Car = technology... a machine... TA = interpretation... the way you would with a sign... You "read" TA but you operate "drive" a car... I think they're in different categories.... There are defined patterns to TA... You can pick them up from most TA books... So the definitions are already there for you... Why do you think that I didn't interpret the "cup and handle" correctly...? If you look at the chart above... there's now a "bear flag" forming on the USDJPY... It's a bearish sign... How do you interpret it...?
You missed the point....I was referring to MECHANICAL stops....like the Chandlier stop, etc. Every position needs to be evaluated for volatility, key price points, price action, as well as your remaining open capital. Also, what type of stop to use is critical. For instance in some trades a trailing stop really sucks, in others, it's perfect. I think it's really difficult to embody all of that into software.
I never said you didn't interpret it correctly. I asked what makes you think you interpret them correctly? Looks like the answer is "looked in the books", right?
Thanks. Now where I am going with this: Let's suppose you read a book on karate. Tricks are shown in color pictures, very clear and in details. You read it. Does it make you karate master immediately as you start to practice those tricks with your sparring partner the next day after reading the book?
Did you consider the fact that "doesn't work" and "doesn't work some of the time" are two different concepts? Or how about the fact that your definition of "work" and a professional trader's definition of "work" are quite different. TA is a tool and risk management is a tool. You can't turn a pile wood into a solid shelter with just a pile of nails and no hammer or with just a hammer and no nails. And the shelter isn't all that sound without a solid foundation holding it in place; it will blow away in the next big storm. The trader's foundation is based on study and planning for how to identify technical patterns and how to determine when they've failed in your chosen time frame. TA doesn't work without risk management (where to stop being in a position). It absolutely doesn't matter if some cup and handle patterns fail to produce enough price momentum to hit your desired profit target because if you're able to interpret the pattern, you know where to stop holding your position; you know the definition of "pattern failure" in your time frame. Do you guys really expect particular patterns or indicators to produce your personal desired outcome magically 100% of the time in order to admit this one tool works?
You and NoDoji are hustlers... Typical answer from the peddlers... My crap works, you just haven't mastered it...! Between marketsurfer and myself we have more market experience than all you guys combined... We've told you... That crap doesn't work. You think I'm not a TA "master"..? Oh please... Spare us that crap.
BS that doesn't mean anything... I can't make a trade off of this crap... Here I was thinking that you guys were going to elighten us... BUT.. NO... Just more nonsense and incoherent babbling with useless analogies...