Point proven . . . No one can predict what "stocks" will do tomorrow but with the right environment I can tell you were price of any instument is going from a current oscillation and with what strength is associated with that oscillation.
Sorry to poke my nose into where it doesn't belong and snub at your preposterous remarks at the same time, but wasn't it you who got whipped in the 2008 maelstrom? If not TA, just what do you propound as the next holy grail, especially to a trader which most of us are?
Here is a chart from today that I think will clearly illustrate my point. There is no need to "predict" when one can "read" price direction and strength.
Prof, nice colorful chart you got there but you really need to stay away from hindsight analysis and do this in REAL TIME. That's the only way to cure a skeptic like our crazy loco, garcia.
True but that's why I trade and don't post in these threads during trading hours. One could watch those nice colorful charts for themselves in REAL TIME to validate those occurances on their own but that what constitute seeing something that would change their mind and that just would not do . . . don't cha know.
you seem to have overlooked my comment - "more and more people use it, the value of any technique depreciates." common bullshit i'm not interested in converting you or anyone else to charting, i like others know that charting works, and i've no grievance about any methods anyone uses to obtain profits, but charting Does Not 'fail to work' - for me
Wallace, It's not a debate. He doesn't trade and uses a lot of "if" statements whenever he has an opinion. The problem with his latest opinion is that he assumes in error that everyone uses TA. :eek: Lets put it this way, if everyone used TA...companies like CQG, eSignal et cetera would be doing +500 million to Billion year profits with everyone using charts. Heck, they'll be a fortune 500 company and get listed as a company "that's too big to fail" if their industry group went down the toilet. By the way, here's a sports analogy for crgarcia...if everyone knew how to throw a football and read defensive schemes...no quarterback would excel in the NFL. Mark
There's no holy grail. At least not the way you think, there are just no peanuts to millionaire profits. You have been mislead to think you can by brokers, so you generate commissions. A daytrader generates 100x or more commissions than a passive index buy-and-hold investor. In the long run (many years) the buy-and-hold investor will make his retirement, and the daytrader will be broke in less than a year.
If, if, there are no ifs in reality. If anyone knew a (now) top football move, the other team would anticipate it and adopt a defensive stance against it, thus preventing any profitability in it. THERE'S NO FREE LUNCH!