andrew lo of MIT began to develop exact definitions of TA patterns, its a start--but no where near complete. your lack of understanding here is typical of TA "protectors" ( your word) i like it , thanks!! surf
sure--the ability to read the other players and keep track of the cards. this is subjective, as is TA. I believe TA may have some value in the subjective sense--it's objective TA such as that propagated by JH and Proflogic that is ridiculous. surf
OK,so we agree on that.The interpertaion of the T.A. may be first and foremost.. What your view on stat arb,"pairs trading",i.e mean reversion?? Is there not a large technical element imbedded in the basic premise??
forget it... no point in having any conversation with someone so narrow minded... You know... belief is dangerous ... but disbelief.... oh man ... that's even worse.
thanks. yes, TA is an art at best, it needs to be interpreted and is far from a science despite what mr.hershey and mr.logic state. i see your point, that tactic can work in certain market conditions, but i still believe stat arb is fairly subjective. surf
Marketsurfer, You seem to pontificate a fair amount on matters related to trading. What, exactly, are your credentials that lend credibility to such absolute assertions? Is it perhaps your academic prowess? And if so, then could you please advise us of your academic credentials? Alternatively, is it perhaps your trading acumen? If so, then would you kindly advise us of your net performance in percentage terms, both annually over a reasonable period of time and YTD? Most of the rest of us only have opinions and observations that we share with others. I marvel at your ability to speak in such absolutes and await with much anticipation the basis of these fascinating absolute truths as you have defined them. And please be sure to refer only to yourself in your response since it is you who speaks so confidently about all matters trading. So I will ask you not to mimic mere sound bites from other people, since I can teach a mynah bird to do the same.
Surf,as you know,TA comes in all different shapes and sizes.Some are more subjective than others.It is unclear to me where you actually draw the line regarding T.A(no pun intended)...If a trader trades a mean reversion strategy,when its time to put the money on the table is it that vastly different than some standard devaition band trade?? Is he trading technically or "statistically"? I would have to disagree that Stat Arb is subjective... From the places I have been,(major investment banks and hedge funds),I would say the only subjective element is "news related"..I will preface that statement with the fact that I was a prop/derivatives trader..