How can you even claim that technicals matter?

Discussion in 'Technical Analysis' started by farmerjohn1324, Jan 30, 2020.

  1. What's the #1 thing moving markets lately? Coronavirus.

    Is there any way to have predicted that? Of course not.

    And before that, it was Iran.
     
  2. tomtr27

    tomtr27

    The traders move the markets, and that acyclically .... That's why technical analysis works with money management. Traders have different opinions you see up and down all day again and again haha ...... lol
     
    murray t turtle likes this.
  3. Exted

    Exted

    Technicals can't forecast what's next, but can tell you where we are now
     
    MACD likes this.
  4. themickey

    themickey

    So you trade from fundamentals only? Like media news and stock announcements and revenue data etc?
    Never consult a chart or stock price data?
     
  5. I don't trade at all because I can't predict it. In fact, I have no reason to believe that my "guesses" are any better odds than 50%.

    Media, news, earnings releases are all "after the fact," anyway. I would just be following the herd.
     
    MACD and murray t turtle like this.
  6. themickey

    themickey

    Predicting is what noobs attempt. Forget that method.
    Depending on the instrument you trade, do the homework on it, and then some more, then place your bet.
    Determine at the time you place your bet what you will do and when if wrong.
    If you are wrong jettison as per plan.
    Like a ratchet, 1 move in one direction and a tiny move back, rinse and repeat.
    You can be 50% wrong and still make good money, depending on your bank (trading capital).
     
    birdman, NQurious and SimpleMeLike like this.
  7. But I don't even know how to make a bet that I could honestly tell myself is >50% odds anyway.

    Why not just play roulette?
     
  8. danielc1

    danielc1

    You do not have to predict anything to be a trader that makes money. In fact, the need to predict the outcome and being right are some of the biggest obstacles to overcome for most traders
     
  9. Let's say I pick the S&P e-mini.

    Whether I choose to go short or long, I'm making a prediction. Do you disagree with that? And why?
     
  10. danielc1

    danielc1

    You also do not need more then 50% odds. You just have greater winners then losers
     
    #10     Jan 30, 2020