I have seen around different understanding of what TA is. Do not know if there is a really authoritative definition. Some people tend to define it so amply that it embraces practically all is not FA. I have some doubt on this approach. I do base my algorithms on PA, but if someone told me I am using TA, I would be quite upset. ____________________ Tom My <a href="http://www.datatime.eu/public/gbot/2009Oct19/default.htm" target="_blank">auto trading</a> journal
TA used to work MUCH better than it does now, and this is a function of electronic algo trading. I'm not talking about small black box day traders, I am talking about very large (Goldman, etc) algo's. These algo's likely exploit common TA used by many traders to rape them. Back before the HFT electronic trading world came to mature, charts ruled the roost.
Yay! It's called "price action", which is considered part of technical analysis only in part because you incorporate patterns like Double-Top and Head-and-Shoulders. However, none of the squiggly gibberish. You know, things like stochastics and VWAP.
Correct imho. Being profitable has nothing to do with the capability of computing several indicators and plot them on a bitmap. There is nothing wrong liking and exercising in those charts and indicators. It's actually a nice and useful programming exercise. The problem resides in the belief that such activity can be useful somehow for trading. In other words, it's often the implicit assumption that a "prevision" or a decision can be made based on those, that yields most problems. Tom
It seems that there is a secret method of trading without charts that always works, but the answer is never given away in the threads. There's was a similar one over on forexfactory too. only a few members of the thousands registered ever seem to know and agree with each other but never let on what they are all talking about. I can only imagine that they're talking about some super powered algorhythms or something? http://www.trade2win.com/boards/forex-discussion/72058-trading-without-charts.html
Again, I IMPLORE you to tell me what the analysis is called if the term "TA" makes you that uncomfortable. My whole point was that TA is what you make of it and isn't so rigid as you describe. Like I said in another thread, as of now there is TA and FA. If you want to get the ball rolling to add a "new" category then go right ahead.
There are no secrets in trading. Everything has been explained and written about in books and discussed at length. There are no secret strategies. Its just like baseball. There are no secrets on how baseball is played. Everything about baseball is known and the games are palyed in front of millions of people. However, not everyone can be a baseball player. There are some people out there who if we placed in a 6 month training camp with the best trainers in the world...they might come out better at baseball then when they entered, but they might never make it to the Yankees. It just comes down to "can you do it". Some people can do it, some people cannot.