On the fundamentalism of PA traders

Discussion in 'Technical Analysis' started by Smurfie, Nov 15, 2008.

  1. ammo

    ammo

    just as important is an understanding of your own weaknesses and how they afffect your trading, i.e. fear,greed, doubt ,overconfidence,impulsive trading ,laziness,overindulgence,committment...etc...
     
    #11     Nov 15, 2008
  2. Interesting that you should point this out ammo.
    In another time, in another age, this would not be necessary.

    regards
    f9
     
    #12     Nov 15, 2008
  3. Sure. If you just went long, and over the next two or three bars you see decreasing volume, post a sticky note on the screen that says "I'm probably on the wrong side of the market". :D
     
    #13     Nov 15, 2008
  4. Lucrum

    Lucrum

    What he said.

    I often poo poo on indicators BUT have also conceded their are successful traders using them.

    I just personally don't think they "need" them as much as they think they do.

    Ultimately all I really care about is MY bottom line.
     
    #14     Nov 15, 2008
  5. Now there is food for thought AT.

    regards
    f9
     
    #15     Nov 15, 2008
  6. But, if you're really good, and entered long sooner, you would EXPECT to see decreasing volume. See how fun this volume stuff is?
     
    #16     Nov 15, 2008
  7. Smurfie

    Smurfie

    Mmmmm ... huh?
     
    #17     Nov 15, 2008
  8. vingbel

    vingbel

    Hey Anek,

    Have you moved back to time based bars rather than volume based bars? A combination thereof?
     
    #18     Nov 15, 2008
  9. Smurfie

    Smurfie

    I found your post really interesting Fearless9. I've argued vehemently elsewhere that there's little reason to chase around after the Awesomest Oscillator Ever and you'd be better served by learning how basic indicators are constructed so you know what they will do and not do in various market conditions; basically so you can read them. I also think that's where the difference between PA and oscillator based approaches begin to disolve.

    Smurf
     
    #19     Nov 15, 2008
  10. Smurfie,

    Western lifestyle is deliberately constructed to give the middle class a sense of achievement, when in fact it has been the rising tide of credit which lifted the boats.
    Now of course the plug has been pulled and individuals are moaning as their net worth disappears.

    Whether traders use indicators is as individual as their choice of underwear or indeed the decision to wear any at all.

    It is nobodies business except their own and of course their partners.

    But people lose sight of the big picture (if indeed they every had it) which means they miss the details that matter completely and become absorbed in the trivia.

    regards
    f9
     
    #20     Nov 15, 2008