Why does TA not work (for you)?

Excellent logic, WRB.

 

Aha!

 

You're not confused, brother Mark.
But another brother on this thread is very confused.

 

Exsqueeze me my ET brethren, but I'd like to take a moment to award a Gold Medal to brother logic for his overwhelming efforts via his many good posts in this thread.
May we only hope that his writings have helped some onlookers.

Okay, carry on.

 

TA charts are great for demonstrating and illustrating what has happened in the market. I use it myself in this regard. as Sykes does. Syke's strategy is based in INFORMATION and SPECIAL SITUATIONS-- he uses charts to illustrate what happened to educate his clients.

Charts are descriptive, not predictive---

surf

 

http://www.timothysykesdotcom/2008/...rames-by-brian-shannon-or-lose-money-trading/

"So you can imagine my surprise/delight when I discovered Brian Shannon’s (Alphatrends.net) debut book Technical Analysis Using Multiple Timeframes to be the single most accurate/honest/understandable book on charting since Steve Nison’s classic: Japanese Candlestick Charts."

That’s right, I want you to pick up a copy right the hell now and read in awe as Shannon explains how it’s not just about memorizing chart patterns—anybody who tells you that is a typically useless finance freak—it’s infintely more important to understand how variables, players and emotions align to create shockingly similar, repetitive, and, more importantly, predictable chart patterns ."


Straight from your horses mouth

 

Whoa!!!!
My computer just jumped up off the desk.

 

So if someone specifically saids "I use TA and I look for breakouts"...you're not willing to acknowledge that he/she uses TA even though you said he's profitable and verified.

Surf, we all know that profitable traders are using more than just TA. It doesn't matter if TA is only 5% of the trading plan or 75% of the trading plan. The fact remains that folks like T. Sykes uses TA and its a fact because they said they use it along with other information and special situations.

Yeah, I already know you do chart analysis because you admitted to such before in the past many years ago. Same with TraderZones and Daal. Yet, you guys share the commonality that its only for demonstration, illustration, education purposes only and has no impact in your trading decisions. Heck, even TraderZones is on record in stating for a fact that pivot point analysis, s/r analysis is very useful but is not TA.

As I stated back then in those threads when I was formerly known as NihabaAshi...you guys are closet TA users that are afraid or too stubborn to admit you're using TA along with the fact you guys back then and you today are unable to acknowledge someone that is verified via your own standards of proof (e.g. T. Sykes).

Geesh...you guys have the proof in front of you via your own words and you cleverly dismiss it all via simply saying its not TA because they (e.g. T. Sykes) are using it for demonstration, illustration, education purposes only.

Ok...I'll leave this thread alone and wait for the next one like it next year.

P.S. Its obvious that the reason why these TA debates continue every year is because folks have difference of opinion on the definition of TA and the % of it in ones trading plan to qualify the phrase I use TA.

 

Yeah, I will even look at a chart to try to time an entry. Does it give me an edge of any kind? I don't think so, if it does its certainly not quantifiable...., its more for comfort. I would never use a chart to determine whether to go long or short-- to have a bias in other words. My bias comes from the price driver system not past price action. Hopefully this clarifies my position.

I would define "i use TA" as using for directional bias on a trade. Are you long or short? Sykes for instance, already knows he is going to SHORT, his bias is established before the fact---

surf

 

Agreed charts are not predictive , but types of chart anylysis and reading context will give a little predictive help in finding direction.