I don't have the intention to start discussing with idiots, so any response from me is useless. The difference in knowledge about profitable trading between you and me is apparently huge, so I cannot learn anything from you. And I don't want to make you smarter. So it ends here. Don't want to waste more time on it.
you know nothing about me yet judge my profitability? What information or metrics could you possibly have to make such assessment? Why is this website full of wannabees who only resort to personal attack then their world is questioned? I wished ET would introduce a pay model, I am sure it would wash out 95% of the crowd.
Providing examples to someone like you is useless, as the standard comeback is that 'it only works in hindsight'. And even if someone would give you 1000 examples, you would say only the ones that worked are shown. Your problem is that you lack the basic understanding of what TA is all about, and simply state that this and that tool doesn't work. When someone who has more years of experience in something than you have had years on this planet gives you the advice you asked for, and recommends that you look into something that has been around for over 100 years, ignoring such lacks common sense, and is down right rude. If someone gave me valuable advice, I would kiss his ass in the middle of Times Square and give him 10 minutes to draw a crowd.
I am laughing, so, why don't you find 2-3 setups that you find "rock-solid" in terms of TA assisting you to get into trades, post them here right now, and we shall see how they will perform. Use whatever TA technique you choose to use and post a few setups. You would instantaneously shut up all the naysayers. You and your friends keep on saying that they are not interested in convincing us, but hey, why are some of you then bitching about anyone who criticizes TA as if there is no tomorrow? If you don't care why do you mind others who disagree with you? Apparently you mind a lot but are at the same time too chicken to be put to the test.
That's it, plain and simple. How you make the past and present market data work for you is another matter and entirely up to you. But using it to time your trades is TA at its core. Just because some people use questionable indicators or Rorschach patterns such H&S, diamonds, wedges -- or wedgies in marketsurfer's case, does not invalidate the basic premise. If one person uses a method based on extensive research and testing, the premise is not invalidated simply because another guy uses the same available basic data with interplanetary line of support to arrive at his decisions. (And you just know there are people out there using interplanetary lines of support.) Read the articles on the Japanese trader posted a while back: https://www.bloomberg.com/news/arti...-panicked-japanese-day-trader-made-34-million CIS said he has no idea whether or not China is going to drag down the global economy. He doesn’t even care. When he trades, he tracks volumes and price moves to follow the momentum. For him the basic rule is: “Buy stocks that are being bought, and sell stocks that are being sold.” https://www.bloomberg.com/news/arti...-moving-japan-made-more-than-1-million-trades He found success after a friend gave him a piece of advice: Forget the fundamentals. CIS doesn’t subscribe to the Nikkei or any other newspaper. Nor does he scrutinize earnings reports or parse central bank statements or spend much time looking at moving averages or other price chart patterns normally associated with technical trading. One Rule Instead, he keeps his ears open in chat rooms and his eyes glued to bid-ask screens, on which he monitors the market’s appetite for its 300 most heavily traded stocks. If there’s one basic principle, he says—repeatedly and slowly, as if instructing a child—it is this: “Buy stocks that are being bought, and sell stocks that are being sold.”
Faatshit now has the links and a few names posted in this thread along with some general information about changes in the professional industry for TA/Chartist. I remember doing the same research +20 years ago although I eventually made the decision to not work for some firm like my old man and a few close relatives decided to do. A lot of things have changed but these strange job titles in the current market environment tells me what some firms are doing with the exact same employees when they give them new job titles to make the position sound more important or more specific or the employee obtained a new degree while working for the same firm... The latter was true for my old man before he moved on to the FED. Regardless, the biggest change I saw as noted was changing someone's job title from "technical analyst" to "technical analyst/quantitative researcher" and then letting them have their very own "quant team"...essentially the TA guy now is the boss. That implies the person obtained a new skill or had used TA to get his/her foot in the door and then waited all those years for a position to open up as a quant when one wasn't originally available. By the way, you're dead on about their lack of understanding and knowledge. Actually its scary...it comes across as that they are intentionally doing this. There's countless of threads at this forum where a TA person has defined with words and/or pictures the exact nature of his/her TA. For this Zz character to pretend the TA people have not done it only shows his arguing nature. Heck he debated with me and wanted me to play the name game with him when I had already named a specific individual and the person firm and the person's strange job title along with giving a brief summary of the job title when the guy first started to what he is now known today. In addition, I posted links that he could have easily clicked on or do his own further research. For example, you posted the MTA symposium link. I know that link very well but something has recently change for the MTA. The "profiles" that talked about their career backgrounds are no longer valid. Yet, it doesn't take much effort for me to highlight someone's name to look them up on linkedin or some other website to obtain info about their career's and job titles. My guess is that the Zz character has the habit of psssing off people and then he starts asking questions instead of getting off his lazy butt to do his own research...he then pretend he can't figure out why nobody replies to any of his questions. Regardless, lots of folks use TA and then play the "I don't use it to make decisions". That's surf's famous statement along with statements by three other notorious anti-TA people. Well then, why do they waste their time opening charts...why can't they make a decision to never open a chart...to never make an analysis and be done with it. I've tested a few anti-TA folks on their belief that charts are not needed...they couldn't do it. Guess what...they then say "chart analysis" is NOT technical analysis. Don't misunderstand, I've had my battles with pro-TA people too...especially the ones that preach that "price moving averages" is not technical analysis (e.g. NoDoji, Al Brooks). Yeah...whatever. Time for another "coming out" party for these folks...too much hypocrisy. This year the family is celebrating the XMAS holidays at my home...flying in from around the world due to my recent illness. I think some want to really see that I'm still alive after I was in a coma for so long...expecting lots of talking down to from the professionals. Merry Xmas and good health to all...surf got that right.
This thread has simply become sad. Keep on deluding yourselves TAers-- the stats speak for themselves ( u are struggling) and others and I have tried to tell you the truth-- so keep clinging and losing. Im out of here. Hamp
And then he was swept away by his Price Drivers and never seen or heard from again. The rain clouds disappeared, the harvest was a bumper crop, and the local factory finally started turning a profit. Even the mayor's hair grew back. And the sun was shining again. The townspeople rejoiced.