Need to practice my typing, so here we go. But that hasn't happened over the last 40 years. So I, and the old school TA I use, have stood the test of time!! How can you judge how well I know TA? By you. Not by everyone. bashatrader said: The old TA is out for good, failed and done. But you can certainly see from the chart I posted, or on practically any chart for that matter, that what you say is clearly not the case. That is, of course, if you can read charts.
http://www.priceactionlab.com/Blog/2016/09/data-science/ Somebody did a test on Numer.ai and this is what the result was: I named my file MLATION.csv. It ranked No. 168 out of 402 submissions. Therefore, a file with random predictions and with no data science (except some basic understanding of the log loss function) got a higher score than 58% of the world’s best data scientists employing complicated machine learning models. You can still find this test in the rankings, now on 195 position. I never take anything for granted from anybody without my own research and analysis. Thanks to that attitude I am were I am now.
All I know is I win about 3 out of 4, and most of those end up being day trades even though I am playing it like a swing trade. If I see a nice profit, I take it. Seems like more than half of my trades make money on the first day. No robots needed.
TA has nothing to see with wipe outs. Any trader who does not respect stops will be wiped out sooner or later.
i thought i would post this Q here as i did a search on multiple TFs Why does somebody need to look at trend on the higher TF when instead they can just put a longer MA on the TF that they trade on and see if that is rising or not? Thanks
TA works great on all time frames even the 7 second chart. The trick is to learn to use it to spot perversity in the markets because perversity is what the markets are all about. So look for evidence price has just forced people out and then look for strong evidence it's forcing people back in the other way (either from short covering (assume up move) or new buying). Also, it's excellent for judging the character of the price moves. Use that to be able to spot out of character moves as they always mean profitable trades will setup in the future. But like anything in the markets, using TA and overall trading is not easy. Trading is not an easy job, never has been and never will be.