Why would anyone share their secrets?

[Steve Tvardek]

I dont care about "studies" because none of those studies approach the mkt the same way I do with respect to TA so their findings arent relevant to me.

The ONLY thing that matters to me is that I know how to make TA work for me everyday. For those that havent learned what works for them, I can understand the skepticism but fortunately there are many many ways to use TA successfully. Just takes a good deal of observation. You HAVE to personalize it, I feel, in order to obtain consistency.

Quote from rcanfiel:

a) There are a large number of studies showing little value in classic TA when subjected to multiyear studies across markets, across many different parameter settings for TA indicators/methods.

b) The opposition, TAphiles, have little to prove that TA works, outside of anecdotal reports. In addition, even the CTAs (and many hedge funds) who are supposed to be the experts, struggle to perform well, examining most CTA annual performance reports.

c) I side with a) over b)

 

[Voodoo-king]

Quote from Reaver:

Try convincing anyone who makes consistent money using TA that TA doesn't work....I don't think you'll get any anti-TA converts.

Im sure its like a color blind person convincing a non color blind person that color blindness dont exist. The tests are bogus. Seriously they are im not color blind.. No way.. Everyone pretends to see the numbers.. They are all informed, its just a conspiracy..

 

[thetrendfollowe]

Quote from Anekdoten:

Technical analysis is worthless to those that fail to profit from it.

Have found no other explanation for such comments.

Anek

I'd go one step further and say that all analysis on its own right is worthless.

It's the profitable application of that analysis which is important.

 

[le140]

This is my secret:

























Put in about 15 plus hours everyday including weekends for years trading and learning about charts. its because I think about what to do, break down each losing trades, big losses....kept asking myself what I could have done to make my trading better. The only way I could have done this many hours is because I love trading and everything about it. My mind is on trading every waking hour when I have a losing day. Less when I have winning days.

Then blew up a few accounts...

Then last Friday when I walk out of my trading office, I just could not believe what I have done in term of money gain. how could this be SO fun and profittable??? man, LIFE IS GOOD.

That is my secret.

 

[RL8093]

Quote from QuantPlus:Most of the people posting detail here... Are doing some simplistic variation of:
(1) Momentum trading
(2) Technical analysis

#1 is very hard to do...
#2 is completely worthless.

Quote from rcanfiel:

a) There are a large number of studies showing little value in classic TA when subjected to multiyear studies across markets, across many different parameter settings for TA indicators/methods.

b) The opposition, TAphiles, have little to prove that TA works, outside of anecdotal reports. In addition, even the CTAs (and many hedge funds) who are supposed to be the experts, struggle to perform well, examining most CTA annual performance reports.

c) I side with a) over b)

The mkt is composed of a 'mob' of people actively making decisions and taking actions. These actions are then represented graphically in the charts. As traders we use price action, pattern recognition, oscillators, averages, etc to provide an insight into the emotional make-up of this mob and clues to it's future behavior.

It comes as no real shock that the academics cannot find statistically-relevant behavior in the charts - they graphically represent the emotional behavior of humans. It should also come as no surprise that humans (some of whom have developed an insight into this emotionally-based behavior) can use these same tools to regularly harvest profits from the mkts.

R

 

[nkhoi]

Quote from Batman28:

... if anyone truly had the knowledge/tools why would they share it or offer it to others?

...

when you are at their level you will understand.

 

[Batman28]

Quote from nkhoi:

when you are at their level you will understand.

can you elaborate or at least give a hint? lines like that are really pointless.. type of thing u find people say when they really don't know the answer..

le140 I liked your post thanks for the insight..

 

[Tums]

Quote from Batman28:

when it comes to trading (or maybe anything involved in making money) you'd find there are lot of people who are dying you to offer you advice on how to do it etc. Even on this forum, there are few who want to call the market for everyone and tell others what to do. the question is: if anyone truly had the knowledge/tools why would they share it or offer it to others?
...

I know of at least 5 profitable systems/methods disclosed on ET.
Each system is detailed with extensive instructions and examples.

Beauty is in the eye of the beholder, same goes for knowledge.

 

[Batman28]

Quote from Tums:

I know of at least 5 profitable systems/methods disclosed on ET.
Each system is detailed with extensive instructions and examples.

can you give me just ONE example?

thanks

 

[Tums]

Quote from Batman28:

can you give me just ONE example?

thanks

just read the first sentence of the first post...

http://www.elitetrader.com/vb/showthread.php?s=&threadid=38777