Amen, especially since TA is defined as study of price + volume. Every body with ANY sense would look @ price + volume, some study it.If one doesnt even look @ price + volume, your broker could accidently mistake your order. I have heard of some that dont even look @ brokerage statement when losing,LOL. And whats with all the retail stores dong a 50% off sale?????OH ,, thats TA,[50% off sale] too.LOL
Today was a good example of ta or whatever you call it. etf stuff. I would call it a relative strength(?) Iwm-ibb-smh. After open iwm sold off while other two stayed flat(if anyone noticed) supported by buyers. Sure enough when market as a whole turned up, ibb and smh outperformed iwm, spy, qqq etc by wide margin.
%%%%% I noticed SMH is more of a rollercoaster+ its easier to bring down 30 stocks than 100; not that DIA or QQQ..... is bear proof. People that don't like to study seem to enjoy the word '' random'' I thought I discovered a random walk one time; but come to find out she simply enjoyed spending time shopping, so she walked/shopped a lot, not really random.LOL
Plus some other little traders on TA: I realized technical analysis didn’t work when I turned the charts upside down and didn’t get a different answer.” -----------Warren Buffett Charts are great for predicting the past.” ------------Peter Lynch
Marty Schwartz turned $40K into $20MM and is a devout technician. The problem with asking a whale about TA is that will not admit to methodology. I've known a few PMs at large funds and a lot of them are exclusively chartists. PTJ made his biggest % gains while using TA. He know allocates to over a hundred PMs, and I know factually that some of them are also devout technicians. Some of the biggest prop traders I know are spreaders and are technicians. I will agree that it's akin to admitting a vice. Nobody wants to admit they are spreading x-y and applying NR7 to the chart.
If you listen closely to the PTJ video, TA actually caused Jones to miss the crash by over a year-- therefore he made a killing despite the TA not because of it. These guys use edges unavailable to most of us, not TA as a total decision making tool. TA has some value but not in the ET sense. surf
Jerry Parker (whom you "retweeted" here) is a classic trend-follower and original Turtle Trader. By my definition, he uses TA, and it's not esoteric, "unavailable" stuff. Parker believes TA is useless for finding tops/bottoms, prediciting a future change of direction, etc. However, he uses it to determine trends. Rate-of-change, MAs, etc. can all be used for pure trend-following TA. This means you find what the market is currently doing and follow it. No prediction is necessary. It's really just semantics.