Why do you believe in such things as wedges, triangles and inverted whatevers...

[outsource]

Because mama has told me about them long ago. I always believe what mama says.

 

[retaildaytrader]

I have never seen a successful trader use technical analysis. Maybe my experience is too limited, therefore, I challenge you to name ONE trader, money manager, etc. who uses technical analysis and is profitable. Name just ONE.

 

[rzepe5]

Quote from retaildaytrader:

I have never seen a successful trader use technical analysis. Maybe my experience is too limited, therefore, I challenge you to name ONE trader, money manager, etc. who uses technical analysis and is profitable. Name just ONE.

Q: Technical analysis

Paul Tudor Jones: Made well over half the money that I've made in my lifetime.

Q: Fundamental Analysis

Paul Tudor Jones: Made the rest.

Q: Are you better at one or the other?

Paul Tudor Jones: Probably technical analysis.


This guy is a total nobody.

 

[unco]

Quote from retaildaytrader:

I have never seen a successful trader use technical analysis. Maybe my experience is too limited, therefore, I challenge you to name ONE trader, money manager, etc. who uses technical analysis and is profitable. Name just ONE.

Toby Crabel

he wrote
http://www.amazon.com/Trading-Short-Patterns-Opening-Breakout/dp/0934380171

And that's his funds
http://www.autumngold.com/Advisor/Statistics/cta_profile.php?id=113231
http://www.autumngold.com/Advisor/Statistics/cta_profile.php?id=113230

Obviously to achieve that he certainly didn't spend his time on ET writing 100 posts a month...

 

[Scataphagos]

Traders understanding of the implications of "price patterns" is usually deficient... which is why you hear comments like the ones from the OP.

 

[KMAX]

Another mindless thread.
I was going to say Jones but RZ beat me to it.

 

[Chicago_CTA]

Quote from retaildaytrader:

I have never seen a successful trader use technical analysis. Maybe my experience is too limited, therefore, I challenge you to name ONE trader, money manager, etc. who uses technical analysis and is profitable. Name just ONE.

"Standard" technical analysis is horse sh*t. Moving averages, oscillators, fibo numbers, elliot's wave and ichimuchu's cloud aren't worth a single donkey tail.

OP, do I believe in straight lines? IE support, resistance, former highs, lows, trendlines, etc.?

If you're asking this question it's obvious what your level of trading experience is.

Good luck getting an answer straighter than this.

 

[WhiteOut56]

Quote from retaildaytrader:

I have never seen a successful trader use technical analysis. Maybe my experience is too limited, therefore, I challenge you to name ONE trader, money manager, etc. who uses technical analysis and is profitable. Name just ONE.

Same here. No one makes $ using technical analysis

 

[Pekelo]

Quote from retaildaytrader:

I have never seen a successful trader use technical analysis.

I have never seen a black swan or a white gorilla. So they don't exist. Oh wait, wrong analogy....

 

[Scataphagos]

Quote from Pekelo:

I have never seen a black swan or a white gorilla. So they don't exist. Oh wait, wrong analogy....

Seems several ETers are outing themselves... perhaps they should limit their posts to politics, religion and porn.