Why does TA not work (for you)?
- Thread starter Xspurt
- Start date
I heard if you take five TA in a room to interpret a chart, they come out with five different opinions. The problem with letting go of TA is the amount of years people have invested in it. TA has not evolved in a long time. It will remain subjective until the end of time. Give yourselves a break from TA and google Ebbchart Primer. It's the only chart I have seen that makes sense (holy grail, anyone). Heard of the Ebb's triple patterns?
It is a reconfirmation in different words that you are unable to interview me so I will not be interviewed by you.
*YAWN*
But thanks for signing up!
But thanks for signing up!
I would really be good for him to have the experience.
I offered to have his programmers use what I told them to use as an ATS but he could just skip that and watch a third party account trade.
He has already seen a third party comment on a net of !.7 million the third party evealuted. It didn't sink in for surf at that time.
The easiest way would be to have one of his buddies "link in " an account to any one of many traders here. Surf may have problems with the risk, though. He is very frightened of learning what is reaslly going on.
"having knowledge" would wreck his prospecting speils.
Of course it's possible, but there's no edge there. A certain number of TA traders will guess right, get on a roll, and bank serious coin. However, my experience has been that it takes big risks to make big rewards. If you are just grinding out a living trading, you might as well get a job and trade as a hobby. If you want to make it big in this biz, big risk is a preresquite. You can definitely do it, but you need to be willing to risk it all, when the time is right. It's critical to understand that the market is designed to take your money by all kinds of chichanery. It's how the beast survives--- do you really think a fixed system would last very long in the belly of a beast built on busting you? Can it be beat, yes-- but not by methods it teaches like TA. Remember, the market holds the strongest attraction to those least suited for it.
Now, to your question, I would analyse 1000 trades before I would consider TA prOducing an edge outside of random distribution.
Peace & profits
Surf
Ps-- just show me 3 months overall profitable and I'll consider your claims.
Quote from marketsurfer:
Now, to your question, I would analyse 1000 trades before I would consider TA prOducing an edge outside of random distribution.
Peace & profits
Surf
Ps-- just show me 3 months overall profitable and I'll consider your claims.
how long would price driver method need to generate 1000 trades? 20 years? less? more?
i don't know, seems wrong to bash ta when price driver method has no evidence of success over time. it might not even work, could be just luck.
Five people interpreting a chart differently doesn't invalidate technical price action trading. Each trader may have different objectives. For example, among day traders, a micro-scalper has a different objective than a price swing scalper (who may trade both directions even in certain types of trending patterns), who has a different objective than an intraday trend-follower who scalps price swings only in the direction of a trending move, who has a different objective than an intraday trend follower who holds through retraces (and possibly adds to a profitable position during retraces), who has a different objective than a counter-trend scalper who only trades contrary to a strong directional price move.
So here are five traders who may all use an analysis of technical setups (price and/or indicator patterns on a chart) to enter into trades that each believes has a higher probability of reaching profit A before hitting stop loss B, based on extensive research of their chosen trade setups (technical patterns).
Here is an intraday candle chart with time and price removed. I invite any technical price action traders who see a potential trade setup at the hard right edge to let us know what would have to happen next to trigger a trade entry, the direction of the trade (long/short), the level at which the odds of success would diminish enough to exit (stop loss level), and the minimum level at which a profit will taken (and why, if you want to share that).
Since there are no price levels, you can assign any price to your entry and assume each grid line marks a 5-unit move (5 ticks).
You are correct. I don't make any claims regarding price driver other than the fact it anticipates trades based on information rather than price. Price driver is extremely novel and has not been fully tested. TA has been tested and it has failed multiple times. The one test that shows a slight edge with one method is long term and the edge isnt enough to beat the vig. If you dismiss scientific testing as irrelevant nd wish to accept TA on faith, promises, and tall tales-- that's your prerogative.
Surf