Marketsurfer said:Things like COT, the book, news, economic events, special situations, money flows, insider activity and even rumors are all Price Drivers. These items among others are boiled down into a 1 to 10 scale with 5 being neutral. Above 5, bullish pressure, below 5 bearish pressure. Predictions and or trades are entered with the bias created by the PD analysis. TA on the other hand only deals with past price that has no influence on the future regardless of the rhetoric and anecdotal claims.
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What he is doing is what i do using TA:
1. He uses information to find out if maket is bullish or not. But to know what is bullish or bearish he has to see in PAST to know what the influence is of every parameter that he uses.
Example: how big must moneyflow be to have bullish influence? He can only find that out by looking to the past. If he does not look at the past he cannot say at what level markets can turn or not. Because he cannot see in future.
2. He has to quantify his analysis. This means mathematics.
TA does the same thing for me. I look at different parameters and try to find out how this will influence the market.
If Marketsurfer does not use information from the past, his analysis will have no relevance. You can only know what the influence of COT, the book, news, economic events, special situations, money flows, insider activity and even rumors are if you look at the past. Without past he has no clue what will happen. Or maybe he has a secret gift like back to the future.
