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

[jnbadger]

Quote from luckyluciano:

I don't recall saying that. And off topic I might add.

It's in your post, for Christ's sake. It doesn't matter if you recall it or not.

 

[jnbadger]

I thought it was funny, so i quoted it. No negativity intended.

 

[Duref Mudgins]

Quote from jnbadger:

why would baron want an averaging down type of a message board

If x% lose, the 100-x% want to know where to advertise to find idiots.

 

[jnbadger]

Quote from Duref Mudgins:



If x% lose, the 100-x% want to know where to advertise to find idiots.

Unfortunately I know exactly what you mean.

 

[cornix]

Quote from oilfxpro:

Your success is not based on t/a but on your own ability, because if everybody could not make profit from it , then it is not t/a.

What's your definition of TA?

 

[cornix]

Quote from oilfxpro:

Absence of big participants and low volume.

This is 6E during Bernanke speech in July (see attachment)... You mean it, when saying this action is purely retail traders in absence of big participants and low volume?

 

[cornix]

So is anybody finally going to oppose my example of Vic Sperandeo as a successful trader claiming he uses TA to enter/exit trades and gauge risk and say he was just fooling himself (which would be especially hilarious hence he spent so much time in his life studying psychological side of trading and success in general)?

 

[Xspurt]

Quote from Duref Mudgins:

If x% lose, the 100-x% want to know where to advertise to find idiots.

That is an ET Hall of Fame post

 

[tobbe]

Quote from cornixforex:

So is anybody finally going to oppose my example of Vic Sperandeo as a successful trader claiming he uses TA to enter/exit trades and gauge risk and say he was just fooling himself (which would be especially hilarious hence he spent so much time in his life studying psychological side of trading and success in general)?

He's not the only public figure who's had great success with TA. Remember Martin Schwartz ("Pit Bull" book)?

"A full-time independent trader who relies on technical analysis, Schwartz has won the U.S. Trading Championship--run by a professor at Stanford University--a number of times, often amassing more earnings than all other contestants combined."

The "winning a contest" part is not what is interesting, his long and profitable career as a TA daytrader is.

Funny book, too. Well worth reading.

Quote from the book: "After nine years as a securities analyst, I decided to make a complete transition from fundamental analysis to technical analysis, the study of price and volume independent on the underlying economic data."

 

[wrbtrader]

Quote from oilfxpro:

Your success is not based on t/a but on your own ability, because if everybody could not make profit from it , then it is not t/a.

Quote from cornixforex:

What's your definition of TA?

I'm fairly confident that oilfxpro is saying the same thing I've been saying in the other thread and here at ET for many years. I'll explain via editing the above quote by oilfpro and then including my own commentary to bring his observations in correlation with my observation.

Your success is not based on t/a alone (all by itself) but on your own ability and teamwork of your trading plan, because if everybody could not make profit from it , then it is not t/a...its you and your trading plan.

The above is why those against "profitable trading via TA" will say that TA is not science but is art. I respond via saying I don't care if TA is science or art...

It's just one tool out of many tools in a profitable trader's trading plan that determines that TA is useful. Nothing more, nothing less.