baited and slammed lol #ownage You are seriously backpedaling here Surf. Feel free to respond. By calling the document 'ancient' - which it isn't are you suggesting now that the large banks stopped using TA recently. lol. Here is a quick reminder of what you said. I have given you cast iron proof that the large banks do use TA in trading decisions. Nobody here is saying they use it in all decisions. The bank traders trading off flow and market makers don't use it. In some cases they use it to frame trading ideas. For the record I am saying 95%+ of anything said about TA on forums etc. is rubbish. The small winning minority take from the rest. #owned
doji's and head+shoulders patterns, probably. Although they might all just use the DBPheonix style of trading
Ok, let s give a concrete example of a "basic" technical analysis. This morning, I looked at SXAP which is Stoxx 600 Automobiles & Parts. Everyone heard about VW's fall (-63%), and sector is already down -35%. With a "basic" RSI graph, you can notice a positive divergence between price and RSI. In term of price action, it means sellers are less strong compared to the intensity of fall. So after being short, I am long on a short term basis. Expected rebound : +10% / +20%. I will again short when buying power will decrease. Maybe I am right, maybe I am wrong, but without TA, for sure I would have done nothing. CM I
Because he gets a bit carried away, not because he's wrong! He gets carried away cause well he's right and your all so damn stupid it just gets annoying, I can relate! Going around and around in illogical circles, never listening cause you all think your so so so so smart, NO Smart people listen to other opinions!
Try not to take this the wrong way. But, you don't look at any fundamentals right? Not even news announcements? And you use moving averages and momentum analysis? How is that not TA?
lol, that is like asking hookers how they think people on high moral grounds think and live their lives. Are you sure taking what someone posted on "quora" or "forexfactory" seriously and as a fair representation of what the investment banking and hedge fund industry does? If any of the sell side banks keep a "chief technical strategist or analyst" around then it is to keep some of their more retarded clients happy. Nobody at any of the prop desks I ever worked at has consulted or asked a "technical analyst" to share their wisdom of "Ichimoku Clouds, Death Cross (or whatever its called), moving average crossovers or any of the gibberish that is traded in the part of the retail crowd that does not know better. Does anyone though look at price action in the professional space? Sure they do. No question, but none of them care look at things some in the retail crowd looks at things. Professionals may concern themselves with changes in correlations or dispersion. By the way, I do not consider some buy/sell button pushing monkeys at execution desks professionals. They may chat all day long with their clients how the 100 day MA was over or undershot. I would venture to claim that mentioning any technical analysis piece as major rational for a larger trade at any hedge fund's or sell-side bank's prop desk gets you fired sooner than later.
Cause it has simple logic and well works, rather than overly complicated, prediction based TA, correct I don't predict, get on the flow ( or atleast attempt ). Basically, anything prediction based is screwed. Markets are going up, join, markets have stalled, bail, KISS! I'm not an accountant, I don't understand the news or the fundementals, I've tried it never goes the way I expect it, so I stopped trying.
Hmmm Hookers, firstly!! If your selling a trade to a client, then your going to be talking about fundementals and likely hinting but never saying that your aware of something they aren't They get there commision for placing the order. Most of the time, the Stock they've invested in with chop around, it'll get to a profit point at some stage and they'll advise selling it, the client is happy, the commisions are paid and happy days. Unless, you sold someone on going long VW then maybe not for a long long time.