Technical Analysis Doesn't Work

Discussion in 'Technical Analysis' started by rcanfiel, Jul 16, 2007.

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  1. Confucious on Knowledge :

    Real knowledge is to know the extent of one's ignorance.

    To know, is to know that you know nothing. That is the meaning of true knowledge.

    When you say something, say what you know. When you don't know something, say you don't know. That is knowledge.

    Study the past if you would define the future.


    Some people should think about these quotations serioiusly because it could be useful for them. But they probably think it is not meant for them but for the others, as they already know everything.
     
    #601     Aug 15, 2007
  2. Started losing and suddenly remembered he had a pressing engagement elsewhere.. left the contest early.. just as well.. minus 26% was flattering compared to him seeing it through to the bitter end
     
    #602     Aug 15, 2007
  3. Bravo.
    One of the best posts I've read in some time.
     
    #603     Aug 15, 2007
  4. Disagree all you like, but TA existed long before indicators.

    See ya.

    LC
     
    #604     Aug 15, 2007
  5. Depends on your definition of prediction..

    Do I know if the next flip of the coin will be a head or a tail?

    No

    Do I know if the next 100 flips will roughly be 50 heads and 50 tails?

    Yes

    Hmmm so I don't really need to know if the next trade will be successful.. thank you probability
     
    #605     Aug 15, 2007
  6. Charles H. Dow (1851 - 1902), considered to be the father of Modern Technical Analysis, used only price and began his research in the mid 1800's. Hamilton and Rhea added to and interpreted Dow's work with indicators but the foundation Dow created with grounded in price only.

    All analysis begins with price, that is an absolute. We analyze price because we trade, invest or hedge based on price fluctuating, not time or indicators. Some posters on these threads have made comments that focusing on price/volume relationships as they occur in real-time are mystical but what could be more pure. What about pure price, pure volume and real-time quotes are mystical. It is a good thing that common sense, critical thinking and original thought isn't completely lost in today's halls of learning.
     
    #606     Aug 15, 2007
  7. And yet you continue to claim to be able to do so.

    Another inconsistency . . . :)

    LC
     
    #607     Aug 15, 2007

  8. does the professor believe the markets are the same now as they were in charles dow's days??
     
    #608     Aug 16, 2007


  9. my claim is seeking an edge and trying to remain flexible as the ever changing market regimes ebb and flow.

    i am not proflogic or uri geller, sorry.

    surf
     
    #609     Aug 16, 2007
  10. Yes, of course :)

    LC
     
    #610     Aug 16, 2007
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