Why I Don't Believe in TA

[rknas]

Quote from scriabinop23:

Sorry guy, but "pure price action" is a function of p(t-1), so it lags price as well. And so do trend lines, channels, S/R, etc.

Those are indicators, just another sort (extrapolations). If you are reacting to changes in volume, bid/ask spread, etc.. you are still extrapolating t-1 ....

In pure price action based trading, your trades are placed in advance, before price gets there, not after. There is no lag. Yes there is extrapolation based on p(t-1), p(t-2), ... to predict p(t), but it happens between t-1 and t.

There are some who wait for further confirmation by zooming into a smaller fractal, but there is PA involved in the zoomed level as well. Even in case of those traders who wait for PA to confirm their entries before they jump in, the exact action they are looking for is pre planned, there is no lag. When the action happens, they enter.

 

[NoDoji]

Quote from scriabinop23:

Sorry guy, but "pure price action" is a function of p(t-1), so it lags price as well. And so do trend lines, channels, S/R, etc.

Pure price action cannot lag price because it is what price is doing right now.

Profitable price action trading involves placing orders in advance at levels which one's significant technical analysis of past price action has determined will result in price moving favorably at least X ticks before moving adversely no more than Y ticks at a frequency that, over an acceptable period of time (to the trader), results in net profitability after slippage and commissions.

I find trend and channel lines to be leading indicators, not lagging.

 

[R. Raskolnikov]

This is what I (and others) have been telling this guy for some time now. But he's convinced that all TA, every single combo of inputs, has been tested and proven to be ineffective. If he starts with this false premise, it's no wonder he's so dug into his position.

Quote from Daring:



I do agree that classic TA is useless but there's a world out there of TA that is very rarely discussed in public boards, if at all, that happens to be extremely effective.

 

[Jack_Larkin]

Quote from R. Raskolnikov:

When did you become a paying sponsor on ET?

Yeah, in the last few months his efforts to link build to his blog and capture traffic has been through the roof.

Contributing "quality content" is content that resides on this site, I'd understand if he was linking to a blog that wasn't his own, and he wanted to point out an interesting read or give credit to a source, but it's his own material after all and he's giving a preview that requires people to click through to his site to get the rest.

The whole thing reeks of someone trying to up their search ranking and increase traffic to their site before turning commercial to monetize said traffic.

Of course, marketsurfer has been posting and contributing here for ages and otherwise is a decent member of the forum, so I'm not about to lynch him for it (and I believe that's why most other posters here give him a pass as well.)

People have been banned for less. Just saying.

 

[marketsurfer]

Quote from NoDoji:

Pure price action cannot lag price because it is what price is doing right now.

Profitable price action trading involves placing orders in advance at levels which one's significant technical analysis of past price action has determined will result in price moving favorably at least X ticks before moving adversely no more than Y ticks at a frequency that, over an acceptable period of time (to the trader), results in net profitability after slippage and commissions.

I find trend and channel lines to be leading indicators, not lagging.

No, price itself is the past. Price is the accumulation of the factors that create it. The chart can only show the past price, making it irrelevant to anyone but the deluded. sorry, but dats a fact jane. surf

 

[marketsurfer]

Quote from R. Raskolnikov:

This is what I (and others) have been telling this guy for some time now. But he's convinced that all TA, every single combo of inputs, has been tested and proven to be ineffective. If he starts with this false premise, it's no wonder he's so dug into his position.

You really need to start providing value or you are just going to be banned again. Don't say I didnt' warn you first.

surf

 

[R. Raskolnikov]

Again? I've never been banned. I was responding to another poster whom I agreed with. I've given you multiple examples, given you entries, exits and the times of trades I've taken. There is value there if one is not so lazy or pigheaded. I got several PMs the day that i posted those trade specifics from other posters who said that they must trade similarly to me because they had very similar signals to the ones I posted.

I don't know why you are so snippy today. You are the one who is violating the TOS by posting personal links for self promotion, not me pal.

Quote from marketsurfer:

You really need to start providing value or you are just going to be banned again. Don't say I didnt' warn you first.

surf

 

[Zr1Trader]

Quote from marketsurfer:

No, price itself is the past. Price is the accumulation of the factors that create it. The chart can only show the past price, making it irrelevant to anyone but the deluded. sorry, but dats a fact jane. surf

Price, Time and sales show what IS, NOW, Present,Then PAST, and can be studied as FACT. In contrast Orders on the dom are a MAYBE and can only be studied as a MAYBE. Therefore I find the study of past and present price more useful.



Different strokes for different folks.

I think the whole TA debate is a matter of interpreting the language.

Everything that goes through your mind is "past data" the second you comprehend it, is it not? Would that make your thoughts irrelevant?

 

[marketsurfer]

Quote from R. Raskolnikov:

Again? I've never been banned. I was responding to another poster whom I agreed with. I've given you multiple examples, given you entries, exits and the times of trades I've taken. There is value there if one is not so lazy or pigheaded. I got several PMs the day that i posted those trade specifics from other posters who said that they must trade similarly to me because they had very similar signals to the ones I posted.

I don't know why you are so snippy today. You are the one who is violating the TOS by posting personal links for self promotion, not me pal.

Listen captain, the rules say "commercial interests"--- I don;t sell anything and provide quality content on elite--- Personal blogs are allowed to be linked to as long as content is also posted along with the link. Get with the program or get banned again sharpie.

In addition, stop making stuff up all the time. You have never posted a before the fact call on elite, ever. Nor have you provided any content of value, ever. I still dont' get your obsession with me and this site????
surf

 

[TheMagican]

Quote from marketsurfer:

Listen captain, the rules say "commercial interests"--- I don;t sell anything and provide quality content on elite--- Personal blogs are allowed to be linked to as long as content is also posted along with the link. Get with the program or get banned again sharpie.

In addition, stop making stuff up all the time. You have never posted a before the fact call on elite, ever.

surf

Why bother with turds?Better yet,please tell us about your PD approach a bit more.