Technical analysis

[NoDoji]

I find that those who started on the floor or prop are arrogant but those who started retail are not.

I've had extensive communication with a few traders who were floor traders or prop traders and whose particular methods no longer provided an edge due to changing market conditions. They approached me for information about using technical analysis to trade and I shared my TA/PA knowledge with them.

All of these folks were really nice people, no arrogance.

 

[Handle123]

I've had extensive communication with a few traders who were floor traders or prop traders and whose particular methods no longer provided an edge due to changing market conditions. They approached me for information about using technical analysis to trade and I shared my TA/PA knowledge with them.

All of these folks were really nice people, no arrogance.

LOL, would you be arrogant if you needed someone else to teach you since your style no longer works? That like them having a pile of gold on deserted island and only YOU have all the fresh water. Can't drink gold.

 

[romik]

All of these folks were really nice people, no arrogance.

Because they wanted something from you.

 

[volpunter]

So that chart pattern was support or resistance? Will price go up or down? And with what probability do you reckon?

Those were the questions I asked. Seemingly simple questions. You keep on refusing to answer any of them. Or do we need to wait for another 2 days to get your hindsight analysis?

You seem to be incapable of basic comprehension, I certainly don't do what you said above. See my previous post regarding selling resistance and buying support. Not everything in life has to be coded to have validity.

 

[volpunter]

Are you for real? Dude you are evading any and every question. The BS-o-meter is constantly rising.

And some of us disregard money management, wipe out clients' capital and don't even answer the phone when they ring them. Pathetic!

 

[romik]

So that chart pattern was support or resistance? Will price go up or down? And with what probability do you reckon?

Those were the questions I asked. Seemingly simple questions. You keep on refusing to answer any of them. Or do we need to wait for another 2 days to get your hindsight analysis?

So you don't even know what is support and resistance?

 

[volpunter]

Whether someone buys or sells resistance depends on whether he/she is trading with a momentum or mean reversion bias. Are you for real?

What I do find remarkable is how a poster that worked in pro trading industry for a long time isn't aware that traders don't buy resistance, but sell it. That is truly astonishing.

 

[romik]

Are you for real? Dude you are evading any and every question. The BS-o-meter is constantly rising.

http://www.elitetrader.com/et/index.php?threads/marketsurfers-confession.293328/

 

[romik]

Whether someone buys or sells resistance depends on whether he/she is trading with a momentum or mean reversion bias. Are you for real?

Whatever tickles your fancy. When security rises I sell resistance, what you do is your business.

 

[Buy1Sell2]

But I let you in on a secret: There is a concept called momentum or more scientifically "cointegration" and it basically is a reflection of human beings reacting to new information to varying degrees and with different lags. That is precisely why you often observe price inertia in the absence of new information that adversely affect present velocity.

Guys, as I pointed out some time ago, the argument about the validity and usefulness of TA was in effect over when this posting was made on Oct 8, 2015. What the author describes here is the use and advocacy of TA and this is tantamount to an admission of the value that TA provides to the user. There is no need for any further discussion on this topic. Thank you for your time.