thank you, tdog. i employ a variety of methods, and yes, i have charts on my screens to visualize and get an intuitive feel for whats happening. however, this does not mean im deluded enough to think TA is giving me any kind of "edge" regards, surf
Every invention that was ever made was supposed to be impossible to be made. Because nobody knew how to invent it. Till one day someone found a way and did the invention that was supposed to be "uninventable". Wikipedia:Some inventions represent a radical breakthrough in science or technology which extends the boundaries of human knowledge.
This is kinda like somebody pre-1800 saying "when tested properly, medicine fails". So why bother with medicine at all? Because the alternative is worse? Because even pre-science doctors knew that they didn't know everything that there was to know about medicine, and that the room for improvement was vast? You continually imply that ALL of TA is crap, because most publicly disclosed TA is crap. Maybe it's time to stop generalizing from publicly known TA to future and presently undisclosed TA. You can't praise EBTA on the one hand and say "TA doesn't work" on the other hand, when Aronson himself says he still has hopes for TA. Aronson's tests indicate that single-rule public TA systems don't bode well. That has nothing to do multiple-rule systems nor undisclosed-rule systems. Aronson knows this.
ok. TA consists of price/volume---no matter how you mix, slice it, dice it or crunch it. secret rules, the future of TA--thats all mumbo jumbo, unlike medicine, TA has two basic components. these other things are best left to mystics and the pseudo scientific like et's own proflogic. EBTA was the first full book to look at the subject in a true scientific manner--- its a great book, however this does not mean I agree with DA 100%. best, surf
Sorry, but "a variety of methods" is a tad vague, even for someone asking for a broad brush response. It is a non-answer. Could you please be a bit more specific? As for charts on a screen, do they not just show you past price data? And, according to you, is not past price data of no significance in ascertaining the possible future course of prices? Because, if so, then is your own use of charts on a screen not entirely superfluous according to your own logic? I'm just trying to reconcile the logic of your claims with the nature of your conduct. I think it is interesting that you regard TA as useless because it is not objective, but you use charts to "visualize and get an intuitive feel." On the other hand, I do use rudimentary TA and I personally hate visualizing or using intuition -- my rules are almost entirely and objectively if/then. Funny, eh? Reference to edge is, at best, a moot point. We do what we do in the way that we do it because we think it will enhance our chances of making money. Label it as you please.
For what it's worth, the S&P just found support and "bounced" off the 50% retracement from 1506.10 to 1555.90, coming thru at 1531.00