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
Hey Surf,
You've been asked in the past many times to give an example of what you consider to be an "objective TA system based on fixed rules" but you never do.
Is it possible for you to do it now ?
As I stated before, I bet if folks new what part of TA you're talking about, you wouldn't have as many debates. For example, I remember many years ago it took you a few years to admit you yourself used TA and found it to be "useful". Later (a few years), you started saying for "descriptive or illustration purposes only".
You also stated that you didn't know anybody that used TA successfully in
any way. Yet, one day you posted brokerage statements of your friend
Timothy Sykes to prove to several ET members that he was a profitable trader.
Upon research, I discover that Timothy Sykes had several online videos where he discusses he uses TA and
not for descriptive or illustration purposes only". He uses them to time his entry with other methods (e.g. fundamentals) he's using and the below quotes are his words.
Technical analysis can be a great asset for traders who get how it works and understand what it shows and means. It is incredibly different from Fundamental Analysis and can be crucial for pennystocker, particularly on breakouts.
The above is his own words. It doesn't sound like he's using TA for illustration purposes only. There's many other statements by him about "how" he uses TA and about how its "a key" to his profits.
Using stock charts, analysts and investors can gauge the recent and historical prices of a stock. This is used in order to make predictions on future price movements.
Note: I underlined and bold the word by Sykes to put more emphasis on something that's not for illustration because it seems like he's talking about making predictions of the futures price action.
As a reminder, you defended him in many arguments here at ET about his profitability. You have posted his brokerage statements as proof (verification) of his profitability.
Do you realize how this looks. Essentially, you have been posting proof that you know someone that is profitable and that person uses TA regardless if he's using it with other types of trade methods. Yet, you do not mention anything about his use of TA except once to me in a conversation in which you specifically stated "he's using TA with other methods and TA may be useful that way".
Getting back to my original question, I will assume Mr. Sykes isn't using an "objective TA system based on fixed rules" considering if he did...you wouldn't be posting his brokerage statements to verify his profitability.
Once again, what exactly is a objective TA system based on fixed rules ?
It makes me think you simply meant to say an automated trading system based on TA or a mechanical trading system based on TA (e.g. MACD, RSI).
You see surf, the above is a lot different than just showing up in threads and saying "TA doesn't work" or "TA is a fraud" just to start debates and then later start your typical routine of posting clarifications about what you really meant to say. Heck, you once told me in a reply that you "meant to say TA with indicators" is what you meant to say that it "does not work".
Conclusion, the following is a list of TA that you do not have problems with and have posted brokerage statements of traders you know are profitable.
1) Subjective TA
2) TA used with other trade methods (e.g. fundamentals)
3) TA without indicators
P.S. You once called "subjective TA" voodoo or on the level of astrology. Its hard to keep up with what you "meant".
