Technical analysis :useless junk science

[R. Raskolnikov]

False. My edge is based on a system that utilizes multiple time frames, with specific entry rules based on a certain alignment of bars (it's the sequence that counts!) Once I'm in a trade based on TA alone, I have specific profit tgts and a stop price that is based on the high (or low) of the bar in which created the entry.

I don't care what book writer say, they write books! I've been trading full time since the late 90's, you're not going to convince me that what I am doing doesn't work! LMAO

Quote from marketsurfer:

Another unknown alias with zero cred sprouting unverified statements of supposed fact with religious apologetic zeal

no, it doesn't. You are under a common delusion-- your edge is money management or something else IF you are succesful. Even Mark Douglas admits that the outcome of every pattern is different. IF this is correct, how can it work?

 

[marketsurfer]

Quote from R. Raskolnikov:

False. My edge is based on a system that utilizes multiple time frames, with specific entry rules based on a certain alignment of bars (it's the sequence that counts!) Once I'm in a trade based on TA alone, I have specific profit tgts and a stop price that is based on the high (or low) of the bar in which created the entry.

I don't care what book writer say, they write books! I've been trading full time since the late 90's, you're not going to convince me that what I am doing doesn't work! LMAO

Ok, i really can't argue with your personal claims---- if you have some kind of super secret way to use TA-- good for you, but I can choose not to believe it, based on the evidence I have seen. surf

 

[R. Raskolnikov]

Perfectly fine, these discussions aren't all about convincing you to believe anything rather these discussions entice others to post about their experiences and create a sort of network effect. I'm sure there are plenty of lurkers who don't post and just read. If they really want to be a short term traders, they should work towards identifying and quantifying mkt relationships. These relationships exist repeatedly, amongst the noise, and can be capitalized on consistently. Anyone who says otherwise is either jaded by their failures or hasn't worked smart enough.

Quote from marketsurfer:

Ok, i really can't argue with your personal claims---- if you have some kind of super secret way to use TA-- good for you, but I can choose not to believe it, based on the evidence I have seen. surf

 

[oilfxpro]

Quote from R. Raskolnikov:

False. My edge is based on a system that utilizes multiple time frames, with specific entry rules based on a certain alignment of bars (it's the sequence that counts!) Once I'm in a trade based on TA alone, I have specific profit tgts and a stop price that is based on the high (or low) of the bar in which created the entry.

I don't care what book writer say, they write books! I've been trading full time since the late 90's, you're not going to convince me that what I am doing doesn't work! LMAO

If it works why don't you use it to trade and make money from trading ?.The impression I get is a few scammers and con merchants starting threads on technical anylysis and price action , as bait for selling courses on t/a to noobs.

A classic example is here , these clowns don't reply when they are caught.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=249846&perpage=6&pagenumber=18

 

[bone]

Quote from marketsurfer:

Even Mark Douglas admits that the outcome of every pattern is different. IF this is correct, how can it work?

The outcome of every trade setup I have personally ever witnessed or personally executed has been different. Unfortunately, no two trades that I can recall were ever identical in terms of set-up and outcome. Wish it were that simple.

The only thing that matters is consistency - who cares if you are successful trading markets using algos or fundamentals or chart patterns or bugger flicks against a white wall ? In that respect, the previous comments regarding position management are certainly spot on.

 

[R. Raskolnikov]

I do, and have done so since 1998. I don't sell anything, I'm just an independent trader.

Quote from oilfxpro:

If it works why don't you use it to trade and make money from trading ?[/url]

 

[Sundog]

Try TA on futures spreads. If you smooth out vola,
TA could point to good entries.

Cheers

 

[peleus]

Bump please. where to we future spreads today please?

 

[kiloio]

Where you guys read about technical analysis? I'm kinda confused here been reading a lot in sites like this: http://www.forexlessons.org/technical-analysis/ , but I still think it is just basics, can you send my way some other sourced that have proven to be in use, I'm sick of wasting time to lurk around and end up with same info showed on to me everytime

 

[kut2k2]

Where you guys read about technical analysis? I'm kinda confused here been reading a lot in sites like this: http://www.forexlessons.org/technical-analysis/ , but I still think it is just basics, can you send my way some other sourced that have proven to be in use, I'm sick of wasting time to lurk around and end up with same info showed on to me everytime

http://en.m.wikipedia.org/wiki/Technical_indicator

www.jurikres.com

http://www.amazon.com/New-Trading-S...=sr_1_3?s=books&ie=UTF8&qid=1419783114&sr=1-3

http://www.amazon.com/Evidence-Base...=sr_1_7?s=books&ie=UTF8&qid=1419783114&sr=1-7