I don't have a dog in the fight as to whether there's something or nothing to TA, but wtf??? Are you TA devotees so insecure that you can't tolerate reading someone else's view that TA is trash? If you are, that may be a warning sign. If not, who cares. It's just another opinion, right? The author of the article isn't a journalist. He does manage money. John Train, a New York-based investment advisor and author, was born in 1928 and attended Groton School and Harvard University. In 1953 Train co-founded and became the first managing editor of The Paris Review, whose publisher was Prince Sadruddin Aga Khan. The Paris Review won attention by publishing extended interviews with such noted authors as Ernest Hemingway and William Faulkner. In 1959 he founded the New York money management firm now known as Train, Babcock Advisors. He is chairman of the Montrose Group, investment advisors and tax accountants, and is a director of a number of emerging markets mutual funds. He is the founder and chairman of the Train Foundation, which funds the Civil Courage Prize.... ...Train has written numerous columns in the Wall Street Journal, Forbes, London's Financial Times, and other publications. Also, over 20 books, translated into 15 languages, including: * Money Masters of Our Time (HarperCollins) * Investing and Managing Trusts Under the New Prudent Investor Rule: A Guide for Trustees, Investment Advisors, & Lawyers (Harvard) * The Craft of Investing (HarperCollins) * The Midas Touch: The Strategies That Have Made Warren Buffett 'America's Preeminent Investor' (HarperCollins) * Dance of the Money Bees: A Professional Speaks Frankly on Investing (HarperCollins) * The Olive: Tree of Civilization (Scala) * The Orange: Golden Joy (MT Train Books)
Then I would probably bet actual dollars he has tried to use TA and he failed. TA working is not something that I really care to argue either, mainly because its a waste of breath. To be honest I dont even know why for it works for me or care. People argue even what TA really is. Is it emotions? Is it charting? Is it indicators? Or is it just proper MM? Who cares??? If it works for you do it. It will require work and effort but it will work if you are open to changing the way you think and assess risk correctly. By reading what he said I can tell he is an impatient person who is very cocky and likes to state his opinion. To me that is a formula that = disaster in trading. Trading with fundamentals was the right step for him and I'm happy he succeeded with it. But you also have to realize that in this game we all know of the traders, CFAs, and Money managers that made it using TA. Why would someone want to discredit them? What would be the reasoning for it? My guess....insecurity.
totally wrong! care to elaborate on what TA increases odds of success and by what percent? don't even try as its impossible! If TA put the odds in your favor this could be easily shown via math and testing. however, it cant be. odds in your favor, what a delusion! Here comes the CHURCH OF TA to defend its FAITH-- listen to the hypnotic preacher words that are soon to follow this heritics post. TEST IT AND PROVE IT OR STFU HLJ
Good idea, ask JIM ROGERS what he thinks of TA! He one of the few wizards left! ALL of those TA guys have renounced TA or BLOWN OUT. next please.
Jones, Dennis, Gann, Cohen, Cook. ALL COMPLETE FAILURES!!!!!! YOU WIN JOKER!!! AWESOME ARTICLE BTW, GLAD WE HAVE SUCH AN IMPORTANT PRESENCE WITH US!!! jk man! Keep on truckin! One day it my come to you.
I really don't know if TA is credible or not. I don't feel comfortable with it, which means nothing in the broader context. I've two of the best books on TA, including one by Schwager, and have seen too many exceptions to TA indicators to have it settle in. Like I said, that doesn't nullify the odds of repeating patterns, and high percentages at that. Oddly enough, when TA experts talk about why charts move the way they do, and then tie it to the movement, the 'why' makes sense - I can see the exhaustion selling and exhaustion buying in my mind. If any thread generates controversy and that leads to people learning or re-examining what they thought they believed, more power to us all.
Technical analysis is a windsock, not a crystal ball. Be prepared to adjust your tactics and strategy if conditions change.