What's the best timeframe for using TA?

formikatrading said:
It is if you believe it is. The problem is that people try to make TA into a quantifiable science. TA is a bunch of tools. It is how you use and apply those tools.
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Cultists will say they've met jesus.
When you ask "What does he look like?" they'll come up with all sorts of abstract answers until your eyes glaze over.
 
easymon1 said:
Oh yeah.

Support Resistance trading is the idea here.
check out the link below for an idea or two.
Partial to Hammers at Support and Resistance here, the example shows how they can work, they just show Engulfing's rather than Hammers.
Hammers to me can mean shooting star, hanging man, whatever, just as long as the wick is at least 2x the length of the barrel of the candle.

What you might do before paper trading would be to look for 5 Examples of the Setup That Did NOT work, but keep track of the ones that did work by just keeping a count on a pad and paper.
So the list will look like Worked iiiiii, Not Worked iiiiii.
For the Not Worked, take Horizontal Screenshots that take the entire screen and include as many candles onscreen as will likely be useful to you while you are travelling and whatnot, just like you will use it if you like the setup.

check out this link for an idea or two.
https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-10#post-5014575
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I can do historical pivot points, so there's a lot of data for me to back test
 

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If the definition of "TA" is using past price movements to future predict price movements, then yes, TA works. Price information has predictive power in certain contexts. In my experience you need a bunch of computer power to extract this information.

If the definition is drawing a bunch of lines on a graph, I can't help you there, but I suspect that way lies madness.

Either way, anyone with a real edge isn't going to tell you what it is, especially not for free on an internet forum. That's not how this business works.
 
True - no one who has developed a REAL edge that is consistent is going to tell others what it is.

The best way to make money with TA? Program and code your own “indicator” pkg that generates up and down arrows for entries and then do some backtesting to provide “proof” to the lazy and uninformed that it works. Then sell the indicator to lazy traders (a/k/a Robinhood, stocktwits, Twitter and YouTube) who want a piece of software to make their life easy by pointing out when to buy and sell based on the up and down arrows the indicator generates and be sure to include all the usual financial disclaimers that past performance is no indication or guarantee of future results and all the other usual disclaimers all other indicators are sold with



cruisecontrol said:
If the definition of "TA" is using past price movements to future predict price movements, then yes, TA works. Price information has predictive power in certain contexts. In my experience you need a bunch of computer power to extract this information.

If the definition is drawing a bunch of lines on a graph, I can't help you there, but I suspect that way lies madness.

Either way, anyone with a real edge isn't going to tell you what it is, especially not for free on an internet forum. That's not how this business works.
More...
 
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I use TA exclusively but I think the TA that most people use isn't that valuable. People love to argue for or against TA. I generally don't care but when that TastyTrade guy says "nothing works" just because he tests some individual candlestick pattern in isolation, he's just confirming his own bias - a lot of people say TA is useless simply because they haven't figured out a way to make it work for them. Again, it's just a set of tools. Either you're able to use those tools in a useful manner or you can't. And if you can't, that's fine. Move along.
 
formikatrading said:
I use TA exclusively but I think the TA that most people use isn't that valuable. People love to argue for or against TA. I generally don't care but when that TastyTrade guy says "nothing works" just because he tests some individual candlestick pattern in isolation, he's just confirming his own bias - a lot of people say TA is useless simply because they haven't figured out a way to make it work for them. Again, it's just a set of tools. Either you're able to use those tools in a useful manner or you can't. And if you can't, that's fine. Move along.
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And how successful are you? Be honest.
 
Since we do not know what the price will be tomorrow, so we try to predict it was past data. The saying goes... the market always repeat itself. So we employ various strategies using past data to predict the future price which is what back test essentially is. With the power of modern PC, it's not difficult to test various strategy from simple to very complex ones. I look at daily charts every day and all seem random. Occasionally, I see one or two that trend... ah ha... I jump it. Sometimes, after I jumped in and the trend broke the very next day. It is just a bet after all. You win some and you lose some. Hopefully, you win more than lose. We just have to accept that the market will be the final judge.
 
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