I dont care about "studies" because none of those studies approach the mkt the same way I do with respect to TA so their findings arent relevant to me. The ONLY thing that matters to me is that I know how to make TA work for me everyday. For those that havent learned what works for them, I can understand the skepticism but fortunately there are many many ways to use TA successfully. Just takes a good deal of observation. You HAVE to personalize it, I feel, in order to obtain consistency.
Im sure its like a color blind person convincing a non color blind person that color blindness dont exist. The tests are bogus. Seriously they are im not color blind.. No way.. Everyone pretends to see the numbers.. They are all informed, its just a conspiracy..
I'd go one step further and say that all analysis on its own right is worthless. It's the profitable application of that analysis which is important.
This is my secret: Put in about 15 plus hours everyday including weekends for years trading and learning about charts. its because I think about what to do, break down each losing trades, big losses....kept asking myself what I could have done to make my trading better. The only way I could have done this many hours is because I love trading and everything about it. My mind is on trading every waking hour when I have a losing day. Less when I have winning days. Then blew up a few accounts... Then last Friday when I walk out of my trading office, I just could not believe what I have done in term of money gain. how could this be SO fun and profittable??? man, LIFE IS GOOD. That is my secret.
The mkt is composed of a 'mob' of people actively making decisions and taking actions. These actions are then represented graphically in the charts. As traders we use price action, pattern recognition, oscillators, averages, etc to provide an insight into the emotional make-up of this mob and clues to it's future behavior. It comes as no real shock that the academics cannot find statistically-relevant behavior in the charts - they graphically represent the emotional behavior of humans. It should also come as no surprise that humans (some of whom have developed an insight into this emotionally-based behavior) can use these same tools to regularly harvest profits from the mkts. R
can you elaborate or at least give a hint? lines like that are really pointless.. type of thing u find people say when they really don't know the answer.. le140 I liked your post thanks for the insight..
I know of at least 5 profitable systems/methods disclosed on ET. Each system is detailed with extensive instructions and examples. Beauty is in the eye of the beholder, same goes for knowledge.
just read the first sentence of the first post... http://www.elitetrader.com/vb/showthread.php?s=&threadid=38777