Why does TA not work (for you)?

Quote from frenchfry:

Jack, is there a discrepancy in what you wrote?

First you say you went short on bar 67 and then some minutes later you write:

...today bars 65, 66, 67, 68 and 69 did not matter today. No events were contained in them....

If bar 67 didn't matter, why did you went short on that bar?
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thanks.

I read the chart numbers wrongly. the series is 71 through 75. (a lateral).

i did go short on 67.
 
Quote from marketsurfer:

From 1987??!

Man, the markets have changed radically since those days.

How many are in the newest market wizards?

surf
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So I guess guys like Tudor Jones, Schwartz, Kovner, Marcus, etc don't count?
Makes sense....why would anyone listen to some of the best traders in the history of trading. The same guys who influenced some of the traders in the next 3 market wizards books.

You are on quite a roll Surf.
 
Quote from ocean5:

Weren`t it M1 and M2 from the bar 5 to 13?
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No.

we were discussing clean page 4.

you may hve noticed I mentioned clear page four.

Basically, as pointed out to you by others, you are quite mixed up.

Read marketsurfer to see how getting mixed up can be permanent.
 
Quote from jack hershey:

you requested where the chuckles occurred and why.

P1. ..... Key levels is a myth.

yada yada yada
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So, if key levels are a myth, then surely that kind of suggests TA is a myth given support/resistance are considered key levels, and of course form the capstone of trend lines, channels and other such rubbish.

No idea about your code re 'bar 78' etc. I guess this is because you dont want the SEC to know what your up to.

Clearly you are the best trader that ever walked the planet. Strange how such a high performer spends all his time on an internet forum trying to convince the anonymous. I'm starting to question why I bother coming here - and clearly I am not as skilled as you pretend to be.

Good luck with the SEC.

May I respectfully suggest you wear a foil hat? That way they will not know what your thinking - given you're clearly a genius and all.
 
Quote from marketsurfer:

You are likely very skilled at trade management, cutting losses, letting winners run, etc. Take your charts away and you will have the same, or better results as you will not be working with illusions.

OR

You are a gifted intuitive with skills that can not be quantified--- they are very rare, but do exist..

OR

Both

Im not going to argue with your success, keep doing what you are doing and more POWER to you!

surf


PS. several of my best friends are Technical Analysts-- so I certainly don't hate the practioners-- just believe its the wrong road as it can't be quantified and there is so much against it....
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I kind of lean towards agreeing with what you've said.
The traders I've seen that are successful by watching charts
seem to be very skilled at what you stated above. I think most
of the patterns & other stuff result in a 50/50 chance overall.
I'm not even sure how you would say if a pattern worked or not?
How far does price have to run & for how long to say it worked?

I do think the charts & TA or price action can help a trader though
with entries, & get their P/L in the green at least for a very short time.

It's not too hard to find points on a chart with a high probability of
at least a tiny bounce in price.

But after the entry is when the skilled trader will smoke a non-skilled
trader. I remember seeing some of NoDoji's trades & we would have
the exact same entries on trades that didn't work out.

The difference was she would somehow know to get out breakeven
or even up a couple ticks whereas I would take multiple losses. When
she finally caught a nice move she'd be up for the day, and I'd be lucky
to get back to even.

So anyway if charts are the wrong path what is the correct path?
What should I be watching & concentrating on?
 
Quote from jack hershey:

Coding charts properly turns the display into an event display.

Knowing the OOE's of such created charts and their interfractal interlocking nature guarrantees you can extract the full offer of the market.

Charts serve as a bridge from the data stream to the mechanism for taking the full offr of the market.

the mechanism is a system. the system is a management system. What is managed is a database and what is created from the data base are the designated elements in the OOE's

Elements come from weeding out the significant data from the data that does not matter.

for me, the elements are all precisely defined mathematically. I call them events since that is what they are. significant events one and all.

the simple easy way to do this is to take commercially available simplistic charts and just overlay them with events (use the space available to do this). Today bars 65, 66, 67, 68 and 69 did not matter today. No events were contained in them.

Taleb and Soros do not know this. You do not know this.

There are five interwoven OOE's in taking the full offer of the market. You will never see them. They are on my charts.

Read the attachment river requested of me. You will not understand any of it.

Think of how I traded before there were charts. Think of how I traded after there were charts.

I traded before the copier was invented.

I traded before the PC was invented.

What you think you are talking about is very narrow in its scope and you do not know that because you are so ignorant. You are very very funny to read.

I'm very funny to read for different reasons. It is very funny to read a skilled and knowledgeable trader. You can't even understand it and you can't even see the market's offer.

Change your alias this one is done for you.
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LOL. You are a giggle!

My my. You are truly THE exceptional trader of all time. I admit this. You cant be equalled.

I'm sorry if I seem to have hit a nerve re your tax bill earlier. I was only teasing. I was hoping you'd be a bigger person than this - given youre the best trader the world has ever seen and all.

Now, back to the business at hand.....

So with your fancy database that tells you NOTHING but what has happened IN THE PAST, how on earth is this going to tell you that GSAM are about to dump 10,000 lots on the market RIGHT NOW?

Im sure you have some genius explanation that tells you when and where they will behave before they even know - but thats why you're such value. Even if you are part of the furniture round here.

Be lucky



:)
 
Quote from marketsurfer:

Bingo!

If you look at the trappings of success--- I have never seen a chartist who lives well from trading with charts-- although I know many succesful traders with great lifestyles who do not believe in or use TA for trading decisions---

Obviously folks who made their money elsewhere and play in the market with charts are exempt...

even the great PTJ was WAY OFF with his chart reading as witnessed in the 87 crash-- his charts were over a year off..
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Indeed. But you forgot Mr Hershey bar!

He drives a Mclaren F1 car you know - and he uses charts - I mean a database.

Good to see there are some round here who have experience outside the retail community.

:)
 
Quote from frenchfry:

Jack, is there a discrepancy in what you wrote?

First you say you went short on bar 67 and then some minutes later you write:

...today bars 65, 66, 67, 68 and 69 did not matter today. No events were contained in them....

If bar 67 didn't matter, why did you went short on that bar?
More...

Dear Mr Chip.

The answer is obvious is it not? He wanted to fool the SEC who he has just declared on a not so anonymous internet - follow each and every trade of his!!
 
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