Quote from Paulds11:
Another ramble by someone who believes in TA and continues the fairy tale with typical anecdotes, opinions and assertions:
The purpose of Technical analysis is as an aid to where the money is flowing. Contrary to your opinion it does indeed matter that many use it because a Trader is always trying to move WITH the HEARD not against it, as such whether we like it or not we must therefore concern ourselves at least in part to what people are doing.. is that simple as a point of principle.
On the contrary, this is all opinion.
Mechanical systems work (not many traders are effective but they work, and many Investment banks use Algorithmic trading in many guises but they are in basic form Technical Analysis based trading systems,
Provide proof, not assertion & opinion.
Also I never said anything about technical analysis itself doing any predicting, rather it described what happened and what IS... Prediction is an extrapolation of what was and IS by the Trader NOT necessarily Technical Analysis.
Correct. TA does not predict.
No one method works easily, even Technical Analysis is a difficult discipline to interpret and understand, my point is that you seem to dismiss it as even being popular or in use by a large number of even Retail traders and investors. I had my initiation to Technical Trading From two huge names, Chuck Mellon and AJ Monte and they introduced me to Technical Analysis as a Momentum Trader and they are worth money and yet you continue to deny this?.. man no more of this nonsense...PLEASE.. your replies are just hot air..look how many posts you've made ... its a wonder you have any time to trade... If you Trade at all that is....
"Two huge names...worth more money"...your assertion is a poster child for anecdotal evidence -- Definition: Anecdotal evidence is an informal account of evidence in the form of an anecdote or hearsay. The term is often used in contrast to scientific evidence, such as evidence-based medicine, which are types of formal accounts. Some anecdotal evidence does not qualify as scientific evidence because its nature prevents it from being investigated using the scientific method. Misuse of anecdotal evidence is a logical fallacy and is sometimes informally referred to as the "person who" fallacy ("I know a person who..."; "I know of a case where..." etc.)."
Technical Analysis will provide me an edge in that it is of course impossible to predict accurately, but if you deny that the ARMS index, MACD, RSI, CCI, WADX, DMI, Lines of support and Resistance, TIKI TRINQ, 50 and 200 day moving average somehow are irrelevant as an aid to understand market sentiment currently so I can then make my own market perditions then you are a fool.. pure and simple...
Without proof, your strong claims of its value do nothing to strenghten your arguments.
I assert once more...
This is usually all TA lovers can do. It was like in a "Few Good Men" where the young naval lawyer says "I Strenuously Object!!"
Im all done here folks... its a shame really the argument needs to move on to which T.A techniques are better suited to particular time frames..e.g. MACD is a lagging indicator not a lading one and which timeframes do Traders find it suitable / unsuitable..etc etc... this is where we should be by now...
Throwing up beliefs and baloney and saying that should basically be enough only makes you look like a duffer. Belief, opinion and arguments is no more proof of its value than the anecdotal evidence malarkey you threw up earlier
As such I wont answer more replies on this issue untill we can move this one along a bit...
Yes. If you say so, it must be correct. Yuck
sorry but, we both know this is right mate..
Because you think so or because you convinced yourself you have proven your case?
Another ramble by someone who believes in TA and continues the fairy tale with typical anecdotes, opinions and assertions:
The purpose of Technical analysis is as an aid to where the money is flowing. Contrary to your opinion it does indeed matter that many use it because a Trader is always trying to move WITH the HEARD not against it, as such whether we like it or not we must therefore concern ourselves at least in part to what people are doing.. is that simple as a point of principle.
On the contrary, this is all opinion.
Mechanical systems work (not many traders are effective but they work, and many Investment banks use Algorithmic trading in many guises but they are in basic form Technical Analysis based trading systems,
Provide proof, not assertion & opinion.
Also I never said anything about technical analysis itself doing any predicting, rather it described what happened and what IS... Prediction is an extrapolation of what was and IS by the Trader NOT necessarily Technical Analysis.
Correct. TA does not predict.
No one method works easily, even Technical Analysis is a difficult discipline to interpret and understand, my point is that you seem to dismiss it as even being popular or in use by a large number of even Retail traders and investors. I had my initiation to Technical Trading From two huge names, Chuck Mellon and AJ Monte and they introduced me to Technical Analysis as a Momentum Trader and they are worth money and yet you continue to deny this?.. man no more of this nonsense...PLEASE.. your replies are just hot air..look how many posts you've made ... its a wonder you have any time to trade... If you Trade at all that is....
"Two huge names...worth more money"...your assertion is a poster child for anecdotal evidence -- Definition: Anecdotal evidence is an informal account of evidence in the form of an anecdote or hearsay. The term is often used in contrast to scientific evidence, such as evidence-based medicine, which are types of formal accounts. Some anecdotal evidence does not qualify as scientific evidence because its nature prevents it from being investigated using the scientific method. Misuse of anecdotal evidence is a logical fallacy and is sometimes informally referred to as the "person who" fallacy ("I know a person who..."; "I know of a case where..." etc.)."
Technical Analysis will provide me an edge in that it is of course impossible to predict accurately, but if you deny that the ARMS index, MACD, RSI, CCI, WADX, DMI, Lines of support and Resistance, TIKI TRINQ, 50 and 200 day moving average somehow are irrelevant as an aid to understand market sentiment currently so I can then make my own market perditions then you are a fool.. pure and simple...
Without proof, your strong claims of its value do nothing to strenghten your arguments.
I assert once more...
This is usually all TA lovers can do. It was like in a "Few Good Men" where the young naval lawyer says "I Strenuously Object!!"
Im all done here folks... its a shame really the argument needs to move on to which T.A techniques are better suited to particular time frames..e.g. MACD is a lagging indicator not a lading one and which timeframes do Traders find it suitable / unsuitable..etc etc... this is where we should be by now...
Throwing up beliefs and baloney and saying that should basically be enough only makes you look like a duffer. Belief, opinion and arguments is no more proof of its value than the anecdotal evidence malarkey you threw up earlier
As such I wont answer more replies on this issue untill we can move this one along a bit...
Yes. If you say so, it must be correct. Yuck
sorry but, we both know this is right mate..
Because you think so or because you convinced yourself you have proven your case?
