep 12, 2012

Quote from Xspurt:

Who cares about taking measurements? Let the smart guys do their thang with their mega technology and put the money down. All I want to do is use TA to follow them as close as I can get. So I am 30 seconds out - who cares. TA shows what is happening and near enough to when it is happening.

Surf, how would you trade the 15m spike?

Exactly... If TA pattern has decent statistical probability that market continues in a given direction from the point of entry/confirmation, who cares if you are "late"... "Late" is relative term, you are never late as long as you don't buy exact top or sell exact bottom.

cornix · Sep 12, 2012

Quote from Xspurt:

Still no takers. Just guys that are smarter than me.

OK, here is how it works. Oily is looking at the 15m chart and thinks the spike is a killer when it is offering trade of the day. But you can't easily trade it off the 15m unless you have a lot of experience and I wouldn't on Oily's chart set up.

This is how to follow the money and why tight stops are possible...

As simple as 123, hehe....

cornix · Sep 12, 2012

Quote from oilfxpro:

Another hind sight trade after the event , but I actually traded it without technical analysis and charts.I had some sell stops I closed and went long on live with bare buttocks if it went wrong.

Until you can demonstrate live accounts , you would not know how to trade it.......as emotions are involved in taking risk.

If you traded it using charts , that would have been the worst thing a trader can do , but you would not know why........because you only trade after the event.

I posted at least a few consecutive weeks of trades with proof that those trades were executed on live account for quite a long time (took a break a few weeks ago for family reasons and since yesterday, because I'm starting new project and need to re-group my funds etc.).

Don't recall you showing even remotely the same, which would be nice thing to do before accusing others in not doing so.

oilfxpro · Sep 13, 2012

Quote from cornixforex:

I posted at least a few consecutive weeks of trades with proof that those trades were executed on live account for quite a long time (took a break a few weeks ago for family reasons and since yesterday, because I'm starting new project and need to re-group my funds etc.).

Don't recall you showing even remotely the same, which would be nice thing to do before accusing others in not doing so.

They ere not trades called in advance , and they were selective winning trades , after the event.

The accomplices are behaving likes a whore whose drawers come off faster , but in this case the poster changes his story quicker than the whore and in hindsight trading.In one thread he is advising opposite to catching a falling knife , but here the poster is claiming to catching a falling knife.At least sluts do not lie , they do it for cash , but here they do it like clowns giving away dumb clues.

cornix · Sep 13, 2012

Quote from oilfxpro:

They ere not trades called in advance , and they were selective winning trades , after the event.

The accomplices are behaving likes a whore whose drawers come off faster , but in this case the poster changes his story quicker than the whore and in hindsight trading.In one thread he is advising opposite to catching a falling knife , but here the poster is claiming to catching a falling knife.At least sluts do not lie , they do it for cash , but here they do it like clowns giving away dumb clues.

They are real trades confirmed by third party company (Myfxbook), which also confirmed they were taken on live account. So no "after the fact" argument valid here.

Also I post calls at Zulutrade and you know it, I will even accept you as follower so that you may finally get some profit from trading instead of your vain desperate tries to find a holy grail .

oilfxpro · Sep 13, 2012

Quote from cornixforex:

They are real trades confirmed by third party company (Myfxbook), which also confirmed they were taken on live account. So no "after the fact" argument valid here.

Also I post calls at Zulutrade and you know it, I will even accept you as follower so that you may finally get some profit from trading instead of your vain desperate tries to find a holy grail .

Everyday I come to forums looking to learn something new , and a prick turns up , so I listen to a prick everyday ,He claims to make money trading but needs noob to pay for his sandwiches.His strategy does not work most of the time.Then he claims to trade and I show him HE WOULD BE A FAILURE AT TRADING , if he traded it.So I have to show him failure of t a.