how is looking at a chart which has bollinger bands and a moving average on it not stats. especially when you are comparing multiple instruments.
Here is how you defeat Marketskier: 1. You go on Amazon, search for "market wizzards". (if you don't own it) 2. You click search inside the book, search "technical analysis". 3. You quote the book: " The methods employed by the great traders are extraordinarily diverse. Some are pure fundamentalist; others use only technical analysis, and still others combine the two methodologist." http://www.amazon.co.uk/Stock-Marke...0597/ref=sr_1_7?ie=UTF8&qid=1357584700&sr=8-7 Now, was it that hard???? P.S.: I actually have the first 3, which one you guys want me more quote from?
You appear to ignore the part where I explained the difference. I'll try again just in case you missed it the first time. "I think you appear to be working with the definition that anything that has is computed from price is t/a. In that case, everything is t/a. But that's not how the rest of the world sees it. Statistical analysis is derived from some first principal model of reality (right or wrong). It differs from TA in that t/a's first principal is a tautological 'everything is in the price'. This is not the first principal of statistical analysis."
No one cares if you gave a mistaken reference. We all agree with you that if a person is not scientific he cannot get any results. The market provides raw data points. Jem is explaining a seires of near misses he has followed. I had been trading about 25 years before one of his examples began. You both are in the same boat and it is adrift on a surface. Neither of you know how boats that really work, work. You can't go anywhere in your boats. Probably I should give you an account with money in it and let you watch the money grow like looking at a gasoline pump filling a tank. Do you use a match to check if the tank is full?
There a interview on the web with paul tudor jones from about ten years ago: Q: Technical analysis Paul Tudor Jones: Made well over half the money that I've made in my lifetime. Q: Fundamental Analysis Paul Tudor Jones: Made the rest. Q: Are you better at one or the other? Paul Tudor Jones: Probably technical analysis.
this is very old information. the market has changed radically since these statements were made. There is so much hogwash out being recycled over and over its not even funny! Got any new information?
and turning charts upside down per the documentary___ LOL! ever wonder why he wanted that doc removed from the market, and bought all remaining copies at big $$$? no one really remembers his 1987 crash prediction, chart based, was off by quite a large amount of time...