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

[Laissez Faire]

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.

Read Market Wizards and see for yourself.

From those books you will learn that there is no one approach to trading or investing, even though there are many themes that are repeated across the different styles presented.

It is however no doubt that there are plenty of traders in that book, fund managers included, that use technical analysis to form trade decisions.

From the top of my head I remember Marty Schwartz saying how he traded poorly from fundamental analysis for ten years, but after he started using technical analysis he became successful.

As for why wedges and triangles work, it can only be because they may help the trader visualize how the price action is playing out. It`s not because it is a wedge or a triangle

If a market is trading in a range, eventually it has to break out of that range, yes?

If price breaks out of a triangle, it simply breaks out of a range. It`s not because it is a triangle

That`s my take on it.

Regards,

Laissez Faire

 

[deadbroke]

Quote from ivanbaj:

I found this on Michael Covel site.

<object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/UwH5KEbAipY?fs=1&amp;hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/UwH5KEbAipY?fs=1&amp;hl=en_US" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>

Of course you did. Barack Obama put it there.

 

[Pekelo]

Quote from retaildaytrader:

Why do you still use geometry to making gambling decissions?

Hey it is at least as good as blowing on a dice.

We just had an inverted whatever aka doubletop on the NDX, we shall see if it signaled the end of the rally...

 

[Brianharvey]

Quote from retaildaytrader:

Havent you learned your lesson yet? Why do you still use geometry to making gambleing decisions?

What do you advocate? Fundamentals?

cheers

 

[stock777]

Quote from Mr. Miyagi:

I do it everyday, have been profitable for about 7 years now,
this weeks profits come from corn(dec), short yesterday at 5.11, covered today at 4.97, +.15, at $50 per cent x 10 contracts, you do the math, I do this all the time, just takes patients and a little technical analysis, do you consider the trend line tech analysis?

another after the fact poser.
post a few realtime trades, lets see how you do

 

[deadbroke]

Quote from retaildaytrader:

Havent you learned your lesson yet? Why do you still use geometry to making gambleing decisions?

Remember this image, RDT? I don't think that anything that anyone says is ever going to convince you of anything here - you've made up your mind before the thread ever began. And if you're carrying the image's impression of the Internet and its users, then its even more so impossible.

So you see, its an impasse. You can't convince us that all internet users are shitcocks and we can't convince you that TA is useful even if you were to see docs.

So where to from here, chief? As always its fun playing YOUR game.



Uploaded with ImageShack.us

 

[deadbroke]

Quote from Mr. Miyagi:

I do it every week, for example see dec. Corn sold yesterday at 5.11, at the trend line, covered today at 4.97 + .14 cents at 50$ per cent x 10 contracts, you do the math... Ive been profitable for 7 years now, it just takes patients, and a little technical analisys, or do you consider a trend line technical analysis?

together with stock777's request, yes can you post some live trades please?

Show us how to paint the fence, please.

 

[deadbroke]

Quote from retaildaytrader:

Havent you learned your lesson yet? Why do you still use geometry to making gambleing decisions?

something I've been wanting to ask you for a while now ...

remember when you were posting all those free fishes in the stocks forum? Also remember your thread about bonds are going to crash, sell your TLT?

Can you tell us/show us what analysis you were using - especially re: the free fishes?

thanks and regards, RDT

 

[Airwaves]

Quote from deadbroke:

together with stock777's request, yes can you post some live trades please?

Show us how to paint the fence, please.

Quote from stock777:

another after the fact poser.
post a few realtime trades, lets see how you do

He does it everyday in the ES journal.

 

[Mr. Miyagi]

Quote from stock777:

another after the fact poser.
post a few realtime trades, lets see how you do

Here are the realtime trades I posted today numnutz, you will see I have done quite well, all profitable , and all based on technical analysis.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=64965&perpage=6&pagenumber=15445