Technical analysis :useless junk science

True, a chart will never guarantee what will happen next.

There is no 100% technical analysis approach.

Why? Systemic risk. You cannot get it out of the equation.

earthquakes, terrorism, shooting, announcements, whatever....you cannot factor it all in.....

does this make it 'useless junk science'? i don't think so.

i only like TA to fade every head and shoulders (bearish) when i feel we are in a bull market.....soo many clowns love to look for the H&S, and proceed to lose it all...

at least they can justify their loss.....see that H&S!!!!

suckers

 

You're so desperate to find TA method that works, aren't you, brother Oily?

 

H&S are worth the try... If they work, fine, if they don't... it's a FLAG, reverse and stay further with the trend... No rocket science.

 

No , they got thousands of free t/a based systems on forex factory and 95 % are still losing.

 

Were all those systems initially constructed as purely mechanical and named such by their authors?

 

They are all t/a based systems , does not matter how they are constructed.


I use a price based system which works around on failure of t/a trends 80 % of the time.

 

No it does. If system is not purely mechanical it means successful trading of it may demand a certain set of skills or secondary observations which if lack in the equation lead to a disaster.

When saying "T/A" do you mean "purely mechanical T/A" or all T/A, including it's usage as one of the tools in the process of decision making?

Then why you complain in the other thread that "80% intraday trends fail and hence day trading is a losers game"?

By the way, is PA = TA?

 

PA is term created by people who wanted it to sound something more than it is, something special. As discussed in the other thread by kut2k, what oilfxpro does falls exactly under the categorization of TA.

 

Oh, so you also use TA. Very nice.

 

Technical analysis is a skill that improves with experience and study. Always be a student and keep learning.Prick ...keep on being a student ffor the rest of your life!

So one has to learn from a dubious science , what junk science will work and won't work , or may work or not work in the future .As a new user of technical anylysis , how are you supposed to know if it works .....or some prick sold a load of books on bs?

Read more junk science. Most of it fails regularly

http://stockcharts.com/school/doku....egies:john_murphy_s_ten_laws#know_the_confirm