please do not embarrass yourself even further. Money management/Risk management has nothing whatsoever to do with Technical Analysis.
I didn't think so-- so you can make the choice to discover how the market really works or go back to your fantasy worlds surf
Well, I've won a national investing "real money" championship (and nearly won 3 other times)... and have taken around $100 Million from the markets for myself and clients... all using "price chart TA"... of course I should be regarded as "irrelevant" according to Mayer's Law*... because few want to believe what I do actually works. (sarcasm, of course) I get it! You've got a strong opinion. What you DON'T know is that your opinion is WRONG because you don't understand!! I know you've made good money over the years, as you're still in business... but I suspect you could have made a lot more with a little "tweaking to your thinking". (For all of you viewing this thread... Surf and I have a connection. He has a much larger operation than mine, and I've sold him a few workstation computers... he can use lots of computers, I need only a few. I respect that he's made money (there is more than one way to "skin the market's cat"), but his disagreement about what I do is ALL WRONG. I suspect he'd make a LOT more money if he listened to me and understood TA as I do. However... if you've been successful, it's difficult to adopt anything other... thinking others who don't do what you do, "don't get it".) * A corollary to Murphy's Law... which states, "If the theory is not supported by the facts, they will be disregarded".
That is very impressive, Scat. I respect you and your accomplishments. I just think u may be giving a little too mych credit to TA rather than to your inate ability and skill-- but with that said, your bottom line and success speaks for itself--- you have my utmost respect brother. Peace Surf Ps. If anyone needs a top of class trading machine at a great price, scat is your man.
TA is a tool, works for some, doesn't work for those who misuse it or have other trading deficiencies and blame it on "the evil TA". Plain and simple. Why this incessant debate and regurgitation continues on a daily basis is beyond me. Getting old, every other day yet another thread dedicated to the same bickering, and by the same people. Time for some to get a life and let it go already.
I'm a smart guy, and proud of it! I graduated Summa Cum Laude (3.97/4.0 GPA) in science.. Chemistry and Biology primarily. One of the benefits of an education in science is the development of one's deductive reasoning abilities. (Like when Sherlock Holmes was asked... "What exactly is it that you do, Mr. Holmes?" He replied, "I observe and deduce". I cannot overemphasize how relevant that statement is to trading the financial markets.) There is nothing to debate. Proper TA analysis works like "finding money in the street". If you don't believe that, it's because you don't "get it". I understand you have a different approach/belief.. though I don't know exactly what that is... but your disdain of "proper TA" is totally off base.
"Technical Analysis"... is a study of "buying and selling"... what players are ACTUALLY DOING WITH THEIR MONEY. Isn't that a trader's objective... to be in tune with whatever the mass of buyers or sellers are doing? Isn't that what moves prices?