Simple defense of technical analysis

Yet another TA works/doesn't work thread?

Takes all kinds of people to make a world

Takes all kinds of traders to make a market

If your successful with your tools, keep using them

If you are unsuccessful with your tools don't
[hint: it probably isn't the tools being used, but the Tool using them]

 

it works if you understand what you are watching which is namely, most people act the same way all the time.

But that was back when the stock market was being driven 100 shares at a time.

Now it is just me selling to you and you selling back to me.

We might as well just be betting on a coin toss and try to figure out who is the most deceptive liar.

oh well, it's something to do

 

TA works because science of Maths and Physics work.

 

see? that's what I am talking about. They forgot what it was they were technically analyzing.

 

this is one of the good advises on TA. btw, do not let word technical analysis scare anyone, no need to go real deep into it to feel confident and be successful.

 

Your point is moot. This has worked pretty well for Chuck Norris...

Schaefer

 

whatever, the orignal idea was to track the behavior of normal people.

but it got taken over by nerds and geeks

They can't relate to real people, and never could

They don't even know what they are analyzing

They think they are analyzing some trend line on a chart

Until they get back to analyzing people like you and me, they will always be losers

 

This makes no sense. TA isn't about analyzing individual traders, it's about analyzing aggregate trader behavior as manifested by price action and volume action.

If you don't know how to do that mathematically, just say so. But don't pretend like it can't be done; some traders are doing it quite well.

 

what did I say? I said exactly what you said.

otherwise, I don't do it and don't pretend to be or do anything.

but your misreading of my post is a good example of what is wrong with most technicians today

 

TA is just a tool,no different than the ones in the basement or garage,they don't work,You use them when You work, to make the job easier,the more familiar you are with a tool,the more adept you are at using it ,,, i 'm working on a way to teach the snowblower to know when it snows and go out and clear the snow on it's on....until then it's just a tool and i still have to do the work