Technical analysis :useless junk science

You're so emotional, relax.

It's a game for you, fine. It's a business for me so I run it as a business with the goal of having as many diversified and possibly low-risk ways to make money trading as possible.

You don't like it? No, you don't like the fact you cannot do the same so you dream of making 40,000 pips a year while my goal is "just" about 100 pips a month. But that's fine, not everyone is a trader, you are always welcome to be a client, I can make you real, not imaginery money.

 

If I am the lying whore you kindly refer to that had advised not to catch the falling knife, then show me that post please. The falling knife is one of my best signals and it won't change so now, off you go and show who is the liar, assuming it is my post you are so uptight about.

 

The developers of that system in his website admits to have made changes to the system several times during the years resulting in positive hypothetical performance. This is not proof that TA works but proof that TA is regularly used to deceive people.

"Over the following 10 years, various iterations were performed on RMESA. RMESA3 decreased the downside breakout trades since it was determined that short trades were being subject to substantially more slippage than were the long breakout trades. RMESA5 eliminated the MESA component completely, favoring a direct implementation of a neural approximation filter. Several other iterations were developed..."

 

Yip, they continued to refine it and adapt it to market conditions. That is what TA is about.

Nice to see you have a new ID. Now get another one - you're on ignore. And when you have a track record of posting I will know you are not out to deceive. Don't forget to quote the other examples otherwise you are trying to deceive.

Bye

 

Look at some your threads which advise trading with trends , catching a falling knife contradicts your beliefs.

http://www.traderslaboratory.com/fo...fe&utm_content=accounts@raj-enterprises.co.uk

 

Hmm... In my view at least, catching reversals in the direction of a bigger trend aka context are the very best trades.

 

Breaks my belief? I live for this stuff. It is the nearest thing to the market secret. Read this to understand the falling knife and why weak traders think like Oily...

http://www.traderslog.com/catch-a-falling-knife…/

...In my view, the reason most traders will not step up and buy at the actual bottoms or sell at the actual tops—when the risk is the lowest and the profit potential the greatest—is only because they are afraid to be wrong. That is why they wait for confirmation. It reduces their fear of a potential loss. But in reality—it is this fear and need for confirmation that robs them of taking the lowest risk trade at the right time to take it. When the market is already moving in the opposite direction the risk is increasing for a reversal and the profit potential is dropping. This is exactly the opposite of the “common sense” approach that the real world tells you would work—“wait and watch” works wonderfully when you are trying to buy a car or a house—or get a deal on putting in a swimming pool. But “wait and watch” increases your risk and reduces your profits in the markets—so why do most traders do it? Why would you wait for confirmation when it is costing you so much opportunity to do so?

The reason is simple. Most traders will tell you “don’t try to catch a falling knife” because they personally don’t know how to do it. If they did—they would be buying those breaks and selling those rallies ALL THE TIME—because THAT is where the real money is....

 

Yeah but it is actually very good advice if you don't know what you are doing. Volatility is high in those moments and a mistimed trade could be disastrous. Of course, when you know what you are looking for precisely, then these setups do offer great bang for your buck.

When you are trading with the trend and dont know what you are doing, you generally won't have a tremendous drop the moment you get into a trade (sometimes, of course, it can happen).

 

Yup, agreed, it's the golden rule: If you don't know what you are doing don't try this at home folks.

Real trading is a world away from EA's. Before you can say what works and what is junk, learn your craft. Otherwise you start spouting out of ignorance.