Everyone says that Technical analysis not valid, silly tool. In this thread let us discuss a scientific view of the subject. Please, no off-point posts. Please just stick to facts of different Technical Methods. Please, just simply discuss about Technical methods.
it tough to have a scientific view on anything that isn't even defined. migt as well speak of the science of modern art you may have better results.
The science behind is strictly psychology101 .! Think about what it really boils down to at the end of the day.
By Scientific look, I mean study the logic behind each indicator and the math. Plus, we will test both "common rules" and advance concepts 100% mechanically. We will also evaluate the rules in the light of the logic behind each indicator and look at how pattern based trading relates to Technical analysis and indicators.
This has already been done. Numerous exhaustive, multiyear studies find little advantage to using TA indicators or patterns. The response from those who still believe in classic TA is "that is wrong" without providing any significant proof to the contrary. In other words, shoot the kid who says "but the emporer is naked!"
indeed, we may name the TA as statistika. And this will no be a mistake. and this and there is science.
Thought shall do some checking out myself and found the following link particularly interesting. A number of softwares have been mentioned in this thread. http://www.portfolio123.com/mvnforum/printthread?thread=1776&printall=yes
Technical Analysis is a self-fulfilling prophecy. If you get enough people trading off of the same indicator, there lies the truth. With out it, the market would all be a little closer to anarchy.
I went through the ET and the site (http://www.portfolio123.com/mvnforum/printthread?thread=1776&printall=yes) to see the most common talked about sites. Wow!! What a list! I have written it in alphabetical order. Can anyone say if I have missed out any software or have made a mistake? AIQ Trading Expert Amibroker BackTrader module interactivebrokers Investor RT investors mbtrading MetaStock morningstar Multicharts NinjaTrader OpenQuant OV5's BackTrader portfolio123 Prophet RightEdge Seer Trading shortsqueeze StockCharts Stockfetcher stockworm TradersStudio TradeStation Trading Blox Trading Receipes ValueForum Vector Vest Wealth-Lab