technicals

[jd7419]

Different strokes for different folks. But I agree with everything peizo said. You must remember at all times that price is the final arbiter. All technical indicators are derivatives of price. They lag and cannot lead. Remember that and don't let anyone tell you otherwise. Good luck in your studies of techincals but stay focused on what really matters.

 

[ProfLogic]

Quote from rcanfiel:

Support and resistance seems to have some value, and trend. But tech analysis and Elliot and Gann and Fibonacci and astrology and cycles will mostly break your heart and your bankroll

Support and Resistance is perfect when viewing them using non-variable charts (Constant Volume Bar Charts). Why, because they are fixed and real points and not calculations. Match that with a single indicator to VERIFY price oscillations knowing it lags and you have a perfect match.

Elliot, Gann, Fibonacci astrology and cycles are all variables that will not create a morsel of consistency to your trading.

Price is the PERFECT technical indicator . . . when you can read it in a non-variable environment.

 

[Anunakki]

Am I the only one who thinks this thread is spam for this inthemoney.com website ?

 

[mktmaker]

Hey I believe in the technicals. I got screwed enough listening to cramer. I hav'nt learned a thing from that show. Maybe the thread is a pump for some website but if it works and there good who cares. There are lots of good sites out there. I just want to learn. Any good learning places I'm open to them.