I am sure that is accurate. The humor in this discussion is that those who argue against technical analysis are actually using technical analysis, but are embarassed to admit it and want to sound more sophisticated than they really are. Google vanity and pride for more information.
I don't like to wade into the "speculative psychology" waters that often, but I think that in a business with such a high failure rate, one way to keep yourself relevant is to always be touting something new, regardless of whether it's really new or really valuable or really just "new wine in old bottles". So, yeah, I definitely think that's generating some of the responses.
Here is the Jack Hershey version: Technical Analysis is the second part of four parts of a system of taking money out of markets as a result of price change. The measure of the monitoring signals comes from a complete rules based system applied to the human psychology leading variable of price called volume. The management of Monitoring, Analysis, Decision Making and timely Action (a routine) is by concept called RDBMS and is completely programmable in an applied language such as SQL. The rules based system uses the mathematics dictated by the market and its inherent granularity of all insruments, Boolean Algebra. The Algorithm is pool extraction to take the market's full offer and is based upon a complete deduced Hypothesis Set (HS) and its corresponding Parametric Measure (MP). MP is a binary vector having magnitude and direction. The system is universal and applicable to all markets having a sufficient liquidity to serve willing participants. The character of the resultant system is that there is no noise, no anomalies or no flaws exhibited by any traded market. The principle of trading to take the full offer on any of the interlocking trading fractals is an all in, always in strategy using hold/reversal to always be on the correct sentiment detrmined side of the market. This is Trade Marked todays: actions: On open in short. reversal long on bar 6 reversal short on bar 9 reversal long on bar 13 Call: there will be a eversal short on bar 20
Funny thing is, I was looking at the compiled trade records I have since I really solidified my methodology last May. Since then, I've recorded 770 trades with 52% winners. Excel tells me that the odds of that happening if my actual win rate was a random 50-50 are less than 2%. So, at better than 98% confidence, I can say my entries are not random. And that was just for the unoptimized version of the entry strategy. With the optimized version, the odds of entries being random is 0.00002% with 226 trades and a 66% win rate. I'm not losing any sleep over these discussions about how "random" my entries are, let's just put it that way.
Call is for TI on the bar 23 BO of the lateral. The lateral killed data (volume) for bars21 ans 22 after the P1 on bar 20. T1 is the BO of the RTL of price and ends the overlap of the prior trend. For those who annotate and monitor market PACE; today the opening pace ended on bar 21. By bar 33 we will be in midday and a vey low volume PACE. Bar 27 was forming a lat; it was a reversal when the Volume bacame a LVBO and no lat existed.
Well here I go again wasting my time. Had a bad day yesterday only 79% win rate using 1 minute charts, so I checked it again using 2 minute charts and got a 100% win rate. Look below to see how it turned out today. DATE MKOPT= W/L WIN% 8-2 UP 1.5 27/3 90% 8-3 UP 1.5 18/1 95% 8-6 DWN 1.0 18/1 95% 8-7 UP 1.5 35/8 81% 8-8 DWN 1.5 47/1 98% 8-9 DWN 1.0 24/2 92% 8-10 DWN 1.0 25/1 96% 8-13 DWN 2.0 33/0 100% 8-14 UP 2.0 37/1 97% regards
Bar 23 was theoretically the new T1 but it was then replaced by bar 24. Bar 25 is P2. So far so good?
Hey RCG, TA deals with past price/volume data.( see the pretty colorful and artistic charts above) Other analysis techniques use the book and other data before its converted into a trade (price). See the difference? surf Why not TA trade binary options? Its simple all you need to do it guess direction and win 70 - 100% every trade. Just think of the compounding potential! www.ibinarytrade.com www.traderush.com some resources to help TA traders--heck the one group offers 60 second options-- imagine making 100% every 60 seconds? Surely TA traders can do this with the charts??