TA - Objective or Psychological Skill?

Just in case



RN

 

Life is full of misconceptions that others hold to be true.

My second ex once claimed she was the best lay on the planet. What made you decide that I asked coyly, she proudly said " guys always came back for more" That explains it, I proclaimed. That story told to some other bimbos can get a guy laid....

ELITE TRADER actually has the same story to tell: The losers all know why everyone else loses because they have "been there, done that" The winners all claim they know how to win or at least know many other winners to back up their story.

I worry about as much about HFT as I do if a chicks hair color has anything to do with how many guys she can entice to "come back for more"

 

Yea, I didn't mean to say you were complaining. Just saw so many whining Internet traders who blame HFT, brokers, whatever on their inability to generate alpha and it's obvious problem is not those reasons, the main factor of profitability is trader him/herself.

 

Ah in this case maybe that's true. But I hardly understand why would one ever use hard stop-losses in long-term investments without much leverage involved...

 

"Technical Analysis was very helpful in the negative way. I didn’t believe it. The book [on Technical Analysis] convinced me that technical analysis was a road not to go down. In that sense, it saved me a lot of time.”

Ed Thorp,

(the greaters trader of all time)

 

Amen.. TA is decietful, and extremely seductive at the same time. I have been trying to spread this message, but the internet delusions of success stories keep trying to keep the myth going. surf

 

Creating significance out of randomness is a phenomenon known as pareidolia. It’s the basis for the Rorschach inkblot test, which tries to gain insight into a person’s mental state by asking them what they see, when all they’re really looking at are, obviously, nothing but a bunch of ink blots. Our brains try desperately to make sense of the world, and far too often this desire, this ingrained need, fools us into seeing patterns where there are none. And that’s why… …technical analysis, for us traders, is dead! In fact, it was dead on arrival. It never had a prayer or a hope in hell.

Murphy, Dan (2013-06-19). Trading Strategies From a Trading Skeptic (pp. 20-21). Joshua Tree Financial, Inc.. Kindle Edition.

 

http://theinkblot.com/

here is your TA test

 

The reason I am posting those comments is not because I gain anything from that. It simply bothers me when people believe in bullshit and refuse to open their eyes and, therefore, infect others with their dogmas. It is much easier to learn a few TA “tricks” and consider yourself a “seasoned trader” rather than actually research and learn the true facts. And for those of you who are doing it for years and still believing in TA – I cannot help you. I am not even trying. I do not want to argue with you or even listen to what you are saying. My comments are only directed at those who have not yet been infected and thus could be saved.

Cheers,

MAESTRO

 

So you know the truth. Everyone that use TA to trade profitably are either lying or self deluded?

This is so condescending.