Perfect TA...

Discussion in 'Technical Analysis' started by UM_manager, Dec 12, 2005.

  1. bwc

    bwc

    Damn! that's interesting. What was seemingly the start of an intense flame war (again on ET) actually turned out to have a humble and admitting response by one of the poster. Although I don't have over 10 years of trading experience, but should I say that admitting you're 'wrong' after having made an assumption is a character of an experience trader. I tip MY hat to you. :)
     
    #41     Dec 19, 2005
  2. hcour

    hcour Guest

    Surf,

    The internet has changed a great many things, including, indeed, the access to TA and its principles. It has also done the same w/gardening, buying a used car, and forecasting the weather. Yet there are folks, even with all this easily available knowledge, who still have brown thumbs, who buy lemons that break down in a few months, and who go to work w/o an umbrella despite nasty clouds on the horizon. Just because there is information out there doesn't mean people will know how to use it. I think the most successful practioners of TA would tell you that attaining knowledge is only part of the process, that what separates the men from the boys is the same as w/most any endeavor, which is adapting that common knowledge to a unique perspective, a personal style, which works because it is both universal to the market and specific to the trader.

    As for indicators, I can only say you're as misinformed as those you ridicule for abusing them. The first TA that I know of came w/Japanese Candlestick charting in the 1600's, which was meant to decipher supply-and-demand, the inevitable and immutable force that drives every auction market. They had no bottom-pane indicators at the time. This interpretation of the supply/demand dynamic was later expanded on by Wyckoff and others in the early part of the last century. They also didn't use any indicators, in fact most of them disdained them. Indicators are relatively new to TA. But if one realizes they are secondary interpretations of supply and demand and if one has incorporated them successfully into a trading plan, who am I to argue? I belong to the church of whatever works for you.

    There is no quick fix to interpreting the chaotic market, no, but there is Perspective. Good TA adheres to the laws of supply and demand, the driving force of all markets, which gives one a framework to make an analysis, to achieve a particular point of view, something a trader must have.

    H
     
    #42     Dec 19, 2005
  3. i do not ridicule anyone for using any method of trading.

    however, i do have issues with those who sell "holy grail" type teachings--- and--- as you can see from mr. dow's comments---they have issues with me since they cant stand being questioned.

    we all can look forward to the test results promised by mr. dow in the near future.

    good luck!

    surfer
     
    #43     Dec 19, 2005
  4. MAESTRO

    MAESTRO

    That is what got me going too: - the very title of this thread "Perfect TA" in other words - "Holy Grail". I do too hate these kind of claims!
    Cheers
     
    #44     Dec 19, 2005
  5. Guys, guys....

    you seem to be having monday morning pms...

    but don't worry help is on the way. Sometime in the near future I will start a journal were I will be posting trades. These trades will have a 100% chance of being profitable every single time.... :)

    Can't wait !
     
    #45     Dec 19, 2005
  6. You ask sarcastic questions and when you get straight forward answers, since you can't understand the environment of modern TA, your comebacks are always sarcastic. I don't have a problem with answering questions from intelligent openminded individuals just from the sarcastic narrowminded ones. The only issue I have is your constant uninformed statements regarding things you have no first hand information about. You are not in any way shape or form an expert in modern TA so stop putting yourself out there like you are. Even your opinions are outdated and irrelevant as they pertain to modern TA methods. You might have a passing familiarity with old TA methods but your comments show a true lack of substance to anything new. Stick to making comments on areas you are familiar with . . . whatever that may be.
     
    #46     Dec 19, 2005
  7. It's got to be like being in a room with 20 Ph.D.'s in physics and you're the only Ph.D. in biology huh? Frustrating not being able to join in the conversations even though you know you are as smart as they are so you show a certain level of destain toward them to make youself feel better about being there.
     
    #47     Dec 19, 2005
  8. This thread appears to attract the nutjobs like flies to a rib roast.
     
    #48     Dec 19, 2005
  9. Greetings, guys! If I knew beforehand the development of this discussion I would name this thread " TA vs. " But vs. what?
    Title "Perfect TA" means that the method I presented at the beginning realizes one of TA postulates in a perfect (imho) way.
    So, after deleting of all direct links we can discuss the method without accusation of advertising and sarcasm.
     
    #49     Dec 20, 2005
  10. azmi

    azmi

    cant help but noticing...for people who are always blasting TA is a useless tool - and are always asking to name successful TA traders...they sure as hell know alot about technical indicators

    my rationale regarding TA is simple..it isnt useless because since everyone is looking at the same charts as you, a support level will become a support level simply because everyone else seems to think this is the level where price will rebound...including the institutions

    sometimes support and resistance levels blow because flows are too significant..so price moves to the next support/resistance level.

    anyone who is an institutional trader would probably testify to this...retail traders have limited understanding (which is nothing against them - just a matter of exposure)..but i am sure alot of people who trade retail would have a completely different perspective of the market once they sat at a slightly larger institutional desk

    on a lighter note - citibank fired their entire TA team a few weeks ago - they are moving more toward fundamentals research so i guess thats a big HURRAY for anti-techies
     
    #50     Dec 21, 2005