Usually people do their due diligence, read and analyze a study first, before posting it and proclaiming it gospel. This is usually protocol if you want to be taken seriously PS Ever been to Wolfgangs Steakhouse in the 50s? I'm maybe going tonight.
No question I know the difference. These TA and price action folks claim to be objective not discretionary traders. I have no argument against discretionary trading . However when it's claimed to be objective is when it's self delusion.
Thanks, the anger alone in the TA types when their narrow view is questioned is in an of itself very telling. Just look at this Raskolnikov Registered: Nov 2008 Posts: 3811 ttp://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=122840 character who follows me around from thread to thread proclaiming the greatness of TA. Very funny stuff!
Who said it was gospel? Not me.... It's just another nail in TA's sad coffin as it breathes its final dying breaths.....
academics =! traders... if they knew how to trade, they wouldn't be writing 'research papers' anything of value by an academic never sees the light of day... objective TA exists, may not be objective to you; but it does exist. imo, your argument is equivalent to "the world is flat", and/or "the earth is the center of the universe" -- only when someone takes you out of your 2D world can you actually see it. Until then, enjoy flatland.
Effective, objective TA does not exist--- but you just keep on searching. One day you might be able to tell how many moves in one direction increases the odds of the next move reversing or being in the same direction. Untill then, enjoy pretending your random entries provide an edge. surf
Then they clearly do not understand what I do. I trade trends, intraday, that line up on multiple time frame sets. Each set that produces a trade is based on a new starting trend on that TFP. Intraday it's not noise but perhaps if you want to go over days/weeks/months etc then I guess you could look at it as noise because they are using much larger TPS's.
Again, it doesn't matter how much of a genius an academic is or how much insight they have into the topic they are writing about; if they do not have all the data at their disposal to test, then they cannot come to a definitive conclusion. The OP simply cannot get that thru his/her head.