Why TA does not work

Quote from oilfxpro:

Here you can see failed support levels and resistance that failed several times.
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Yeah it's like the old story from Gordie boy's home town: two salesmen are sent to India to sell shoes. The first telegrams the boss and says, Get me a ticket for home - they don't wear shoes here. The other sends a telegram saying, Boss they don't wear shoes here, send me all you can.

Those broken lines are goldmines to a TA trader but a nightmare for an EA mouse clicker because an EA can't qualify price action. It's like surf's silly no stop loss idea that he quotes: it's based on PA breaking the 50 sma without distinction between high quality and low quality PA set ups, higher time frames, whether the ma is flat or inclined, the angle of incline, velocity, energy, etc., etc.

It's a totally worthless conclusion that no stops are better when it was a simple EA break of the 50sma. Then you get a GOOG move and surf gets slammed because these factors are not considered and he's in free-fall without a stop.

So Oily, of course these lines work and fail just like the 50sma cross and it's a mystery to the EV vendor why that happens. For the rest who pay their dues to learn TA, these "failures" are a goldmine. Boss, we need to trade these lines because they fail :D
 
Quote from Xspurt:



So Oily, of course these lines work and fail just like the 50sma cross and it's a mystery to the EV vendor why that happens. For the rest who pay their dues to learn TA, these "failures" are a goldmine. Boss, we need to trade these lines because they fail :D
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Some traders are buying at previous support and selling at previous resistance and getting clobbered , yet some times these supports work and those looking for failures lose.

Exact science or coin toss?
 
Quote from oilfxpro:

Some traders are buying at previous support and selling at previous resistance and getting clobbered , yet some times these supports work and those looking for failures lose.

Exact science or coin toss?
More...

Who cares? As long as u lose less and win more !?
 
Why TA does not work?.

In the case of Xspurt, TA does work perfectly to the point that he can predict every move that is coming, most times to the perfect tick of the turns.

This magnificent ability gift comes at a price though: He can't trade any of the moves he can so easily predict. His 1040 shows that he makes a living selling shoes, after 30 years of predicting markets, most times to the tick. He closed his brokerage account many years ago, and now he only has FX bucket shop accounts where he blows beer money, every now and then.

He's like Cassandra. He knows all about the future of all futures markets, but can't do a damn profitable thing about it.

Poor bastard. I'd feel compassion for him... if I could.
 
Quote from NielsBohredBush:

Why TA does not work?.

In the case of Xspurt, TA does work perfectly to the point that he can predict every move that is coming, most times to the perfect tick of the turns.

This magnificent ability gift comes at a price though: He can't trade any of the moves he can so easily predict. His 1040 shows that he makes a living selling shoes, after 30 years of predicting markets, most times to the tick. He closed his brokerage account many years ago, and now he only has FX bucket shop accounts where he blows beer money, every now and then.

He's like Cassandra. He knows all about the future of all futures markets, but can't do a damn profitable thing about it.

Poor bastard. I'd feel compassion for him... if I could.
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Thanks for keeping up to your usual standard of ET garbage contradictions Steve. Time for a another new alias as you're on ignore once again :D

Hey your last 4 calls were all like surf's while mine were all winners, but the difference between you and surf is you're the chicken that has to get a new alias every time you bomb. Ya envy of me is like a drug to you but what I love most about my posts is knowing it's like an itch you can't ever scratch. Enjoy, I got lots more coming and you'll have to be back to read every word of mine like my disciple. You hate it, but can't keep away. I win, you lose... as always :cool:
 
Like all good shoe salesmen and bullshitters you have perfected the "misdirection" routine, to deflect the itchy subject matter at hand:

1040 and broker logs or go home!.

I don't know who steve is, probably another of your mind's misdirections...
 
Quote from oilfxpro:

Some traders are buying at previous support and selling at previous resistance and getting clobbered , yet some times these supports work and those looking for failures lose.

Exact science or coin toss?
More...

Who ever said "exact science"? Just the practical skill. What the problem do you have with anything that is not exact science? Just trade it and stop thinking too much already. Thinking more won't help you in this business, believe me, all structural edges are already found by top institutions which have all resources in the world at their service including scientists who are much smarter than you.

But if you stop trying to compete with them in their game and instead just watch their actions, you will probably learn how to parasitize on their actions quite effectively. Just takes practice and maybe a bit of natural traits, nothing else...
 
Quote from oilfxpro:

Some traders are buying at previous support and selling at previous resistance and getting clobbered , yet some times these supports work and those looking for failures lose.

Exact science or coin toss?
More...

Good question and there are a number of solutions from basic to advanced. The set ups can be exact but PA can range from perfect to messy and obviously the weaker set ups have a lower success rate. However if a trader takes a break of a support just because the support broke, then tossing the coin might improve the results. Same goes for buying and selling S&R and expecting it to hold - it's gambling.

If it was that easy there would be no trolls, no arguments, and 5 mins study would put a garbage collector on the road to riches.
 
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