Well, as I'm sure you know, one trade does not a consistent method make. You didn't answer the question about whether your method was consistent using TA over a substantial amount of time or not. I'll take it your method wasn't. I didn't "believe" in TA until I had a year of consistent profitability, day in and day out. Sure I made some mistakes along the way, but once I proved to myself through growing my trading account that I could make proprietary TA work, then I believed in it's value. This was in late '98. Haven't looked back since
Exsqueeze me, brother Black but the sales are reflected on the chart. The sales are real; that's why the chart is real. T&S is PA. PA is TA. And, the sky is blue. And, if A=B and B=C, then A=C. It's not that hard to understand.
WRONG. Did you read my prior post? "Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements." Most people seem to associate charts with TA, but any analysis using price as the sole input is technical analysis including using the T&S and what happened right NOW or one second ago, whether that is displayed on a chart or using a DOM or T&S.
Brother Faire, they just don't know because they simply haven't put in the time and effort it takes to understand the nature of PA. The writings on this thread make many things so apparent. I'm not saying anyone here is stupid, just unaware...There's a big difference.
Well then that just digs your camp in an even deeper hole. No good practitioner would aver attempt to forecast. If thats what TA is for - forecasting, then thats why you cant make money with an approach based on TA. You see a competent person does not predict or forecast the market. He/she simply manages probabilities and outcomes. Sorry, but you really lose face when you (and BSAM) state that T&S and DOM are also TA. They arent. The fact is, you & BSAM have realised the error of your thinking and are now trying to move the goal posts of what TA is. When you read any TA book (drivel), nowhere do they mention T&S, DOM etc. NO WAY JOSE!!