What are some good example of a move where TA has failed?

[SimpleMeLike]

hi - I have explained my method in many posts.

- fundamentals - valuation across asset classes
- sentiments - forexIG, AAII
- price action - W and V bottoms

you can make money, but need to look at the entire picture.... you are sitting at a poker table, you need to consider every flop, every bet, every 'tell'.

there is no money to be made just by looking at charts.... if there were any profitable pattern, thousands if not millions of traders and robots will beat you there and take that pattern away in no time.

this is a race of intelligence, logical thinking, the ability to read other people's cards.... just like usually the same guys show up at the final table on the World Poker Tour.

dozu888,

Well, out of respect. If I look at the charts, price action, every news article, and fundamental, I would go crazy trying to make trade lol. I rather just look at the charts and forget the news articale and fundamentals. I trade crude oil, and I never read anything on crude oil. nothing. its tooooo much information for the brain.

 

[padutrader]

otherwise experts like Al Brooks would have made millions.

Al has taken a great deal of trouble to re invent the wheel.

but there can be no doubt that he loves [his] technical analysis and his trading:

but are trying to insinuate that Al did not make millions?

Technical analysis in it's purest form has not changed for decades or centuries...and it may be described in a few lines or within a page.

 

[padutrader]

dozu888,

Well, out of respect. If I look at the charts, price action, every news article, and fundamental, I would go crazy trying to make trade lol. I rather just look at the charts and forget the news articale and fundamentals. I trade crude oil, and I never read anything on crude oil. nothing. its tooooo much information for the brain.

it depends on your time frame....if you holding for years then it is different from when you are intraday trading

 

[speedo]

To paraphrase my question, I would ask what charts show the TA is bullshit.

That I can answer...none exist.

 

[padutrader]

That I can answer...none exist.

i agree.....only bull shit technical analysts exists.

and i love that answer

 

[Handle123]

Those who downgrade charts or for that matter any form of TA are the same who most likely only believe in funnymentals, and we all know the written word is all truth when it comes to stats on companies financial reporting.

If people spent few years testing extremes of charting, tops/bottoms, getting good quantity of sample sizes, finding perhaps patterns that are not written about or formed their own patterns, they could make a buck on them on more consistent basis.

There is the other flip of the coin, those who complain the most of not working might actually believe they do work and quietly trade them. They enjoy people getting upset on ways they trade.

 

[digitalnomad]

I’d rather just look at the charts and forget the news

You can get away with discounting the news information itself, as you’ll never get it faster, but you better pay close attention to the release times/dates, to even stand a chance as a daytrader.

 

[padutrader]

dozu888,

Well, out of respect. If I look at the charts, price action, every news article, and fundamental, I would go crazy trying to make trade lol. I rather just look at the charts and forget the news articale and fundamentals. I trade crude oil, and I never read anything on crude oil. nothing. its tooooo much information for the brain.

also technical analysis can over ride fundamentals for some or long time.....see the tech boom or any boom for that matter

and ultimately it is price-technical analysis- that gives a trader his profit

 

[speedo]

You can get away with discounting the news information itself, as you’ll never get it faster, but you better pay close attention to the release times/dates, to even stand a chance as a daytrader.

 

[Handle123]

Here are two. one win and one loss

1. The Red arrow, I lost money on this trade. I thought the double top would cause a price drop. Failed

2. The Green arrow, I won money on this trade. The breakout lead to a price rise. Pass.



View attachment 200908

Although Bulkowski states Ascending Tri-angles work better going to down-side, I would have bought where red arrow was drawn as am sure TL would have been there and risk much smaller waiting for the bounce, you could have hedged buying Puts, then taking loss on stocks and keeping the Put for recover gains and more profit if it dropped further. "V" tops(teepee top) and bottoms often make for outstanding areas to buy, and often make failed secondary bottom(can be H&S pattern) to buy again, same with tops of selling short.