Technical analysis :useless junk science

[cornix]

Quote from oilfxpro:

This is for xpurt


Just to make your weekend ...........a failed ascending triangle

I see a great short TA setup here. Do you, brother Oily?

 

[cornix]

Quote from oilfxpro:

Hedged systems use the hedges often using grids and averaging up/down etc .They do not use any p/a t/a , and they just buy and sell releasing hedges as and when probabilities are in favour.

Yes, that's indeed not TA, that's BS.

I patiently waited when you finally say that "grid trading"... Popular misconception which infected probably thousands of noobs on lame amateur forex forums.

Now it's time to open your eyes, Oily, "hedging" is simple delusive rationalization in hopeless tries to avoid accepting a loss. "Hedging" a position in the same market is EXACTLY THE SAME ACTION as CLOSING it, with the only difference being you pay the double spread.

"Hedging" a position in the different forex pair is EXACTLY THE SAME as OPENING a cross pair position, with the only difference you pay the double spread AGAIN.

Until you don't understand it, you have no chance, because you don't understand what your positions in the market really are.

 

[Wide Tailz]

Quote from oilfxpro:

A rising wedge formation can be costly for t/a junkies.Here re-entry is costing pips or maybe missed trend

Absolutely perfect third wave breakout setup on that chart. Someone got paid.

 

[cornix]

Quote from Wide Tailz:

Absolutely perfect third wave breakout setup on that chart. Someone got paid.

Yea, our brother Oily is a genius. He takes great, fluid price action charts and concludes there are no working setups there, not even realizing that failure of one setup is the outstanding low risk setup by itself.

 

[Wide Tailz]

Quote from cornixforex:

I see a great short TA setup here. Do you, brother Oily?

The old parabola fade........

How do you guys do it without volume data? HR?

 

[cornix]

Quote from Wide Tailz:

The old parabola fade........

How do you guys do it without volume data? HR?

Well... we don't... there's 6E chart nearby with volume, VWAP etc.

But I've seen people do it without volume, watching price action long enough can develop the feel good enough to more or less accurately estimate corresponding volume or significance of the move at least by the speed and pace of ticks etc.

 

[Wide Tailz]

Quote from oilfxpro:

Here another rising wedge is costly.The point is t/a does not make one more profitable , looking and reading charts can often confuse traders.

You obviously mistake TA for price pattern recognition. This knowledge comes from the illustrations in common text books. Have you read the writing on the pages?

TA is patterns within patterns, confirmed by multiple time frames and cross referenced with capital flow data & the general liquidity situation across multiple marketz........

Where is the roll eyes smiley.

 

[Xspurt]

Quote from oraclewizard77:

He's not going to accept your challenged which is why the mods for this thread should send it to chit chat.

Yes it is long over due as this thread has outlived it's stupidity by some miles.

OilfxChicken, I don't have random distribution, I use TA for control. You have random distribution because you don't have a clue what you are talking about.

You're a chicken who likes to take pot shots at people but now you're in the ring you can't back up your advertising to suck the noobs in with your offer of 40,000 pips.

Make one call. I must have made over 100 on ET.

Just one call with the EA's you claim to be superior to TA and let's see how you and I fare. I'll do an immediate TA comparison and let's see how random TA is.

Back up your claims or chicken out - looks like chicken soup is on the menu.

 

[cornix]

Truth is known already, we heard the infamous "grid trading" term... Those people don't even understand their true positioning in the market, they hide their losses and failure to accept them under the "hedging" and blind averaging down... what calls can we speak about in this case.

 

[Xspurt]

Quote from Xspurt:

I understand you don't understand trading, but ok surf has these great non-TA EA's and he calls the market.

I use TA and I call the market - care to show me where I was wrong?

But more to the point, time for your squirming excues is up. You say you have EA's better than TA, then call the market.

I am confident in what I do. I stick my neck out and make the calls. Surf makes his calls. Now it is time to put up or shut up. Either you know what you are doing and have confidence in it or you are scamming.

MAKE THE CALL