If you insist TA doesn't work, why are you fishing for traders to share TA set ups with you? http://www.elitetrader.com/vb/showthread.php?threadid=247783 You can't be on both sides of the fence lol. If you are such a beginners stage, how would you know if TA works?
T/A is like a road map, road maps don't fail , they tell you the location of everything.T/a is a dynamic road map in a changing environment , the T/A map changes faster than human's can process information , if anything t/a changes in a mountainous road where rocks are falling , and it can't predict which rocks are falling next to crush your account. Draghi does not look at t/a before he farts or blows wind , but t/a can predict it and give the pricks an edge? Every year pricks go to babypips , they then turn up everywhere selling and marketing some thing.
You'll probably be surprised, but price amazingly often shows the tone of Draghi's or Bernanke's speech in advance... Because they don't speak out of themselves spontaneously, all their speeches are planned and of course the content is known to informed people.... who can't hide their actions from being reflected on the price chart. They can hide a lot, but not that. Having said all that, honestly you don't need to predict future to trade successfully, just follow what price shows you.
This right brain/left theory applied to the dancer has been proven incorrect, don't believe every internet rumor.
Thanks Golden for your comments. Whilst I completely agree with you, there are two great problems... 1) The assumption or implication on ET by non TA practitioners that TA is a monolithic or homogeneous tight knit community where all TA is equal and we all sing off the same hymn-sheet is like saying martial arts is all one and the same. There are enormous differences in the effectiveness of different styles and the learning curve is similar to the years required to learn MA. 2) There are genuine GCG issues that mean just as one may never be good at MA, one may never have the natural ability required to be good at TA. We may just be born on the wrong side of the fence to be great at MA or TA or to fly a fast jet or control a UVA. That doesn't mean we can't trade in a different way but unless someone can demonstrate TA doesn't work, folks are hiding behind a smokescreen when they say they have used TA and it doesn't work. Only one guy has posted a chart example in almost 300 pages and that is the outspoken Oilfxpro and he is both for and against TA, depending on the thread and his TA is at beginner stage - enough said? (Oily that is not to knock you. Credit due for posting as you were the only one with balls to do it. Ask others where your level of TA is at if you don't like my opinion.)
Most professional traders and big money stay out of markets when the muppet masters sing. I just follow the price , because that tells me where demand/supply is .
It should be obvious and I have stated this before in the other thread, there is plenty of time and instuments where there are no changes or boulders as you call them. An example is a trend which lasts months. If you are stuck trading one instrument you are blind to this. Take a look a stocks! It has been said, there are always trending markets, even in a bear market. Try looking for them. What the hell kind of STUPID statement is "80 % of trends fail".? If they fail, they are ot a trend, if they were a trend, well bullwinkle, they were successful and many made money. We're you trying to say most trends end? Yes, true. And it's also true most of us too will die. Most trends have retracements? Big oppoortunity! Are you trying to win first place in a trolling contest? Instead of making big money trading? TA is a tool for making big money! You get what you are looking for in life.