the politically incorrect truth why TA can't work (for you)

Quote from Xspurt:

Only one guy has posted a chart example in almost 300 pages and that is the outspoken Oilfxpro and he is both for and against TA, depending on the thread and his TA is at beginner stage - enough said?

(Oily that is not to knock you. Credit due for posting as you were the only one with balls to do it. Ask others where your level of TA is at if you don't like my opinion.) [/B]
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I posted a chart and a call of a perfect trend.

Here it is again.

http://stockcharts.com/h-sc/ui?s=ITP.TO&p=D&yr=1&mn=0&dy=0&id=p72976256668&a=271611601
 
Here is another where I entered on a breakout at around $59.10.

http://stockcharts.com/h-sc/ui?s=PCYC&p=D&yr=0&mn=3&dy=0&id=p59462657555&a=274635918

Is this not a breakout? With a 5% gain a a few short days? After a pullback? Cup and handle formation? After profit taking? After consolidation?

Yeah right, TA is not real! What a joke this topic is! It's being used by millions all over the world everyday. Of course, the 95% rule applies to everything in life even in TA. 95% fail. If it doesn't work for you it's because you are one of the 95% as far as TA is concerned.
 
Quote from cornixforex:

Did anyone claim TA "works" in a sense of guaranteed profit in every TA based trade?
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Thats a fair point, but it also demonstrates the futility of TA.

RCG Trader points out that it depends on where one draws the trend line. This to me, implies TA is an art. Probably why there is so much debate on the matter.

So, if one cant define a trendline with certainty, how can one claim it to really be there, yet alone 'work'?

This also implies that we may both view the same market, yet draw our magic lines at very different places and have very different interpretations. We may both win, both lose, or one win and the other lose. What ever the result, 'TA' wasnt the reason for that result. It was our individual, yet quite different interpretations of the same thing and our reaction to them.

This is why TA is really, quite useless.
 
Quote from luckyluciano:

I know. Its just Know it all trollers like smurf and oily get under my skin!
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If t/a gave you an edge and made money , there would be hundreds of auto pilots trading software using t/a, with big money in it .UNFORTUNATELY THIS IS NOT THE CASE .


T/a is a revolving road map , it does not tell you when the road map is going to change ,how long will your road continue will for and how suddenly it is going to change.It is junk science!

It also shows dubious results for the same set ups -1.0.+1.
 
Quote from oilfxpro:

Most professional traders and big money stay out of markets when the muppet masters sing.
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Think so? So that's purely retail pikers who cause huge spikes on huge volume in world's top markets when Ben Bernanke speaks? :D



I just follow the price , because that tells me where demand/supply is .
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Good. :)
 
Quote from TheBlackHand:

Thats a fair point, but it also demonstrates the futility of TA.

RCG Trader points out that it depends on where one draws the trend line. This to me, implies TA is an art. Probably why there is so much debate on the matter.

So, if one cant define a trendline with certainty, how can one claim it to really be there, yet alone 'work'?

This also implies that we may both view the same market, yet draw our magic lines at very different places and have very different interpretations. We may both win, both lose, or one win and the other lose. What ever the result, 'TA' wasnt the reason for that result. It was our individual, yet quite different interpretations of the same thing and our reaction to them.

This is why TA is really, quite useless.
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My definition of useless is something that really cannot be used to improve trader's results. But if TA patterns, subjective or not, doesn't matter, help some traders to spot good trades better, can it be called useless? Maybe, but not objectively useless. :)
 
Quote from TheBlackHand:

Thats a fair point, but it also demonstrates the futility of TA.

RCG Trader points out that it depends on where one draws the trend line. This to me, implies TA is an art. Probably why there is so much debate on the matter.

So, if one cant define a trendline with certainty, how can one claim it to really be there, yet alone 'work'?

This also implies that we may both view the same market, yet draw our magic lines at very different places and have very different interpretations. We may both win, both lose, or one win and the other lose. What ever the result, 'TA' wasnt the reason for that result. It was our individual, yet quite different interpretations of the same thing and our reaction to them.

This is why TA is really, quite useless.
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Wouldn't it be more logical to say that level of TA is quite useless because instead of having a raison d'etre for line placement you use magic feelings.

If TA is a form of magic rather than logical rule based set ups then of course it will skew your lines and you will draw strange conclusions like this.
 
X,

I’m curious

(while fully acknowledging this may be way off base here)

================================

I read once;

A necessary skill for successfully trading from a chart is – The ability to easily move from rule based – to vision based



Rule based = what we can see – fixed in the context we’ve built

Vision based = where we can see price’s next potential move in our minds eye – beyond the hard right edge/ our context


Not sure if this is some of what you’re referring to


Also;

Let's never overlook the simple ability to read the mkt/ the participants/ their actions - and at times - their intended actions


Anyway, if the above is not pertinent - my Apologies Sir

==================================

btw;

That ballerina – spins either way for me – at will - no matter where I look (meaning no trickery involved)

Suppose that means I’m half nuts…, and 100% crazy

RN
 
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