Why does TA not work (for you)?
- Thread starter Xspurt
- Start date
You have to read surf properly.
trading by using the book is not possible as an intraday thing for surf.
trading for people who watch the market operate is done intraday and with a lot of cars.
In surf's case and how it is used is for "protection".
The people who get money via "prospectors" do their churning to get fees and commissions and they limit their loses by preventing themsleves from trading trends for real.
Real the sidebar comments in Covel. there you see these types being quoted about something they cannot do simply because they have to have "protection" because of their size compared to the market capacity size.
There is no way an outfit can trade much over five times the market capacity. The capacity is determined by the T&S.
Every day looks like a suspension bridge (I do not want to go too far in maths terms) vis a vis what makes P/E ratios and investing in stocks.
The financial industry makes instruments. Instruments make money when they are sufficiently disguised. Making money is fees and commissions.
ET is a public forum for people who recognize that they want to make easy money without knowing anything. They are called potential traders. Learners of how to make money.
They find out book reading doesn't work. reaD a book that was a journey of 8 hazardous years.....gimmie a break......
They turn to another myth: the 10,000 hour myth.
then they turn to OODA, the betting and finding out what happened.
Now take a look at luck.
I did the luck thing for one month. I did what I was told by an MIT type nerd.
The story can't be told. It was too easy.
We agreed to all stay weird looking. It works. Very few get through the filter.
Because I believe TA entries are no better than random.
this is a requirement to be a "prospector for the trade who believes the same. Surf is a parasite.
Interday at that.
There are various ways to extract consistent money from the markets, some folks just need to be more open minded.
Perhaps your method works well for you, great, perhaps others can also claim the same with completely different methods.
Everybody is ignorant, only on different subjects, there are no human Gods some of you act like one.
Perhaps your method works well for you, great, perhaps others can also claim the same with completely different methods.
Everybody is ignorant, only on different subjects, there are no human Gods some of you act like one.
If that were true (for me), I'm sure I would have quit trading 12 years ago!
The 50% win rate needs to be accompanied by an average win size at least marginally larger than the average loss size. Random long entries might get you there, if only because the long-term market bias is to the long side, although even then that might only keep you on pace with inflation and index survivorship bias.
My point was that trading is not like other endeavors where a 90% rate of being correct is required to be among the top performers. There's nothing wrong with striving for that, but it isn't a necessity when you're trading. 60% correct with bigger winners than losers and the right amount of leverage will get you everything you ever wanted and more.
When you listen to somebody speaking in a foreign language you don't understand, you can't differentiate between real words and made up words. But you'd be a fool to believe there are no other languages just because you can't understand them. Isn't it? If a foreigner can't understand English, throwing him random English words while trying to predict his reaction would be foolish too.
Quote from baro-san:
When you listen to somebody speaking in a foreign language you don't understand, you can't differentiate between real words and made up words. But you'd be a fool to believe there are no other languages just because you can't understand them. Isn't it? If a foreigner can't understand English, throwing him random English words while trying to predict his reaction would be foolish too.
I am very well versed in technical analysis, I was an MTA member, and have hands on experience for years in the field. Please don't misstate facts via analogy in an effort to discredit.
Surf
But you never created a system that worked consistently using TA. So how "well versed" are you really?