Why I Don't Believe in TA

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Usually people do their due diligence, read and analyze a study first, before posting it and proclaiming it gospel. This is usually protocol if you want to be taken seriously :)

PS Ever been to Wolfgangs Steakhouse in the 50s? I'm maybe going tonight.

Quote from marketsurfer:

not at all, i was just made aware of that study today surf
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Quote from marketsurfer:

Using programs to analyse the book is one part of the short term Price Drivers system.

Basically, I looked at the obvious flaws of the way things are done with retail traders due to their overwhelming failure rate. Everyone uses TA, even FX dealers who win when you lose offer free TA courses and classes!, clearly there is something wrong with this picture. Then I realized that PRICE is the effect, studying the effect of a process makes no sense, one needs to study the cause, why price moves, as the effect is too late to act upon as it has already happened-- this lead to the design of the Price Drivers. surf
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interesting topic, definitely worth the time to explore further and does add content...
 
Quote from kut2k2:

OK now you're pretending like you don't know the difference between discretionary trading and mechanical trading.

I can't comment on discretionary trading. If it works for somebody, more power to them. And academics typically don't try to test discretionary trading; I doubt they did so in the paper you cited.
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No question I know the difference. These TA and price action folks claim to be objective not discretionary traders. I have no argument against discretionary trading . However when it's claimed to be objective is when it's self delusion.
 
Quote from dealmaker:

interesting topic, definitely worth the time to explore further and does add content...
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Thanks, the anger alone in the TA types when their narrow view is questioned is in an of itself very telling. Just look at this Raskolnikov

Registered: Nov 2008
Posts: 3811



ttp://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=122840 character who follows me around from thread to thread proclaiming the greatness of TA. Very funny stuff!
 
Quote from R. Raskolnikov:

Usually people do their due diligence, read and analyze a study first, before posting it and proclaiming it gospel. This is usually protocol if you want to be taken seriously :)

.
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Who said it was gospel? Not me.... It's just another nail in TA's sad coffin as it breathes its final dying breaths.....
 
academics =! traders... if they knew how to trade, they wouldn't be writing 'research papers'


anything of value by an academic never sees the light of day... objective TA exists, may not be objective to you; but it does exist.


imo, your argument is equivalent to "the world is flat", and/or "the earth is the center of the universe" -- only when someone takes you out of your 2D world can you actually see it. Until then, enjoy flatland.
 
Quote from R. Raskolnikov:

Which invariable leads back to the idea that you cannot test something you do not know, aka a proprietary combo of inputs and trading rules.
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Finance academics call you a noise trader--- so I understand your resentment.
 
Quote from Eyez:

academics =! traders... if they knew how to trade, they wouldn't be writing 'research papers'


anything of value by an academic never sees the light of day... objective TA exists, may not be objective to you; but it does exist.


imo, your argument is equivalent to "the world is flat", and/or "the earth is the center of the universe" -- only when someone takes you out of your 2D world can you actually see it. Until then, enjoy flatland.
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Effective, objective TA does not exist--- but you just keep on searching. One day you might be able to tell how many moves in one direction increases the odds of the next move reversing or being in the same direction. Untill then, enjoy pretending your random entries provide an edge. surf
 
Then they clearly do not understand what I do. I trade trends, intraday, that line up on multiple time frame sets. Each set that produces a trade is based on a new starting trend on that TFP. Intraday it's not noise but perhaps if you want to go over days/weeks/months etc then I guess you could look at it as noise because they are using much larger TPS's.

Quote from marketsurfer:

Finance academics call you a noise trader--- so I understand your resentment.
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Again, it doesn't matter how much of a genius an academic is or how much insight they have into the topic they are writing about; if they do not have all the data at their disposal to test, then they cannot come to a definitive conclusion. The OP simply cannot get that thru his/her head.

Quote from Eyez:

academics =! traders... if they knew how to trade, they wouldn't be writing 'research papers'
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