Why does anyone take technical analysis seriously?

marketsurfer · Sep 30, 2015

Mtrader said:
If I see something that does not "work" for me, I ask myself the question: "is it really not working or am I too stupid to understand it?"
But on ET there are some posters who know that they are so smart they understand everything in trading. That behavior is the ultimate proof of stupidity and also of arrogance. They never heard about being humble. Probably too much problems with their ego.

PS: this is the 1001's thread about TA. In a short time "trendfollowing" will start again too. Why? Because human behavior is predictable and repeats itself over and over again. Just like in TA.

Your not trading against "humans" with 90% plus of all volume coming from machines. These machines game each other, rendering the behavior argument mute among other reasons.

In addition, the majority of academic studies prove chart ta is doomed to fail. Not to mention most traders if they are truthful.

surf

speedo · Sep 30, 2015

marketsurfer said:
Your not trading against "humans" with 90% plus of all volume coming from machines. These machines game each other, rendering the behavior argument mute among other reasons. surf

The word is moot and while volatility has increased, trading remains much the same. If you spent as much time studying price action as posting nonsense, you might conceivably know this.

marketsurfer · Sep 30, 2015

speedo said:
The word is moot and while volatility has increased, trading remains much the same. If you spent as much time studying price action as posting nonsense, you might conceivably know this.

Wrong and if u really extracted profits over the long term, you would understand. But thanks for the speelin lesson.

Mike Okistini · Sep 30, 2015

If you use TA to make money on analyzing charts, great. If you think it is useless, then do not use it. Discussions to convince 3rd parties of your beliefs are started by people with noting better to do and probably do not trade because it is a useless and time wasting discussion. I do not need to debate or convince you of anything because I am not trading your account and you are not managing mine.

CASE CLOSED.

speedo · Sep 30, 2015

marketsurfer said:
Wrong and if u really extracted profits over the long term, you would understand. But thanks for the speelin lesson.

I don't know if 16 years qualifies as "long term" but it works for me.

marketsurfer · Sep 30, 2015

speedo said:
I don't know if 16 years qualifies as "long term" but it works for me.

It does in this game. Regardless of our different ideas, respect!

surf

Eddiemorra · Sep 30, 2015

I've never been able to make it work after 5 years of full time trying, but I still think it probably IS possible.

marketsurfer · Sep 30, 2015

Eddiemorra said:
I've never been able to make it work after 5 years of full time trying, but I still think it probably IS possible.

With effective money management -- random entries based on your market bias -- its possible to make a killing.

speedo · Sep 30, 2015

Eddiemorra said:
I've never been able to make it work after 5 years of full time trying, but I still think it probably IS possible.

Eddie, I didn't make any money in my first 5 years and the first two were brutal. I do not know anyone who trades for a living who has not paid some serious dues.

dartmus · Sep 30, 2015

speedo said:
The word is moot and while volatility has increased, trading remains much the same. If you spent as much time studying price action as posting nonsense, you might conceivably know this.

Mute is a good substitute for someone unable to exercise the restraint necessary to remain present and execute the correct form of "your" when he certainly knows that rule well but is unable to access the portion of his life which is orderly and composed. The portion capable of discerning the it's machines not humans argument is "mute" because it doesn't fit the context and storyline of the post he quoted.