The Foresight Thread
- Thread starter dbphoenix
- Start date
The primitives have continued to preach the ancient methods. Just like some guys hunt deer with rocks and sharpened sticks, some traders insist on using primitive analysis techniques for making decisions. If they actually make money doing this, more power to them, but handicapping yourself in today's world is an exercise only the wealthy can afford. god bless them!! surf
Almost all car accidents involve people driving cars with steering wheels in them. Sadly, no one seems willing to offer me information about cars without them.
Train cars don't have any steering wheels... and they get into lots of accidents, especially the ones that seem to carry oil, or perhaps its only those that make it on the news.Almost all car accidents involve people driving cars with steering wheels in them. Sadly, no one seems willing to offer me information about cars without them.
All kidding aside, I too would love to see what these guys who bash charts use. Granted, many years ago, when it was only about tape reading, if you wanted a chart, you had to draw your own, so a continuous stream of prices was how trading was done. But what these guys talk about who say charts are useless I don't are using just T&S, so I'm not exactly sure what is left.
I suppose insider trading is considered trading without charts and that can be quite lucrative.
...All kidding aside, I too would love to see what these guys who bash charts use. Granted, many years ago, when it was only about tape reading, if you wanted a chart, you had to draw your own, so a continuous stream of prices was how trading was done. But what these guys talk about who say charts are useless I don't are using just T&S, so I'm not exactly sure what is left.
I suppose insider trading is considered trading without charts and that can be quite lucrative.
I know three well known active members here at ET (I won't mention their names) that have consistently bashed the use of charts. Yet, they themselves admit they use charts but only for illustration purposes only. Thus, they don't use charts for trade decisions even though I have caught them elsewhere at other online locations outside of ET discussing their technical analysis via charts.
The games folks play here.
Personally, anyone that uses a chart for any reason what so ever...should not be bashing the use of charts.
With that said, traders that don't use charts for trade decisions (I'm not talking about investors)...they are using DOM, Bid/Ask, Time & Sales and Order Flow Analysis as well documented on Youtube. Yet, oddly they too say they only use charts for illustration purposes only but not for trade decisions.
This reminds me of the journal where the ET member posted live videos of his trading via the DOM and you can see his chart on the left side in the monitor. Someone asked him if he only uses DOM...why is there a chart there. His reply was..."I don't use it".
That also reminds me of someone that states they are a "price action only" trader. Someone asked him what's up with the indicators on the chart. His reply..."I don't use them".
The games folks play here.
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What's really interesting is that I've never seen anyone demonstrate the consistently profitable use of the above in real time. Many of us who use charts have posted many real time trades here and/or called trades in real time in a trading chat room and have explained in detail how the charts are used to make those trade decisions.
Why can't the DOM, Time & Sales, Order Flow, Ass Trumpet Tonal Spectrum Analysis, etc. traders demonstrate how their trading methods are used to produce consistent profits.
Better yet, if the 5% profitable traders who use these methods instead of charts and indicators are the only ones making money, why aren't they all trillionaires with their mystical "can't-lose" methods?
Got to be honest - not sure what this is..., but I jus hass to gits me one
ebay here I come
RN
That is without doubt the best trading system name I have ever come across.