Technical analysis :useless junk science

Quote from cornixforex:

Known by whom? :)

Optimal stops are integral part of the winning system. Change stop from 6 ticks to 60 ticks for a certain day trading setup and you'll get a very ugly equity curve if it stays any profitable at all.

That means your trading is crap!There is no edge ...just a shitty little scammy method!
 
Quote from oilfxpro:

That means your trading is crap!There is no edge ...just a shitty little scammy method!

LOL... Crap or not is defined by only one thing: consistently profitable or not. :)

Hence was my question: do you understand probabilities? You've just answered it in a way. :D

Now seriously once again: any profitable method includes risk management component. Throw it away and you easily turn good method into trash. You better understand it, it's very important.

You once again expose being infected with a false belief: good trading signal DOES NOT mean it always works. Not at all. It only means that it makes profit on average given it's traded with certain parameters, depending on the market, it's volatility et cetera...

To become profitable, you, brother Oily, should stop looking for perfection, such doesn't exist in the real world. Look for real edges instead, which lie in the area of seemingly "small" nuances.

No such thing as "small" nuance in trading, seemingly negligible mistake or a tweak can make a difference.

You have to admit it and do the real serious work to construct a working trading method... Or drop it, some people simply have personality traits which are not compatible with this business, nothing to be ashamed of here, we're all different.
 
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

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Technical analysis provides no edge, and trading is a negative sum game after spreads.Those who use t/a on its own may end up as losers after paying the spread and costs of trading.
 
Quote from oilfxpro:

Technical analysis provides no edge, and trading is a negative sum game after spreads.Those who use t/a on its own may end up as losers after paying the spread and costs of trading.

So you are throwing in the towel and ultimately giving up, brother Oily?
 
Quote from cornixforex:

So you are throwing in the towel and ultimately giving up, brother Oily?

No .When you start a tug of rope , you never let go of the ropeJjust using a technical analysis based method which is more robust , and accommodates failure of technical analysis.
 
Quote from oilfxpro:

No .When you start a tug of rope , you never let go of the ropeJjust using a technical analysis based method which is more robust , and accommodates failure of technical analysis.

Do you realize that you just wrote two contradicting statements in the same sensence? :)

Do you understand that failure of any TA setup = TA setup? :)
 
Quote from Xspurt:

It's a long answer Oily... but this thread is all part of it.

You have to accept the failure and weaknesses of technical analysis , only then will you be on caviar ...as opposed to noobscaviar.
 
Quote from oilfxpro:

You have to accept the failure and weaknesses of technical analysis , only then will you be on caviar ...as opposed to noobscaviar.

What kind of analysis would you use then, if not technical analysis?
 
Quote from oilfxpro:

You have to accept the failure and weaknesses of technical analysis , only then will you be on caviar ...as opposed to noobscaviar.

Coming from someone who claimed to be hiring trading assistants, then three months later showing interest in being hired as one.......
 
Quote from Wide Tailz:

Coming from someone who claimed to be hiring trading assistants, then three months later showing interest in being hired as one.......

Oily is seeking for his true self. That is a noble goal, but also a path full of stones. :)
 
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