The authors of "The Bible of Technical Analysis" and review of the "Bible".
- Thread starter GloriaBrown
- Start date
Nope, this is not your IQ that makes you a rich trader.
If that was the case, LTCM's genitors would be billionaire.
There is a big difference between theory and practice.
For example, everyone knows you must buy low and sell high (theory), majority does the opposite (practice).
Why? Because you must show no emotions, be disciplined but as the same time be flexible and opportunist.
That explains why professors and theoreticians are not exactly the perfect profiles to make money ! (Except Jim Simmons of course).
CM
LTCM made a lot of money just they made a mistake in risk management. Did bible author higher school teacher or TA articles writer even made good amouny of money from market or even believe in their TA to invest a lot? No. Did these two people made some good money because of TA book copy right? Yes.
"Just". Funny. "Just" USD 5 billions loss and "just" a leverage of USD1200 billions.
Ok, if they earned USD 1 000 000 with their book, that would be a good result. We are not talking about Nassim Taleb or Thomas Piketty. Be serious.
Ok, some writers :
Stan Weinstein
Marty Schwarz
Larry Williams
Marcel Link
Mark Minervini
Vic Sperandeo
ETC.
All these guys made fortunes thanks to TA and not by selling their books.
CM
I dont know about other but I dont think Larry Williams is a graphical TA trader. Anyone can detect indicator kind of TA so no need to argue about that. Graphical TA is what the bible talks about.
You mean Chartism ?
Chartism is part of Technical Analysis. You can use only TA indicators for example (RSI, MACD) without chartism.
Chartism is about graphical patterns, and yes it works. Peter Brandt made a fortune only with chartism. http://www.peterlbrandt.com/
All other authors i quoted use some chartisms tools, at least trend lines, support / resistance, trading range and moving average.
CM
Amigo, I can prove that it does work (in my case), can you prove that it doesn't work at all and is a "fraud"? You can not win this one.
It's the absence of overall money management that is the cause, not TA itself.
Great point. Surf and GB are too ignorant to realize that even with successful TA, bad money management will often result in system failure. Trading is a complicated machine: it only works when all the parts work and in sync. Blaming TA for every trading system failure is silly. My own money management research has indicated how easy it is to overbet. Leverage is dangerous and rarely justified. Blowing up accounts is easy, no matter how good an edge you may have.
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I gotta meet you one of these days Prado---.
You are hell bent on discrediting me, seriously gonzo hate vibing-- i don't get it.
All you have are a typo, aliases from years ago when i tried to launch a competing site, and rumors about some lawsuit after 13 years and 1000's of posts.
You really don't know any of the facts--
You must be an angry investor who we lost money for or an agent of my ex--- Nothing else makes sense.
I agree that money management is the real key absent a true edge.
With that said, i hav nothing against subjective TA -- it's objective mechanical TA that doesn't work. If you can intuitively profit from TA, i cant argue with that
However, you can't show me an objective TA system based on fixed rules that works any better than random.
surf