Charts Patterns are not correct

Is this the PBS documentary on LTCM?

 

One of the best posts I've seen on these boards.

Of course it goes largely unnoticed, which tells you everything you need to know.

 

Yes it is.

 

Yes, real time before the fact, days before sometimes.

 

Were you sourcing it as a positive trading approach?

 

RCG stated the movie was an example of a succesful chartist.

Truly a bizarre and completely spurious correlation.

 

Geez, no wonder u struggle. Not the movie son, the trader at the beginning who traded upstairs, he used charts, and it was displayed as such.

Surf there are days when I think you u r being obtuse on purpose.

And LTCM was right insomuch as their mean reversion strategies, but options require timing. No chart, and you have no idea of when the bough breaks, so the cradle falls, right on top of ur little pointy head

 

Because a competent chartist will never trade noise, that is why.

 

=======================
Lig;
Found the following most helpful.

Record your own data[lots of it];
especially in two or few markets , may prove helpful. I consider wrong price data, or wrong volume data more serious errors than a lack of a ''reversal candle''/noise.

Note, now, if you had recorded [years/decades/written it , yourself]hi/low/open /close especially/especially close;...................................................
reguardless of ''candlechart reversal '', you solved that problem.

I am not saying volume is absolutely necessary in any market;
but as far as probabilities[not exactly prediction];
I saw no candlechart reversal in Southern lake/riverfront property. Sure long term its still up;
but medium trend is down/bearish, shorter trends are down.

But the volume, combined with dropping bid/ask,
combined with much data,[my decades of data, thier data]
showed a tidal wave of waterfront sales[a ''flood one '' dealer called it] proved helpful.

 

This is another classic misunderstanding.

In reality it's all a pure chartist has. All is noise, noise is all.

See investopedia below, or believe the various chart art guru types made up definitions---your choice


<b>Most people are considered to be noise traders, as very few actually make investment decisions solely using fundamental analysis. Furthermore, technical analysis is considered to be a part of noise trading because the data is unrelated to the fundamentals of a company.</b>