Think any of these had phd's..., quants..., even scientists http://hf-implode.com/ How about lehman..., or the HF who lost nearly all their profits in crude recently -------------------------------- That the beauty of the mkt..., and trading Doesn't matter how many letters one has after their name..., or even if they do Doesn't matter if one male.., female... black..., white..., red..., yellow.., brown.., young..., or old Mkt and trading is the great equalizer - none of us know..., none us ever know And it not about what we know.., or don't know - anyway It only about how we preform - each and every trade..., each and every day - period RN
People have made fortunes and published books on exactly what they do every day to make said money! Linda Raschke isn't serious enough for you?
She's verified and so is her fund. Doesn't really matter to the bashers...she's just another person they want to ignore. And yeah, she still trades (present tense).
She's got more balls than these assholes vulturing over their keyboards saying "TA is shit and all you TA people are losers". I love that part about the PhD morons that tested everything and it doesn't work. Always go with the PhD's? They are the keepers of the Conventional Wisdom and not a hell of a lot more sometimes. Guys that made too much money with TA have been dragged into investigations by the Feds! Don't be too smart, makes the PhD's look stupid, gives the politicians a shot at you...
https://en.wikipedia.org/wiki/Random_walk_hypothesis Jules Regnault published a book on the concept in 1863 and then the french guy (a mathematician) named Louis Bachelier did his PhD dissertation called "The Therory of Speculation" in 1900... There are copies of Regnault book at several bibliothèque in France and in Canada. I've had the chance to read one of the copies. Very amazing thinking mind and made himself very wealthy from his views about the markets. https://archive.org/details/calculdeschances00regn Years back I was trying to find a private collector of rare books that included this particular book because they are signed (rumor to have been 50 copies)...so far...just the bibliothèque has copies and the book isn't allowed outside the special viewing room. Hopefully one day I'll find a private collector that has this signed book and is willing to sell it. P.S. He made line charts
%% You may be right; IBD uses 200 day moving average, sometimes.LOL When they omit that 200 dma; i may use 200 day price.That can be wise but NOT a prediction.
Amazing, Marketsurfer is banned Fon is created Fon continues to bash TA Marketsurfer is unbanned Fon is no longer... All reference to Fon is expunged I truly believe Marketsurfer should be MarketingSurfer It was obvious Marketsurfer was Fon, aka a multi-alias troll Oh the hypocrisy...
So true. It's a very naive and gullible approach to be memorizing patterns and trading from the hip based on instinct, memory (with all it's faults) and gut feel. Perhaps a very small percentage may be able to accomplish something interesting with such an approach after thousands of hours of screen time and practice, but most people will only be setting themselves up for failure. Yes, patterns do exists. Every day. But in order to recognize and capitalize on them consistently and successfully, you need to quantify your market. Just look at a pattern that everyone knows. The H&S pattern. The truth is that this can just as often be a continuation pattern UP as it is a sell pattern DOWN. How would an intuitive trader know the difference? EDIT: I should add that my comment is geared towards day trading the market. Over a longer time frame you have much more time and clarity of thought for making a decision, but the same principle generally applies, although not to the same degree. IMO.
I hope you realize that before you can quantify a pattern...you need to learn it, memorize it and then design a code for it. Further, if you're going to code it...you can then automate it or make some kind'uv mechanical alert system that its been identified and you then manually trade it. Reality, traders that memorize and learn their pattern...they are not trading from the hip. In contrast, traders that don't understand the pattern and don't memorize it and then they decide to trade that pattern...they are trading from the hip on instinct. The latter reminds me of that thread here at ET about the "dragon pattern" in which the thread starter states at that time of the thread that he had just learned it a few weeks ago and was now trading it with real money and he couldn't figure out what it was that he was doing wrong. My point is that you seem to forget there's a large group of traders in between the two groups that you mentioned...traders not automated and traders not gullible to trade from the hip. That involves trades that uses rules and have memorized their pattern...traders that have developed the ability to recognize it in real time and develop the ability to react (make trade decisions) based upon accurately identifying that pattern...while they choose to trade it manually instead of automating. You mentioned H&S pattern. The truth is that some traders do not view such as one directional (Up or Down). Those are the naive traders that trade such and view it as such. In contrast, some traders see what's called a Bearish H&S pattern and they don't view it as bearish...as if they should only be looking for Short signals. Instead, they are looking for Long and Short opportunities within that Bearish H&S pattern and they are looking for Long and Short opportunities within that Bullish H&S pattern. Thus, as you stated...if you know the truth about that pattern...what prevents you from trading it as such instead of getting caught up with its "name" ? (question is not actually directed to you). The real failure as in most traders...its not the pattern. Its the trader that has failed to understand the markets and themselves as traders interacting with the markets prior to the appearance of any pattern or trade signal. These are the same traders that do not understand that successful trading involves many things beyond trade signals.