Freak I never saw your request. However I posted months of future predictions but you didn't understand multiple time frame reading. I made calls and traders responded and asked my why I picked a resistance level when they couldn't see anything there and there were questions about how I knew the 4 hr chart was going to pull back. The Fx thread had loads of swing calls and discussions in that. On the Dow thread I posted the top of the market in advance and said it would be a major swing down. That call was followed by more that 1000 points down on the Dow. For example... "I have been warning of a major top forming that is the most important since the lows....) http://www.elitetrader.com/vb/showt...ge=6&highlight=simplicity in ta&pagenumber=60 SWING PERFECTION Part of my purpose in this thread is to demonstrate how TA not only works to give quality signals but that it predicts the future. The prediction part is used to prepare for the signal so that when it appears rather than reacting to a new event traders can respond to something they were expecting to see. This can be mapped out intraday just as I have mapped it out on various longer time frames here. On the attached chart the pink arrow was where I said I was going short and very bearish. It looks obvious now but TA also predicted a sideways move giving long and short trades and using the FTSE it was easy to pick up the exact completion of the move. The 2-day cycle suggested the move up after the arrow would be followed by a major swing top and all of this was called in advance. http://www.elitetrader.com/vb/showt...ge=6&highlight=simplicity in ta&pagenumber=62 just saw you mentioned short again - remember 1 hr pressure is up this was a quick "kick em out" wave we caught - don't lose the overall gameplan! http://www.elitetrader.com/vb/showt...=6&highlight=intraday fx player&pagenumber=49 There are hundreds of examples over the past 7 years. You do do some searching if you are serious. and not forgetting... http://www.elitetrader.com/vb/showt...ge=6&highlight=trading the moon&pagenumber=38 But let's not get off topic. TA works for me: let's see WHY it doesn't work for you naysayers. You have to show how you have proven TA doesn't work rather than expect traders to think you are a convert out of the TA community that has seen the light. It's like they say, a little knowledge is a dangerous thing. My expectation is that I will find little TA knowledge combined with poor application masquerading as genuine TA know-how that failed. Post your charts and explain why TA doesn't work or go on ignore so I can deal with those who either want help or really can show TA doesn't work.
I contend that the exact same results would have been attained with purely random entries. The fact that the market exists proves TA is of dubious value used in the ways you suggest.
This is the funniest thing I've ever seen posted on a trading site. Please share with us how "special situations" that "will have strong odds of success and huge positive expectancy" are different from repeatable, exploitable patterns?
''special situations'' is when the swan flies and you are fooked with strong odds of success.until then,there is no problem to exploit repeatable patterns ad naseum.
The thing,you and RangeTrader suggest,only covers a couple of trades per day.To trade only a couple of trades per day i dont need to use any single indicator for that.The indicators is used,as far as i`m concerned,for the mid frequency trading,that covers at least 20 trades per day.You trade the segment until the price move on floor down or up and never comes back.This is where i get caught.Is there any indicator that telling this shift in advance?Dividing trading day into the segments(opening,midday,breakout of midday,closure) maybe a solution.Any other opinions?
When I started automated backtesting, TA started working for me. Before I tried discretionary systems, but double guessing each time you had a loser. It is easy to backtest automated, and get the same result each time you run the same test. But with manual backtest you waste too much time, and get errors. I have found most discretionary traders use only manual backtesting and keep changing parameters. That's why I think if you go discretionary, you will lose. Also I think most daytraders are discretionary traders. Summarized, daytraders are losers, because they are discretionary traders that manually backtest.
Yeah it does⦠What TA doesnât.., doesnât show me; What has happened The potentials of what could happen What is happening What will happen (However as Iâve ingrained the mind set to never predict â I simply donât get hung up on this one) ----------------------------- Hereâs a thought; For those of you struggling with T/A may I suggest the following; Simply start with the potentialsâ¦, and eliminate em down to the eventual Of course then youâll be faced with accepting and acting on that eventual â but that IS a whole separate discussion RN