Some of you appear not to understand English. Thats OK. This is the weekend, and I have noticed a phenomena where IQ's and skill levels drop significantly on Saturday and Sunday. My comments were clear. In fact, a good surgeon equiped with a "butter knife" would have a chance of keeping his patient alive, and in contrast even with a laser scalpel, the rest of you would be killing people right and left. Tools matter and so do skills. If I have a choice, I will go with a skilled practitioner even with limited tools. When you choose a professional. Do you ask whether he has the latest tools, or do you ask where he went to school and what his record of performance is. I rest my case. By all means keep on as you were. Lefty
Let's take a look: "What people fail to understand is the following; "1. Concepts to not always reduce to "black or white", "on or off", "yes or no"." Yes, and so what? What is exactly is the relevance of this cliché to the discussion at hand? VERDICT: UNCLEAR "2. The effectiveness of technical analysis depends on the skill of the practitioner." That depends on the TA. If you're talking about the kind delivering signals that only become obvious after the fact, yes, the practitioner had better be very skillful to make it worth his while. If you're talking about the kind that is based in solid science and generates clear signals producing more profits than loses, then the skill factor becomes less important. VERDICT: UNCLEAR; treating all TA as the same. "3. Not all technical analysis tools are useful, some are simple an attempt by the "inventor" to obtain self-agrandizement." I spent two whole posts saying that. You're right, some people have trouble with the English language and basic logic.
Who the hell are you to offer a "verdict" on anything. I don't remember electing you to any office. My comments are meant for folks who THINK before they speak. Give it a try. Come back when you have something intelligent to say. I have to admit that I am getting some satisfaction thinking about you selecting a doctor based on whether or not he has the "right tools". If I were a physician, at this point I would be shinning a light in your eyes and yelling for a nurse. "Hurry, he isn't responding, we are going to have to operate, Now!" Well this isnt a total loss, at least I am getting some entertainment from the posts. Lefty By the way, if my last comment lacks logic, and you have already posted it, what does that say about you?
I'm a freethinker. We render verdicts on everything. And that's exactly what you've been doing as well, as is your right. One would have appreciated more intelligent responses, but yours have been amusing all the same. BTW your utter failure to actually address the issues has been duly noted. That makes two of us. I had to deliver the punchline.
I could give a shit about what you duly notice In order to "deliver a punchline" there has to be a joke. At this point you are "it" As for "failing to address an issue". I have already made my comment. Go back and read it. Bye Lefty. By the way, folks doesn't this specimen sound suspiciously like the guy who decided that "trend following was an illusion" a while back. If that's the case, I can do without it. As the bible says "the education of fools is folly".
Lets go a step further here. I have read a couple of this "free thinker's" posts. "Free Thinker" seems to be a synonym for "I am not a professional, I work in a Seven-Eleven Store, but I am saving my money up and as soon as I move out of my folk's basement, I'm really going to light it up". As I have said before (I don't mind repeating myself), nothing beats skill and experience. Technical indicators are tools. The big problem for retail traders is that they look to find a system composed of technical indicators that will function like automated bank teller. Aint gonna happen. Technical and fundamental issues exist in the world of finance. Experienced professionals operate in this world. They are folks who have devoted their lives to success in this business. They may have a preference or lean towards one or the other side, but universally they all respect the idea that you have to combine skill and experience with the appropriate tools. The "art" of trading is to find that combination of skill, experience, technical and fundamental skills that produce profit on a consistent basis. Speaking of "tools", its about time for "Einstein" to offer his next gem. Frankly, I am gettting a little tired of the game, as I would prefer to watch San Antonio kick Detroit's ass. See ya later. Lefty
I agree. The main value of TA is to separate the price signal (what's important) from the price noise (what's not). The trick is to find the small segment of TA that actually does that.