The moment after price trades it's in the past. It's just in the very recent past. A lot of these discussions appear to be about semantics. That's just how I see it anyways.
The VERY best trader on ET that uses TA
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The moment after price trades it's in the past. It's just in the very recent past. A lot of these discussions appear to be about semantics. That's just how I see it anyways.
Quote from kinggyppo:
"technical analysis is the study of market action, primarily through the use of charts, for the purpose of forecasting future trends"
John Murphy, Technical Analysis of the Financial Markets (1999)
Surf should have a field day with that one....
ROFL.
Same thing. You just admitted "PA" traders are watching price change, thereby also meaning the history (even if it only does include the last tick). The "fancy technical tools" are nothing more than price after a few calculations 90% of the time.
If I multiply the price by 2, does it automatically become TA instead of PA?
Dr. Niederhoffer introduced me to Dr. Lo back in 2005--- his young child at the time was playing a grandmaster in chess and holding his own---- he is a bright light but his papers are often misinterpreted. surf
I must contradict as I have used TA all my life in trading to include charts. If you using charts, YOU "wants a graphical presentation of what price did in the past (last month, last night) and take some comfort from that visual, ", otherwise why use them at all? And how did you learn to do the methods you do if you didn't use charts in the past to confirm your methods work?
But when you get right down to it is just semanics, we ALL predict what the trade will do unless you are trying to intentionally lose money. So whether price gets down to support to buy or price gets down to EMA to buy, it is an idea that makes sense thru backtesting.
I know one acquitance that never uses charts/TA, only fundamentals, reads ten hours a day the financials of companies, debt ratios, sales, net income, dividends etc...And when it comes down to it, even that could be called TA as it is an approach of making comparisons.
But really, does any of this matter?
No it does not, and all of these debates are not very productive.