Why does TA not work (for you)?

Quote from cornixforex:

What's the difference then between reading T&S (aka tape) and graphical presentation of the same trades aka chart? :)
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Pleaaaaase!!

Havent you been paying attention? Maybe you work for the SEC and have had to keep monitoring Jacks trades? :D

Because the person just looking at a chart doesnt realise the guy who created the resistance is no longer there perhaps? Maybe now hes a buyer? Maybe hes got offers stacked to sell to all the BO players who are using a chart when the see the market slice through his old resistance? Ouch!
 
Quote from TheBlackHand:

Pleaaaaase!!

Havent you been paying attention? Maybe you work for the SEC and have had to keep monitoring Jacks trades? :D

Because the person just looking at a chart doesnt realise the guy who created the resistance is no longer there perhaps? Maybe now hes a buyer? Unlucky!
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No, I do not work in SEC. :)

I just asked, what's the difference between T&S (aka tape) and chart, showing basically the same stuff (trades just happened).

Your opinion about the difference is really interesting for me, because you claim tape reading to be "real", while chart reading is not.

Can you please elaborate?
 
Quote from oilfxpro:

You can make money with an $800 dollar account at Oanda,losses and profits can be the same , with a $1m Oanda account or a $800 Oanda account.
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I never said that you couldn't.
 
Quote from cornixforex:

Guess he's speaking more of non-realistic expectations. I tend to concur about it.
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:cool:

alright this thread is worn out for me. enjoy fellas.
 
Quote from cornixforex:

No, I do not work in SEC. :)

I just asked, what's the difference between T&S (aka tape) and chart, showing basically the same stuff (trades just happened).

Your opinion about the difference is really interesting for me, because you claim tape reading to be "real", while chart reading is not.

Can you please elaborate?
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Im not personally a big fan of tape reading - but it clearly makes more sense than TA - thats obvious. Im not a fan as its not where my skills lie. Im not qualified for your request.

Perhaps you should ask Jack? He knows everything and is even monitored by the SEC he's that good.

He also stated earlier he knows everything there is to know about this business
 
Quote from TheBlackHand:

Im not personally a big fan of tape reading - but it clearly makes more sense than TA - thats obvious. Im not a fan as its not where my skills lie. Im not qualified for your request.

Perhaps you should ask Jack? He knows everything and is even monitored by the SEC he's that good.

He also stated earlier he knows everything there is to know about this business
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I probably ask Jack too, but right now it's interesting to me why you consider tape reading having more sense than chart reading, while both tape and chart basically show almost the same thing (trades, which just occurred and volume)?

No need for professional explanation, just wonder why you prefer one over another?
 
Quote from Dackster:

TA does work. It fully reflects how stupid people can be. Priceless.
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That is why I would rather sell courses on technical analysis , learn how to read past historical patterns , if it worked I would not waste time convincing the world , the expert that I think I am.
 
Quote from cornixforex:

What's the difference then between reading T&S (aka tape) and graphical presentation of the same trades aka chart? :)
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Tape reading is the book, before trades are executed-- not just T&S, therefore it focuses on what happens before the trade/move. Whereas, the chart only shows the past by definition. Is this really that difficult?

The market machinery has a vested interest in you and others believing in TA and other irrational things-- it's how the beast feeds. Where else do you think it gets it's strength? The money has to come from someplace. Same reason Forex bucket shops push TA heavily, even with free courses etc-/ because they win when you lose

Nothing can be more obvious, nothing. No wonder Wall Street is so rich and trader joes are so poor, in general.

Surf
 
Quote from marketsurfer:

Tape reading is the book, before trades are executed-- not just T&S, therefore it focuses on what happens before the trade/move. Whereas, the chart only shows the past by definition. Is this really that difficult?
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No, it is not difficult at all. I ask in stages for the purpose of clarity and to avoid misunderstanding.

Does it mean reading chart + the book is the same kind of activity as tape reading?
 
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