Why does TA not work (for you)?

JP, you sound like an earnest guy so I'll be succinct and direct meaning no offense--

Our computers can test patterns and strategies in a day than can be tested in a lifetime of trading. There is no edge in multiple time analysis. It's simply confusing the issue. You trade in the here and now, not on a past timeline. TA folks believe the market is fractal -- if so, then why would multiple time lines of the past matter? It's all a fractal anyway.

The tests have been completed and pattern traditional TA has failed.

Surf
 
I traded a breakout of a triangle only to realise it was in fact a rectangle that was yet to complete. When the rectangle broke out, that too failed, because it was in fact in the process of forming a head and shoulders pattern. When that break out failed, it was realised what in fact was happening, was the h&s pattern was really a larger cup with handle forming. When that breakout failed, I realised TA is really just in the eye of the beholder.

I thought I'd give it one last try and I drew a trend line on my chart. I adjusted the width setting of my chart and all of a sudden that line didnt make much sense any more.... Then there was a breakdown of that trendline, so here was my chance - only to realise my mistake was drawing the trend line to soon. The trend was still intact, I just had to ajust the angle slightly and it all made sense.

Yet to make any money on all these false breakouts!


:p
 
Quote from marketsurfer:

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TA folks believe the market is fractal -- if so, then why would multiple time lines of the past matter? It's all a fractal anyway.

Surf
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Insert detailed reply here :D
 
Quote from TheBlackHand:

I traded a breakout of a triangle only to realise it was in fact a rectangle that was yet to complete. When the rectangle broke out, that too failed, because it was in fact in the process of forming a head and shoulders pattern. When that break out failed, it was realised what in fact was happening, was the h&s pattern was really a larger cup with handle forming. When that breakout failed, I realised TA is really just in the eye of the beholder.

I thought I'd give it one last try and I drew a trend line on my chart. I adjusted the width setting of my chart and all of a sudden that line didnt make much sense any more.... Then there was a breakdown of that trendline, so here was my chance - only to realise my mistake was drawing the trend line to soon. The trend was still intact, I just had to ajust the angle slightly and it all made sense.

Yet to make any money on all these false breakouts!


:p
More...

If only I could get a moron , a clueless fuckin idiot to buy my course , it would be worth it .............even if 10 people proved it did not have any benefit.

That one fuckin idiot who buys this course on t/a will make it worth our while.
 
Quote from athlonmank8:

lol.......You and Freak are blind.

Stop talking. Start listening. Xspurt's reply is KEY to what you're wondering.
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Common sense is lacking here or this an associate selling courses on technical analysis?

Technical analysis has been there for donkey's years and the donkeys still lose 95 % of the time.If t/a worked solely without all the other skills , t/a would be the holy grail .

So prick (Prigg) wrote books on it and Turtle failed on tests , like xperts would fail.

http://en.wikipedia.org/wiki/Richard_Dennis

Dennis managed pools of capital for others in the markets for a while, but withdrew from such management in the spring of 1988 after his clients suffered heavy losses. In the Black Monday stock market crash of 1987, he reportedly lost $10 million,[8] with a total of $50 million reportedly lost in 1987-88.[2] In 1990 his firm settled investor complaints of his failure to follow his own rules, for over $2.5 million, without admitting or denying any wrongdoing.[9] He also managed funds for some time in the mid and late 1990s, closing these operations after losses in the summer of 2000

Listen you fuckin pricks , put yours trousers on!
 
Just a comment on the "fractal" nature of markets. Humans find comfort in familiarity, order and predictability which is why so much of the trading and approaches we see here on ET are garbage. Traders who consistently lose try to find that way to pull meaning out of presumptive chaos. Adopting a fractal analysis and trying to apply rules that are found in nature seems like a plausible approach, but it is flawed.

I sometimes refer to the market as being fractal in nature for lack of a better word. What I really mean is that the market morphs just like waves on an oscilloscope. Small amplitude short frequency action may evolve into a longer frequency higher amplitude period. That is why those "indicators" do not work the way most beginners use them, at least not for long. That perfect crossover or overbought "signal" slowly skews as the market morphs. It skews until it has no meaning to the actual behavior of price. Beginner traders (less than 5 years) will often spend many hours backtesting any number of combination before this fact becomes clear to them, if it ever does.

Nice day for a movie.
 
Xspurt, No Doji, TA'ers

Perhaps a discussion of why TA works would be an interesting topic - self fulfilling prophecies, big institutional players, zero sum supply/demand

I am referring to the lines we draw on charts any which way. If it's a topic for another thread, that's cool.
 
Quote from Xspurt:

There is a constant supply of threads that either show confusion about how to use TA or state emphatically ...

1) TA doesn't work...
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Brother X, personally I'm glad there's people who don't think TA works.
Really...Think about it...Aren't you?
 
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