Surely there's a scale, with the right-brained "artist" trader at one extreme and the left-brained statistics oriented mathematician at the other. And in-between those who use mathematics to some degree. We can model everything we observe [in our universe] in terms of mathematics, so it should follow that TA can be expressed and mechanically implemented entirely mathematically. (Not saying it's easy.)
No, it is a good discussion. No-one has a monopoly on the truth. (i'm just taking a break from watching Brook's videos btw)
Yes, it can be implemented entirely mechanically but when it is, it fails miserably. To me this means the premise is fatally flawed. surf
Correct, and the guess is based on a probability that you backtested for proven positive expectancy. Obviously, your lack of neurons might prevent you from understanding such simple term.
But your backtesting is inherently flawed in multiple ways. First , the assumption of steady state repeating patterns is a myth. Secondly, you don't use enough data to make valid probability ascessments and thirdly the markets are constantly changing so what was will likely not happen again among other reasons. Sorry to rain on your parade but dats a fact jack.
My forward testing and past live performance nullifies your beliefs, but I'm not here to convince you, only to ridicule you.
I don't use TA in the standard sense but it is useful to me. As with most methods the majority of traders lose money. TA can be a powerful tool because if you know a subset of traders will take trades based on TA setups that gives you a lot of information. The market makers obviously know this and price moves to liquidity where they get their inventory flat. Maybe a small % of TA traders are profitable, I have never met one though whilst I have met profitable traders who use other methods like market profile & fundamentals. Typically I look to get out of a trade where technical traders place their stops then reverse. See attached chart of dealer inventory as the life cycle of the market repeats and repeats. GL
Anonymous posters who are full of chest beating tarzan like yet purely anecdotal evidence cannot ridicule me or anyone --- let's see your evidence--and identity. unless you live in your mother's basement as i suspect.
Sure. Some TA guys may be profitable due to intuition, money management, and hard earned skill. But this is not science and cant be quantified. Plus all the evidence of such is purely anecdotal. See the autod post above for the typical response that gives these phony guys away instantly. surf