Entertainment between trades during a fairly slow August. I'm getting roughly 2-4 trades per day right now, lots of time to chat Today has been great though.
This statement brings up so many responses. Where to begin. Is there some other style of trading which produces non-random distribution of profits and losses? Name it? If anything your statement bolsters the theory that T/A does work, if the distribution was non-random then where's the risk? Continue reading MD's book to find out why you get random distribution of profits and losses. Conditions aren't exactly the same, same participants, same financial goals, economic outlooks, think about all of the possible variables. For those that say looking at past price action to base future trading decisions on, is off base, what are you doing with any other type of trading style. You are using some sort of information, data, (whatever you want to call it) to take a position, whether long, short, flat or cover. If you are not looking at past relationships between your information/data and some other criteria then how do you know what position to take. I know, I know obviously I am a layman and wouldn't be able to understand it.
So is anybody going to comment on Victor Sperandeo and other traders who openly stated they use TA and have proven track record? Or this is just another thread full of those who just fish for ideas or edges under the cover of criticism?
Can you make your request in a larger font? Seems to be a reading problem. Futures Truth had R-MESA top rated for over 10 consecutive years based on Hurst Cycles. I used MESA but then I developed my own cycles. That was 10 years that showed a substantial profit on the ES. I don't have up to date performance figures as I no longer use MESA.
Seems to be the case of unconscious selective perception based on personal mental maps. P. S. TA setups can be tested pretty well and more or less objectively (enough to provide a profitable system at least), many of those can probably be also automated (probably, because I have never done it myself and cannot speak with confidence), but no, guys who troll these TA threads looking for "proofs", there's not going to be a free cake here for you. I give away those "cakes" for a couple of years already, rather not give away, but pass what I have learnt, because I received it for free and feel obligated to pass it for free too, but not to entertain people who don't respect the matter discussed or try to get the edge in such amoral way as trolling and challenging others.
How exactly do you plan on compensating this trader for sharing his edge with you? How does he know you won't just steal it and run away laughing?
Just saw the whole thread and you guys know nothing joke from Cramer's "they know NOTHING" Seriously, TA works until it doesn't.