Technical analysis

[Jzwu2017]

In trading nothing works 100%. There are so many variables so that no single factor, e.g. an indicator, or technique, e.g., TA will make one a profitable trader.

Let’s say you have a strong edge on TA that works 80% of the time, which is a very high probability. If you don’t control your position size/risk well during the other 20%, you will lose back all the previous winnings. In addition, the market changes every day/week/month/year so your edge will change for better or worse as well. Everything in trading is a moving target and that makes trading so hard and fascinating at the same time.

That’s why becoming a consistent profitable trader is so difficult, not that we don’t have winning trades. Many traders have a 50%+ win rate but are still net losers.

Therefore, the answer to OP’s question is all TA courses are both good (work sometimes) and bad (don’t work sometimes). With that said it definitely helps to learn TA nonetheless.

 

[deaddog]

In a tutorial quite a while back Linda Bradford Raschke suggested spending a week just watching the markets. Write the price down every 5 minutes. See if you don't develope a sense of where the market is trending.

 

[SimpleMeLike]

In a tutorial quite a while back Linda Bradford Raschke suggested spending a week just watching the markets. Write the price down every 5 minutes. See if you don't develope a sense of where the market is trending.

Hello deaddog,

I agree with this.

 

[Tall Mike]

Hey guys, what are some criteria for a good TA course?

I think before you look into a TA course, I think you need to ask the question

what evidence is there that TA has predictive power?
How do I know?
How can I be sure?

I think that is a better starting question.

Not saying it does or doesn't work, but it's something to think about.

 

[Tall Mike]

In a tutorial quite a while back Linda Bradford Raschke suggested spending a week just watching the markets. Write the price down every 5 minutes. See if you don't develope a sense of where the market is trending.

I think this is a bit silly.

How do you actually know what a "sense" is? How do you quantify it to ensure you are not just thinking there is something there that is not?

Can we objectively beforehand define what a "sense" is?

 

[Scataphagos]

EVERYONE knows Technical Analysis already yet Nobody makes money trading Technical Analysis that I know of.

Well, you SHOULD be (making money with TA)... I've given you the keys to the city and you've what, done nothing with it?

 

[Scataphagos]

EVERYONE knows Technical Analysis

Actually not. Many "believe" they know TA, but they really don't. That's why so many believe "TA doesn't work". In fact... TA WORKS LIKE A SON-OF-A-BITCH... right in front of their eyes yet they can't seem to get a handle on it.

So lemme give it to you again...

"Buy Support
Sell Resistance
Chase breakouts
Trade with stops".

If you're not doing that, your chances of success are slim.

 

[deaddog]

I think this is a bit silly.

How do you actually know what a "sense" is? How do you quantify it to ensure you are not just thinking there is something there that is not?

Can we objectively beforehand define what a "sense" is?

To be different you gotta do different.
Try it before you dismiss it as silly.
Make sense? LOL

 

[GlobalMacro90]

I’d say getting your CMT would be a good idea if you want TA training

 

[M.W.]

Almost as valuable as investing 4 years in college to obtain a BA in social justice.

I’d say getting your CMT would be a good idea if you want TA training