Ha, you had to bring that up! Perhaps the single worst call in the history of the gold market.
Why does TA not work (for you)?
- Thread starter Xspurt
- Start date
Ha, you had to bring that up! Perhaps the single worst call in the history of the gold market.
I have been asked why I am so adamant about TA being the wrong road for traders to take.
The reason is that TA is insidious, it is dangerous, it is a creation of the market designed to make you lose. Unless its understood to be illustrative, then stay away.
TA attracts noobs like moths to a flame. What could be easier than following a line? Just look at this chart! Woulda coulda shoulda hindsight analysis applied in real time is seductive. Apparently, a very few folks via intuition or psychic powers claim it works. I can't argue with personal experience-- just with rationality. TA simply is a failed method overall. N
The reason is that TA is insidious, it is dangerous, it is a creation of the market designed to make you lose. Unless its understood to be illustrative, then stay away.
TA attracts noobs like moths to a flame. What could be easier than following a line? Just look at this chart! Woulda coulda shoulda hindsight analysis applied in real time is seductive. Apparently, a very few folks via intuition or psychic powers claim it works. I can't argue with personal experience-- just with rationality. TA simply is a failed method overall. N
But what made your gold call outstanding wasn't that is was wrong because we have all made wrong calls, it was that you persisted in claiming you were right when clearly you were like a moth to the flame. You were completely seduced by your own belief and fell in love with a losing trade. There is nothing more insidious and dangerous.
But here you are telling us TA is all this. Kinda haughty attitude.
Hey, I'm really no interested in doing your work for you. ET, and ET alone, taught me how to trade. All the info you will ever need is right here.
Well, you may have to learn to code so that you know exactly what indicators are meant to do. After you do that, you will learn you can see turns faster with the naked eye most times.
You are absolutely 100% correct. One of my flaws is holding on to positions too long.
Looks like FrenchFry will be the second person ever, since 2002-- to be on my ignore list.
These guy (s) seem to follow high hit rate threads to post his dribble. Sad they can't generate an audience on their own. On ignore FrenchFry
If you had drawn a trendline, you would have stopped and reversed, most likely.
I started reading this thread and realized that 99% of the responses avoided answering the question poised in the title. That's some TA for your ass.
TA does work for me most of the time. But when it doesn't I pretty much chalk it up to misreading the market. If you don't believe TA works, then you are pretty much saying you throw your money in randomly. How else do you make a trade????
Maybe what should have been done firstly was define what TA means to the author. Because I feel that price action, support/resistance levels, even float size can all be considered TA. I swing trade btw so what the hell do I know lol anyways popped my cherry first post peace out from so cal
TA does work for me most of the time. But when it doesn't I pretty much chalk it up to misreading the market. If you don't believe TA works, then you are pretty much saying you throw your money in randomly. How else do you make a trade????
Maybe what should have been done firstly was define what TA means to the author. Because I feel that price action, support/resistance levels, even float size can all be considered TA. I swing trade btw so what the hell do I know lol anyways popped my cherry first post peace out from so cal