Well, whatever works for you is fine. I trade momentum and it does good for me. So I'll just keep making money using something that doesn't work. (pssst Please don't tell my trading account that I am using TA, it has no idea where the money is coming from and I don't want to ruin a good thing) Good luck in your endeavors. Curious though, what method do you use? Also, on what time frame?
You've made my point precisely. Everyone else's research is consistent with your "feelings". Everyone else's research was done a good while back. Everyone else's research didn't encompass any new data. And finally . . . you have done no research or study of your own to be able to come to your OWN conclusions. Your opinions are simple borrowed from someone else. Likewise . . . Good luck in all you do.
RCan you think all daytraders trade off fundamentals?? I would like to hear you thoughts of how successful daytraders trade? I have 6+ years of six figure income from daytrading and I know zilch about fundamentals. How am I able to daytrade?
Great, then post your broker statements, Otherwise, anecdotal testimonies are not proof of TA efficacy.
I used to post my daily P&L here for 2005 and 2006. Below is a link to the 2006 P&L thread. I posted there from Jan-mid Nov 2006 everyday. I trade 100% off technical analysis (my own recipe), I dont use any fundamentals in my trading decision making. If you care to go through the entire link you can see my P&L. I started posting screen shots when I learned how in February. Perhaps this will shine a little light on whether people can make money using technical analysis. For the year I made 230K. I know this is not a fortune but the consistency through which I was able to make this shows that there is value in TA if learned properly. http://www.elitetrader.com/vb/showthread.php?s=&threadid=61514&highlight=trader+P/L+2006
What reason do I have to lie to you?!?!?!? My broker statements are my business pal, take a hike. If you dont believe me, really I could give a rats ass. If you want to stay in the dark, stay there!
did you choose to ignore steve's P&L link in which he attributes his success to TA? Are those numbers not real enough for you pal?
(Speee.....Rcanfiel----Let it go bro. You're in a losing trade. If you can't make TA work, let others make their own decisions.)