Staring at a graph.

This is a discussion on Staring at a graph. within the Technical Analysis forums, part of the Methods category; Do people who are into technical analysis actually spend the whole day staring at graphs waiting to spot the various ...

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Old Nov 2, 2010, 6:46pm   #1
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Staring at a graph.

Do people who are into technical analysis actually spend the whole day staring at graphs waiting to spot the various patterns emerge? Or do they write computer programmes to tell them when the patterns are emerging? I'm not suggesting a computer programme to place the trades, but rather one to give an alert whenever the patterns emerge. Must be incredibly boring watching a graph for the patterns yourself if you don't have a computer programme, surely?
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Old Nov 2, 2010, 6:54pm   #2
 
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Re: Staring at a graph.

Hi Arbu, If your day trading and looking at 5 / 10 Min charts these patterns emerge all the time, also news coming out / figures etc day the day can fly by. There are on the other hand days when the market is flat and not much going on ! Take the rough with the smooth i suppose !
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Old Nov 2, 2010, 6:59pm   #3
 
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Re: Staring at a graph.

Quote:
Originally Posted by Arbu View Post
Do people who are into technical analysis actually spend the whole day staring at graphs waiting to spot the various patterns emerge? Or do they write computer programmes to tell them when the patterns are emerging? I'm not suggesting a computer programme to place the trades, but rather one to give an alert whenever the patterns emerge. Must be incredibly boring watching a graph for the patterns yourself if you don't have a computer programme, surely?
Yes. Yes. Yes.

Yes, some people do stare at graphs. Not all the pattern recognition the brain is capable of has been captured in algorithms and programmed into computers.

Yes, we write computer programs when we can identify and test the logic we perceive the brain is doing that spots the patterns we see.

Yes it is boring to watch a graph. Sometimes it's the advantage you have.
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Old Nov 2, 2010, 7:00pm   #4
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Re: Staring at a graph.

Arbu started this thread Thanks BG. When I've been on trading floors I've often been surprised by the amount of sitting around that's going on. That's why I've supposed that people are just waiting for these patterns. But if they're happening all the time then I suppose there's no need for a computer programme to alert you to them.
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Old Nov 2, 2010, 8:57pm   #5
 
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Re: Staring at a graph.

Trading is, frankly, ****ing boring. I consider it a bit like fishing but without mud and water.
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Old Nov 2, 2010, 9:05pm   #6
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Re: Staring at a graph.

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Trading is, frankly, ****ing boring. I consider it a bit like fishing but without mud and water.
Still, if you can get a computer to do much of the work for you, it shouldn't be too boring. My ambition in life is to get computers to make my living for me.
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Old Nov 3, 2010, 12:59am   #7
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Re: Staring at a graph.

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Trading is, frankly, ****ing boring. I consider it a bit like fishing but without mud and water.
If you were taking positions because you had inspiration, out of wisdom you've accumulated over the years, because of your sound judgement, I would think it could be very fulfilling. But if you're just looking for a head and shoulders pattern to trade off, then I think, yes, it must be ****ing boring. I suspect that the sad truth is that the latter approach is the way that works much better.
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Old Nov 3, 2010, 1:05am   #8
 
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Re: Staring at a graph.

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Still, if you can get a computer to do much of the work for you, it shouldn't be too boring. My ambition in life is to get computers to make my living for me.
Your assuming that all insights the brain is capable of can be captured in computer programs. I worked in AI (artificial intelligence), specifically pattern recognition, for a number of years, and my experience is that we are ten to thirty years from that ability.

If you can do better, the US Pentagon has several billion dollars to help you develop your ideas.
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Old Nov 3, 2010, 3:05am   #9
 
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Re: Staring at a graph.

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Still, if you can get a computer to do much of the work for you, it shouldn't be too boring. My ambition in life is to get computers to make my living for me.
Oh, sure, if your computer is trading for you and you're busy being massaged by a hot Swedish blonde on your megayacht then trading won't be boring at all.
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Old Nov 3, 2010, 3:10am   #10
 
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Re: Staring at a graph.

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Originally Posted by Arbu View Post
If you were taking positions because you had inspiration, out of wisdom you've accumulated over the years, because of your sound judgement, I would think it could be very fulfilling. But if you're just looking for a head and shoulders pattern to trade off, then I think, yes, it must be ****ing boring. I suspect that the sad truth is that the latter approach is the way that works much better.
Well, I can code stuff but I cannot code what I am looking for, sadly.

Thing is, profitable trading is very fulfilling, wisdom or otherwise. But it's still boring!!

If you find trading to be anything like, for instance, riding a snowboard down a powdered slope, then I suspect something isn't right. Perhaps, there's a gambling addiction you need to address. Increasing size is the usual argument to make it more fun - I've risked 100% of my account in the past. Was it more fun? No. It was certainly scary like in a way your wife says, "That's it, I've had enough, I'm leaving you." Neither experiences were fun.
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