*sigh* You trade the market, not the analysis. Any analysis is only a tool to extract an aspect of the market. Asking whether TA works is like asking, "Does the market trend?" with a nuance of "Is the market trending?" It works when the particular "aspect" is existing in the market. It doesn't work when it's not existing. Though, it does not mean that the aspect does not happen. Useless thread.
cd23, Thanks for the answer! Can you please explain as to what did you mean by the following "It is not an OODA thing either."? Thanks!
Technical Analysis and Science are as different as Science and Scientology! As Scientology TA is built to please Hollywood like people who are hungry for mysticism!
The main value of TA is to separate the price signal (what's important) from the price noise (what's not). The trick is either to find the small segment of TA that actually does that, or to figure out your own method. Almost nobody who actually discovers usable TA is going to publicly disclose it. Past disclosed methods like OBV and Elliot Waves that worked have lost their power due to public disclosure. So don't count on any future TA discoverers repeating the mistakes of past TA altruists.
Wow! MAESTRO, I respect what you have accomplished inside of your own environment and the successes you enjoy from it but that analogy is just wrong. You are the expert in your world but that doesn't make you even remotely an expert or familiar with areas you have no point of reference to. Scientology was the creation of a sick mind. I can attest to that from spending a good deal of time around Clearwater, Florida and seeing the transition of that organization over the years. Comparing that to technical analysis is no where near relevant. I will agree with you that a majority of the technical analysis, now, that is widely used is worthless but that in no way makes all of it worthless. You have not tested or researched how all fractal chart options can be used inside specific charting environments, just to name a single aspect of newer analysis. To make a blanket statement condemning that which you are not specifically experienced in is irresponsible.
Maybe you are right. But, scientific view does not mean only scientists can explain. Science is facts and not beliefs, so experience is what you have learnt and experienced, so it is a science in a way. But, you are right, I should have asked, âLet us share the experiences on Technical Analysisâ. Thanks for pointing that out.
You are right; I think I should have used the term majority of people, as at that time of starting the thread, I realized that many people were against Technical analysis. Thanks for pointing that out.
So how many times do we have to repeat the same conclusion. Though, I'll bite... In trading, there is very little observable constancy to base on, for running scientific methods.