Technical Analysis = CRAP

Discussion in 'Technical Analysis' started by Frits, Apr 27, 2011.

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  1. Yeah I know, and TA is any form of analysis used to make trading decisions that is NOT based on company fundamentals. Price action fits that bill exactly.

     
    #51     Apr 28, 2011
  2. TA is a slippery jungle of delusion for most. Hindsight bias is a killer in this business and TA feeds that sinful nature. HOWEVER, if you are a true believer, you might as well proceed in a systematic way. My friend David Aronson's book "evidence based technical analysis" is the only place to start. Almost all of the "educational" material out there on TA is wives tales , delusion and money making schemes ( scammers correctly guess that if you believe in TA, you are an easy mark).

    READ THE BOOK!!! Or go down the rabbit hole of completely spurious beliefs.
     
    #52     Apr 28, 2011

  3. I think the OP means "chart reading" when he refers to technical analysis.
     
    #53     Apr 28, 2011
  4. That's one of the better analogies I've heard.
    Well stated.
    TA is a science and like any science class in school there were some that excelled and others that played with themselves in the back of the room and paid the smart kids to do their homework.
     
    #54     Apr 28, 2011
  5. Lucrum

    Lucrum

    Free? You should be paying us to read it.
     
    #55     Apr 28, 2011
  6. Lucrum

    Lucrum

    Says the guy who has blown up and been banned more times than I can remember.
     
    #56     Apr 28, 2011
  7. Opps, forgot to add. In addition to David Aronson's book. My friend janes Altucher's "trade like a hedge fund" is the only other education one needs on how to trade.
     
    #57     Apr 28, 2011
  8. Are those the two books you hang your trades on?
     
    #58     Apr 28, 2011
  9. luisHK

    luisHK


    Yes, they are the very fundations of the SMRF success :D

    Seriously, any more feedback on those books ?
     
    #59     Apr 28, 2011
  10. WS_MJH

    WS_MJH

    Obviously, no real indicator says buy here and sell there. TA is a tool but you need skills to go along with such a tool. Trading takes hard work to master; this isn't an easy profession but I have to say it's better than most.
     
    #60     Apr 28, 2011
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