Technical analysis – does it work?

[eegozi]

Here's how i trade. "Well, well, well, it's only been open for 45 mins and it's down 1.25%. I'll buy that." (Trading apps on mobile phone)

That's my TA, works a treat.

See,..this kind of useless drivel adds no productive value. It only makes you sound like a sarcastic curmugeon.

I see that you are a spread betting coach,...why dont you offer some of your wisdom rather than ridicule? Why even comment on something like TA that is not even in your area of expertise? I will not comment on spread betting because I probably know about as much about that as you do about TA.

 

[DDI]

with proper discipline and money management, yes TA can work. without them, even having insider information won't get us anywhere!

 

[flemming]

Technical analysis works every single time except for the times it doesn't work

 

[flemming]

But seriously, TA is a very broad definition of using price action to determine future prices. In all systems, it really depends on a number of things:

What indicators are you using
What time frame do you trade
Are you looking for momentum trades or reversals
What is you money management system
Where are your take profit and stop prices

This is just a few of the factors that make up TA. Most people think it is just looking at a chart, reading the MACD and pivot points and clicking the trade button. True technical analysis is a complete, comprehensive trading system from entry, sizing, exits, management, adjustments, etc. Most people don't have a clue about TA