Since the rise of the internet, there hasnt been such a waste of .... in history (to the best of my knowledge - which I will grant is limited). If you read literature as i do (written on paper, not processed by binary based computer information systems), one will find a great discepancy between the amount of useful information as opposed to the nonsense found in former over the latter. The question is ... why? There is at least tri-fold logic behind this: 1). It takes a lot more effort to produce a physical publication 2). Some degree of verification is required that the information contained in a physical paper based publication is accurate (to the best of information available) and 3). There is no little to no ability or willingness to verify information written in a virtual environment (this is a point that could be combined with # 2). Was this thread (as well as this post) a waste of virtual memory? I'm not sure the answer to this. Thankfully, I know that in the computer based continuum, it might be illogical to consider this thread a 'waste' per say for the simple reason that the space that is used to contain this information can readily be altered (to something that is as equally useless, or something that is useful), at the blink of often a single person's desire. So really, I should state the information contained herewithin is useless, not exactly a waste.
The op asked for proof TA doesn't work and we got these beautiful charts (posted by TA naysayers) demonstrating how nicely TA works. Back when I had my charts on a separate PC I lost connection a few times and had to trade without the charts. I just watched the price movement on the DOM and my inner eye drew charts for me...Oh wait, maybe that wasn't it at all...maybe the absence of charts opened up my blocked channels and let the magic psychic mojo in! Let's talk indicators! They all suck, right? Someone posted here earlier something about stochastics in different time frames. I used stochs for a while as a noob (they do suck, except in channels and ranges), but it wasn't until I discovered multiple time frames that they became a power tool for me in my trading of momentum stocks. Once I put on my magic stochastic decoder ring, I was able to recognize and take advantage of an exploitable edge ("Blasphemy!" they cry, "She's a witch!! Burn her!!!").
Brother Master, always remember two important things: 1. All advertising is good advertising. 2. All information is good information. Thanks for posting.
quant + Price Drivers + TA + PA + moving averages + stochastics + multiple time frames + fibos + hershey highway full market offering + babypips + trendlines + Astrology + yoohoo lunatic + ... = EZshitONtoast way to riches... 1040 for 2011 + broker log for 2012... = REALITY "He once challenged his own reflection to a staring contest...on the fourth day, he won". Oh yeah, I almost forgot: Short ES!. Si!.
Correct. I should specify my post was strictly from my perspective. The reason your statements are true is there is always the possibility that someone besides myself might find the advertisement or information useful. I'm using 'use' interchangably with 'good.' (Please avoid these word streches if possible! They are dangerous!)
You are not too far off! The Superstitious Fund: http://www.bbc.com/future/story/20120731-bulls-bears-and-black-cats
I still waiting for the Elite Traders of this site to name me one exceptional trader who has stated the reason for his success is charting. LOL. Although some find this funny, I find those who believe in magic to be funny too!
you requested where the chuckles occurred and why. P1. The market dynamic and as events pass the differential is always not horizontal. Key levels is a myth. P2. The most astute people doing high velocity capital acquisition use interelated OOE's all of which emerge from the stream of data. representations of the streams are displayed and used 100% of the time for making the most frequent decision. This decision is to "hold" and keep making high velocity capital acquisitions. P3. Anything, I mean anything, can be used to make money. All that is done is crunch the data stream. Read Behavioral Finance. Here you could see for the first time just how getting really good at using tools of the trade works. P4. I went short on bar 67 today. I am going flat on the bottom of bar 78. I have 10 accounts. the SEC takes the trouble to monitor me all the time. They do believe I get my info from others who know what is going on. My profile is "insider trader". I really laugh at your words here. You are so so "out of order". P5. The most expert stuff is free available and supported. You spent money on poop. Why? You are ignorant. I think you are funny in this paragraph. there are so many people saying they are like you. P6. These people you mention do not acquire capital at a high rate. They can't. One invests the other talks. You are not like either of these people so you could do better to not just be a comic. Get rich fast. then be a comic. Spending time reading either of these people is humorous, unless you are rich and want to waste some time. Charts are new in trading. They are biblical in the empowerment they provide. their greatest asset value is the space they provide for taking notes. You can also annotate them. I was just thinking what you would do if you saw my chart for today. I know andrew Lo would just pee his pants. Thanks for all the laughs.
=========== True, thanks; but ''prediction' simply does not work.Even with billions ,JPM/J Dimon,Bunker Hunt could not ''predict '' price of silver. I like both of those gentlemen, so no offence intended. Bottomj line -its not about ''prediction''; its about probabilities. OK, Bunker Hunt did corner[not'' predict'' ]the soybean market long ago, but he got a $500, ooo fine , peanuts size fine on 26 million /+ soybean contracts , However regulators take position limits law serioously, and Mr Bunker, like JPM, got a negative regulatory ''pay day someday''-they NEVER forgot.
Bingo! If you look at the trappings of success--- I have never seen a chartist who lives well from trading with charts-- although I know many succesful traders with great lifestyles who do not believe in or use TA for trading decisions--- Obviously folks who made their money elsewhere and play in the market with charts are exempt... even the great PTJ was WAY OFF with his chart reading as witnessed in the 87 crash-- his charts were over a year off..