actually, its not a test at all. your good results may be due to good money management, intuititive abilility, luck, or a combination. i have no idea. unfortunately, whenever TA is actually tested, it fails miserably with results no better than chance. this is a statistical fact, your personal results have no relevance for proper testing. sorry, surf
nice try. My performance is vastly greater than most retail traders. I use only TA and never look at any fundamentals or turn on any news/business shows. As an experiment, I traded 3 markets for 2 years using no price on the chart at all and the results were still just as good as having price on the chart. So why have price on the chart now? It's just a crutch and a comfort level.
i'm not doubting your performance and accept what you say as fact. my post was regarding testing of TA. please reread my post. you seem to have edited some parts out. do you trade woodies method with no price, or is this a method of your own creation? thanks, surf
Give it up MS. The practice of making general statements about general topics was thought to be cute in grade school, was corrected pleasantly in High School, was ridiculed in college and was summarily dismissed in graduate school. Some of the New TA has been tested in the trenches where the human fudge factor of manual manipulated statistical analysis isn't necessary. This is why your argument against TA holds as much water as Bush arguing that he understands service in the military. Neither one of you have any experience to be considered an authority on the subject. You don't understand TA. Your continued statements regarding the subject prove that. We don't understand your obsession with shorting every eMini DOW Top . . . we don't care. Take a lesson from us New TA'ers. Follow your own path and don't worry about the paths you have seen from a distance but refuse to explore up close. Your inexperience pointedly shows each time your make a crass statement regarding TA.
i am well versed in the TA field, once being both a practioner and even an associate member of the MTA. Please refer to my pre 2003 writings, in fact, while with biltmore capital ALL of my stock picks were technically driven. i am far from being inexperienced as your post states. i realized that once TA is scrutinized objectively there is no edge there. you keep stating newTA--- face it professor, this is simply a marketing angle for you. there is NO SUCH THING AS NEW TA. surf
I've read a lot of your pre-2003 Gann/Elliott wave posts and that is in no way shape or form close to modern consistent technical analysis. Those subjective discretionary methods would drive anyone nuts. It's no wonder you call ALL TA worthless if you think that is what TA is all about. Hey, my first degree was in culinary arts and I was a member of the USPCA (United States Personal Chefs Association) but that doesn't make me an expert on cooking. I haven't been a chef in 25 years but cook all of the time and a lot has changed since then. I have no problem admitting that I am behind the curve. I married a chef that is 100 times better than I ever was and I see things all the time that amazes me. Molecular gastronomy was unheard of 5 years ago but now restaurants are popping up in all major cities. I guess that is hocus pocus too. Technology has made great inroads since you abandoned TA 5 years ago. I know you will agree 2008 vehicles are a lot more advanced than the 2003 models. Cell phones have attained scary technological advances in the last 5 years and so have computers. So why is it so hard for you to admit that the same is possible for technical analysis. This is why I say that every time you enter this subject realm with your anti-TA hot air it only makes you look narrow minded. Marketing angle? Show me a post here on ET where I have solicited anyone. Every time you get backed into a corner you go to that lame statement. You best not travel that path. Hang it up and go on with whatever it is you currently subscribe to as a trading methodology and leave that which you have no clue about to those that are not technologically challenged and are open minded to realize that as technology progresses advances will be made to improve on consistency of the environment.
Thats how my schools trading floor looks like but instead of 3 screens on pcs we have two....we got little more tvs in there...and we have a huge board ..........where we have bunch of quotes on...gives it that nyse look....LOL
you still crack me up! you are sooo confused which is evident in this post. you seem to be alluding that "technical" analysis---somehow has something to do with technology. sorry, prof, there is no correlation other than TA being deceptively named. surf
. . . and the discussion progresses no where. Good luck with your eMini DOW short. Hopefully you aren't managing OPM.