in another thread you posted that Radarscreen maintenance fees are too expensive? You got such an incredible system and you won't spend a little money on trading tools? Does anyone on these board actually trade for real???
The TA naysayers have no logical reason to dismiss TA as worthless or unprofitable because either they're already profitable and if so wouldn't be concerned about someone else's trading methods, or they're not profitable and would be open to learning more about a method that so many are using profitably. I've come to believe they are either illogical people who enjoy meaningless debate, or they're hoping one of the profitable technical traders will post a precise set of instructions for trading. TA can be tested. You study significant price swings in your preferred time frame, compile data about each of these price swings including the patterns (S/R, indicators, volume, etc.) surrounding the swings, measure max adverse and favorable excursions and develop a trading plan based on the highest probability setups. You capture screen shots of these setups at the hard right edge and study them until you can identify them immediately without question. You practice trading the plan in a sim account or on paper and if the results resemble the stats closely, you trade live. If you do this, you WILL find a profitable edge that works consistently over time. There is no guarantee you'll develop the trader's mindset needed to successfully trade your plan, but there are plenty of options for working on that once you have a concrete plan.
The secret is using a smaller time frame to position ahead of the breakout. Then you get to do the Snoopy dance instead of whining about 15 ticks slippage
Wake up. All markets are controlled by a small number of major players. This is one reason why TA will not work. The reason therefore should be as clear as day as to why. However as this thread is dominated by people who would rather continue to believe what the popular retail trading media provides them with, I think it best to leave people in ignorance. You can give pointers to people, but you clearly cant get people to think deeply upon a subject and come to their own conclusions. It's easier for them to follow and perhaps tweak other peoples ideas. Just remember: Retail traders = 90% losers = mostly TA based. Professional traders = 40% losers = little TA What makes me really laugh is how 90% of traders are KNOWN to fail, yet everyone here proclaiming to be profitable using TA! It's a joke. Some/most of you must be telling fibs! Alas, my time here is drawing to an end. It's been fun, but of little value Im afraid.
LOL! Get used to it. I dont think they do personally. Look at the jokers with 15,000+ posts in a few years. All they do is sit round talking shit. Clearly they have no lives outside this website. LOL
Sorry, but this is another joke post. And what do you do when your beloved MAE/MFE fall apart as volatility changes with the next cycle? Go off down the back testing route again? How about down trends and uptrends? Do they behave differently? Will an equity market fall quicker than it rises? How about FX markets? Do they fall more quickly than they rally? How about STIR's? Commodities? Elsewhere you claimed to trade ES on a 5min chart. So how has your method changed in the recent decline of volatility? Your FIXED method and implied targets derived from MFE must be shot to pieces. No need to reply. Good luck in your endeavours, but if you really want to get really good at this (we both know you aren't really), you're going to need to think for your self some more and throw away what you learned in some silly seminar or book, or chat room. If making coin was that easy, everyone would be as rich as your post is clueless. Sorry if thats harsh, but its the truth.
eeer he actually said he WAS already in a small time frame. So thats another useless solution from the TA camp. How can you say smallER when you dont know what time frame hes on? It could be 5 tick bars for all you know. Less of the smart remarks, more thought please. I guess you wont be doing any snoopy dance soon will you dear.
HarshMan,harsh, I'm just too nice a guy to slam em like that, blackhand. But, maybe a little tough love is needed to force our trading brethren to see reality. The amount if self delusion is truly amazing. surf