What do they use alongside TA? Fundamental analysis? Do they get a bias from Fundamentals and only take TA setups using a directional bias from their Fundamental analysis? If so, what sort of non FA would one use for trading currencies? I imagine with stock trading you'd be looking at PE ratios etc, but what about for trading futures like the ES or a currency like 6b (gbpusd)??? thanks
shark, step one for trendlines is to put the trend line on correct side of the price. If you fuck that up, as you do, you will be getting off to a poor start. I'm not suggesting that you read anything or go to a TA location, but do not kid yourself that your mind has any capability. It is a empty as anyone's who has posted here. Is there a TA for dummies???
In 4261 posts, this is the first one from Jack that made any sense at all. Did someone steal his account or is he on his meds? Time will tell. Also, loved the flames OP!
Shark, I know you're being facetious but you did actually draw the trend line wrong. Up trend lines connect lows, not highs, and don't pass through any prices in between. Although I sometimes fudge that last condition a little bit if the resulting line better reflects the overall slope of the move. The clearest description I've seen on how to draw trendlines was in Victor Sperandeo's "Trader Vic" book (the first one).
Regardless of whether you know how to draw trendlines or not, one instance of failure should not cause you to discard an idea altogether. Even the greatest systems have many trades that fail. This is trading we are talking about here, not ATM machines.
* I don't use TA alone. * I don't use fundamentals. * I trade futures and currencies. Hopefully you'll be able to figure out on your own there's more to profitable trading than TA all by itself whenever you decide to trade futures or currencies which shouldn't be too difficult because it's commonly discussed here at ET every trading day. Mark
I think you (OP) have drawn the trendline incorrectly. Maybe you did so purposely to prove your point - which... is not all the obvious anyway. I do not see any point in your post, really. Anybody can pick something and say "see... trading by fundamental doesn't work", or "see... market timing doesn't work", "see... trading on news doesn't work". Uptrend (to long) line is drawn on higher lows. Downtrend (to short) line is draw on lower highs. And TA, in a broader definition, is not just about drawing trendlines. TA is about how you analyze a chart - the price movement history. Drawing trendline is only one element of it (a small one). Others include momentum type of indicators, moving averages, trending indicators like ADX, and many others. Elliott waves, Gann, Pitchfork... many others. If you believe in some or any method, use it. Hopefully it will help you trade. If you don't believe in it, don't use it.
I could swear I read in these very forums that Jack Hershey was dead. Was that a fake. Is that really you Jack? Are you back? What was it like?
I never see anything else discussed other than TA and FA. What else can be used alongside TA? I wasn't aware there was a 3rd option. Maybe thats why I consistently lose money? Anyone else wanna help me out as to the 3rd method aluded too?