There are an infinite number of different ways to manipulate price and/or volume data to form technical indicators. The idea that any academic study looking at a necessarily tiny, tiny subset of the infinite number of indicators can reasonably conclude that "TA doesn't work" is laughably ridiculous on its face. The TA that is known to work is rare and undisclosed to the public. Nobody is going to just hand it to you ... unless he's your dad or you saved his life or something similar. Looking for TA that works on this website is a fool's errand. You'll have to do your homework if you want TA to work for you.
Finding, combining, adapting and backtesting reliable indicators is the easier job. Trusting them in practice and using them is the hard thing. Always hesitating and being afraid of losses leads to missing profit opportunities. But if in practice you still make half of the theoretical profits, you are on the winner's side. Felix
You'll put elitetrader out of business with posts like that!! lol That's why everyone is here everyday posting away! But yeah. Maybe the secret indicators or secret settings for indicators can't be mentioned for fear of duluting the edge.
As my previous post demonstrates, I was wrong. There is some disclosed TA that works. Why naysayers are busy ignoring it is a mystery. Must be psychological.
We're really still doing this? The ones attacking TA are fundamentalists or quants who are a bunch of naysayers because they obviously suck at TA. TA and price action does present an edge especially when combined with other phenomena. Point being just because they suck at using it to make consistent profits doesn't mean we all do.
There's only a few circumstances where it's logical to not trust a strategy. Improper or non existent testing. Inverted risk:reward ratio. Martingale strategies. If there are others I'ld like to know what they are??? If the testing used walk forward windows and the logic behind the concept is sound then I fail to see how so many traders can claim even counter intuitive trade setups could cause doubt.
Incorrect, if you define a strategy as following price-action setups. Al Brooks writes that even the best setups can fail ~40% of the time if I recall correctly.