Your thoughts on an artical I just read

So it seems to me like a lot of you guys rely on TA primarily when you trade. At least I think thats what all this jibberish about resistance is about. Anyways I thought I should start to learn about it since some of you seem to do well with it. So first things first, I google it and it leads me to the wikipedia page which says:

"Technical analysis is widely used among traders and financial professionals, but is considered in academia to be pseudoscience[2] or "voodoo finance;" it receives little or no direct support from academic sources and is considered akin to "astrology."[3] Academics such as Eugene Fama say the evidence for technical analysis is sparse and is inconsistent with the weak form of the generally-accepted efficient market hypothesis.[4][5] Economist Burton Malkiel argues, "Technical analysis is an anathema to the academic world." He further argues that under the weak form of the efficient market hypothesis, "...you cannot predict future stock prices from past stockprices."


Hmm what do you think?

 

all profitable traders use technical analysis

 

I'm guessing there are VERY few academics who trade.

http://www.businessweek.com/2000/00_16/b3677113.htm

 

I think that you shouldnt ask people who never left college about a business in the real world. Ask real traders/investors.


Those that cant do, teach.

EF

 

What did these academics say about price action?

 

Try daytrading ES, YM, NQ and ER2 using only fundamental analysis and report back your results.

 

ha ha yeah, how does the old saying going? "Those who can can those who can't teach" I have no problem with teachers I think they perform a very valuable selfless service, but what I can't fucking stand is know it all dickhead college professors. Do you guys remember some of the fucks trying to teach you about the markets in college? I knew it was total horse shit so I quit!

 

I dont think TA is an end all be all but these guys above me are right try trading NQ, ES, ER2, YM, currencies, or bonds. Just using fundamental analysis, successful trading is a mixture of alot of things and TA is definitely one of them

 

Thats not true at all. There are many ways to skin a cat.

 

I've never used it or learned about it.

I use moving averages though - smoothing data over time for almost any thorough data analysis is standard, but that doesn't make it ta.