People, don't get made at me. Maybe it's not coinciding with your's, but to each his own.
Why does anyone take technical analysis seriously?
- Thread starter Sotnis
- Start date
No, because most people never get millionaire, no matter what they believe to be working. For these people nothing works because they have not what is needed to become a millionaire.
Methods of trading are tools. The way the tools are used will define the result. Idiots that are not able to use a superior system will never beat very smart people who know how to use an inferior system.
What are you driving at? I am not a supporter of a TA, but it doesn't mean I'm a bad trader. You are just contradicting yourself.
schizo here at ET seems to make it work based on his live calls for a good few years now, and there's also someone at bigmikes trading forum who seems to be consistently profitable with using charts/TA with live calls.
I admit 2 people isn't much, but it's something! lol
I admit 2 people isn't much, but it's something! lol
You have the Marketsurfer disease. Where did I say that you are a bad trader? On ET there are only very successful traders, even if they blew up they still pretend to know everything about profitable trading.
I made a general statement, never pointed at you. Bad traders with a superior system (that they cannot use properly) are always beaten by smart traders with a less performing system. That's what I said.
The fact that you ask why all TA believers are not millionaires indicates that you have a problem with correct and logical thinking. If you have such a problem it is better not to trade because logical thinking is essential for good performance.
Where is the contradiction?
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Profitable TA traders = intelligent
Unprofitable TA traders = not intelligent
Is that your final answer?
Could you please give us an example of a trader that didn't implement TA (looking at past data to help forecast potential future direction) that didn't use bad money management (overcommiting) and became a millionaire using his own capital
Just out of curiousity, what else is there for day traders (and I'm guessing most of the gawkers here are day traders) to base their trading decisions on, if not TA (eg. chart)? Unless you enter and exit blindly without considering price, even *pure* price action (ie. no indicators or patterns) can be considered TA. Fundamental analysis is completely useless to day trade. So what is left?