Surf is a failed TA trader in his own words. Most that have failed at it will say that it simply doesn't work and then will back their statements with publications of other failed TA traders. Of course, TA on its own is not too worthy, pair it with money management and it can if one is willing to dedicate the time learning the skill. Price Drivers without money management would fail, definitely will. Trading is very similar to lending capital to entrepreneurs, some will fail, some will make it. MONEY MANAGEMENET
How does a chart show you where larger traders are likely positioned and if it did, how does it tell you what they will do next?? This all sounds good and attracts the noobs, but in real life its useless.
Surf posts about inconsistencies of TA methods, yet his own method has registered a success rate of 61%, which proves that his method (whatever it may be based on) is not overly consistent.
Since you trade stocks, comparing performance to an index is appropriate. Have you beaten the S&P500? If you copied David Goodboy's ratings since 2012 and opened each position for the duration of 1 Year , then61% of your transactions would have been profitable with an average return of +7.6%.
Well congrats on that...but may i ask what the point is of trading stocks if you can't beat the S&P500?
These types of threads are such a waste of time. The little dialogue that somehow manages to take place is mostly drowned out by boorish posturing. When you take the time to think about it, regardless of your position in the matter and provided that it is serving you well, shouldn't you be thankful that other people disagree with you? What happens when everyone is in alignment in the markets? And why is this thread in the Psychology forum?
There are many ways to skin a cat. No need to put down one method just because it doesn't work for you. I reckon there are many different methods that work in all kinds of markets. One has to find a method that suits one's temperament and circumstances. I would think that most really successful traders would not feel the urge to visit forums like this and advertise their success.