Quote from marketsurfer:
XSPURT
<b> To say TA doesn't work as a means of quantifying risk reward ratios is like saying no one can win at gambling. You might be a sore loser, but that doesn't mean there aren't happy winners.</b>
You do this by looking at a chart?
surf
Yeah, it works like this...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=254493&perpage=6&pagenumber=1
Same as this...
I didn't see too many surf price drivers calling a buy on Monday and issue a big warning for a red Friday a week in advance.
Oh hang on, no surf went long on Google and SAN when I was saying it's approaching a time and price date for wicked shorts on Friday.
Of course it's not TA, it's just luck again.
And it's hindsight - hindsight a week in advance, isn't that what you call it Oily and surf?
I wonder what next week will bring? Heehee
Attachment: seeing the week ahead.png
http://www.elitetrader.com/vb/showthread.php?s=&postid=3656720#post3656720
Same as here...
Quote from Xspurt:
Friday closed on critical support and in an election year when they manipulate everything they can to support the market the plunge protection team will be on hand. However there are a few things to note: this is a very negative chart pattern calling for much lower prices when the support breaks and Fri 19th is the anniversary of the Black Monday crash of '87 and there is a history of panics repeating. Friday late closes need to be watched.
The action now is either to take profits or better still, go into the same mode of analysis as started the move and look for a reversal up to catch the pop or if the support breaks continue holding.
Well, whaddya know! I got lucky AGAIN with TA. Profits booked and they loved that blue support for a pop up for some reason. What a total surprise guys that TA price drivers work!
Funny, the luck doesn't seem to be rubbing off on WFC's price drivers. Probably just needs more time?
Attachment: surf\'s lucky ta.png
http://www.elitetrader.com/vb/showthread.php?s=&postid=3652404#post3652404
Same as here...
Quote from marketsurfer:
The wheels turn and the TA true believers and fakers continual to squirm
rather than stepping up to the plate.
This last guy takes the cake, I guess he will still be pointing at his correct guess next year....
Either you prove your methods in real time, or i'll assert they are full of baloney.
Here's your chance, take it or don't.
surf
Hey surf, remember this "guess" as well as the YM? In case you have forgotten I've put a big red arrow at where you WOULD have been making money if you had a TA price drover. Funny thing is you called short into a bull long and then panicked out before the short. Go on - tell me I had another lucky guess. Go through my old posts and you'll find I'm one lucky guesser.
(Don't tell surf these are all real time)
Find the red arrow...
Attachment: surf forgets jcp.png
http://www.elitetrader.com/vb/showthread.php?s=&postid=3639262#post3639262
Sorry to hear about the early onset of Alzheimers. Here's something to refresh your memory...
Quote from marketsurfer:
What is your chart telling you about Monday? You TA folks speak in riddles that can easily be interpreted after the fact to mean anything. Please be specific. My Price Drivers are signaling bullish for Monday.
I maintain, once TA shows it, its too late or of negligible value in MOST cases. Enough so to negate the value of such an approach. Clearly, it can be shown in a very small number of circumstances to have value-- such as the daily candle in JCP-- but its not repeatable enough to be of interest.
surf
It is telling you the welcome mat has been replaced by the trap door. It's not talking about Monday, it's talking about now - take profits and reverse short. You hold that short until you get a buy signal and that might be on Monday. It might be in a week or a month as this has the potential to roll through a lot of time frames.
This is a dangerous position to be long imo because of the roll over potential. In any event bank profits, sell short and wait for the buy signal.
Xspurt
Ok, we have doubled down into the Dec YM long at 13497 signals are strong for a bullish monday and next week thus far. enjoy! Surf
Great! I do like the sound of doubling - we got double elephants
Xspurt
Quote from marketsurfer:
Holy F! closing out the long YM trade at 13465 with loss. surf another signal 100% reversed-- got the fat move but not in the direction predicted. what we saw is happening RIGHT NOW, but dang it, wrong way.....
Gonna step away for awhile and re evaluate. thanks for following along. surf
From the above it was clear that TA would have made a double profit by closing surf's long to bank profits and reversing short to add to profits from the fall.
However surf's price drivers not only overstayed their welcome, they were extra bullish in a TA short set up and doubled up for a double loss instead of a double profit.
Even reversing surf's price driver signals won't help much because of the lack of control.
(For Oilfxpro, freak and the gang of trolls, Monday comes after Friday as every call I make is hindsight to you)
http://www.elitetrader.com/vb/showthread.php?s=&postid=3636125#post3636125
I can't be bothered doing 100 of these and you'll have forgotten after the first 3.
