Why does anyone take technical analysis seriously?

[Eddiemorra]

What platform is this? Is it from a live account, or is it impossible to tell?

 

[NoVoodooHere]

I was at starbucks this morning. There was a conference table full of excited MLM'rs ready to set the world on fire selling some coffee product--- it was sad their zeal since it was obviously a scam--- just like these poor souls who cling to TA despite overwhelmingly negative evidence. Some even believe the claims of the anonymous posters-- who are afraid to even reveal their real names---

you and me both; once upon a time I was a scambaiter... Death to HLF

(I would have said something to those mugus)

 

[speedo]

Everything is crystal clear in hindsight. and the past generally repeats itself -- that's why those cute chart pattern names exists.

There's generally 'more than meets the eye' in trading.
that's why these debates are kind of endless.

I've said it many times before: the Markets are Part art, Part science. no two days or situations or scenarios or people...are really ever alike or the same.

You are correct, charts do not print exactly alike...but they rhyme. The art is the ability to read verse. I will very occasionally visit one of these forums for a laugh. Telling a professional technical trader that TA does't work is like telling an astronomer that there is no moon.

 

[marketsurfer]

you and me both; once upon a time I was a scambaiter... Death to HLF

(I would have said something to those mugus)

I have a little "personal" knowledge about scam baiting also. That's one reason i can see right through this bandwagon TA effect on elite.

 

[Mtrader]

It depends on your definition of TA.

And also from your intelligence or lack of intelligence, to understand TA.

 

[Mtrader]

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.

 

[heavenskrow]

I get mocked by my professors in finance, but the one professor that did trade never mocked me.

 

[wartrace]

what do you suggest for intraday trading? Just 'reading' the ladder/Dom/orderbook?
cheers

Yep. My theory is that TA may work but the shorter your timeframe becomes the less useful it is.

 

[speedo]

Yep. My theory is that TA may work but the shorter your timeframe becomes the less useful it is.

It works on all timeframes but the lower you go, the more squirrely the price action. Scalping is a tough way to go.

 

[kut2k2]

You are correct, charts do not print exactly alike...but they rhyme. The art is the ability to read verse. I will very occasionally visit one of these forums for a laugh. Telling a professional technical trader that TA does't work is like telling an astronomer that there is no moon.

Excellent analogy. Surf is like a person who lives in a strange land where the sky is always cloudy whenever the moon is in the sky, so he's never seen the moon. Consequently he doesn't believe in the moon. But he is also ignorant of lunar tides, which is evidence of the moon even when it's hidden by clouds.