Does technical analysis work or not?

[EnlightenedJoe]

I did say making 7.5% was no mere walk in the park. So you want the bank to give you money with no risk ? That would be thinking like the beginners and that's why they lose.

My gas deal is in profit. What does it mean then ? It seems I am getting paid with reduced risk. So the key in trading is get yourself into that position where everything works in your favour. Trading is significantly more than just betting red or black.

I never said trading is about making yield. Nevertheless getting paid every day is clearly a reality. I want to make that point because the last time I said that here I got banned.

 

[timsk]

Hi Joe,

I did say making 7.5% was no mere walk in the park. So you want the bank to give you money with no risk ? That would be thinking like the beginners and that's why they lose.

My gas deal is in profit. What does it mean then ? It seems I am getting paid with reduced risk. So the key in trading is get yourself into that position where everything works in your favour. Trading is significantly more than just betting red or black.

Well, I can't say I'm any the wiser and you don't seem very keen to add clarity to the murky waters. Your prerogative of course, but it does make me wonder why you're posting. That's a statement rather than a question; I'm not expecting an answer.

I never said trading is about making yield. Nevertheless getting paid every day is clearly a reality. I want to make that point because the last time I said that here I got banned.

Assuming your previous incarnation was BeginnerJoe, then I can tell you quite categorically that you weren't banned for saying this!

Apologies to babyjake1961 for the little cul-de-sac. I'll bow out now so that subscribers to the thread can continue to discuss whether or not TA works.
Tim.

 

[EnlightenedJoe]

Waited all days for the breakthrough on oil. It happened at close. Was looking for 1 position but took 2. TA says it's going higher because resistance level is broken. But I don't buy TA.

 

[darktone]

Theres also more than one way to trade TA :cheesy:
Anyone interested in the DOAT gold indicator can drop me a pm, although it can be a bit tricky here on T2W.

Just had another short gold signal fire.
I would at this time like to remind you that although these signals have been amazing for years. No indicator can be perpetually correct.

As always, do your own figuring! :smart:

 

[EnlightenedJoe]

Took one more position as the oil moved up. No further change on the interest rate. Although on related brent crude it had gone negative. Looks to me they are just trying to discourage shorts in oil.

Sit, sit, sit, is all there is to do. But people are getting the wrong idea that my trade is only about earning interest. That ain't so. I earn interest while waiting for a winner. I want the bank to pay left right and center.

 

[piphoe]

Just had another short gold signal fire.
I would at this time like to remind you that although these signals have been amazing for years. No indicator can be perpetually correct.

As always, do your own figuring! :smart:

Not sure what you think you think you've "correlated" here in GOLD for YEARS but not much more than simple curve fitting would explain the last few months of your success .:|

 

[EnlightenedJoe]

Not sure what you think you think you've "correlated" here in GOLD for YEARS but not much more than simple curve fitting would explain the last few months of your success .:|

The idea would be to get enough people on board so that they could move the market. But the flaw in the plan is that if a whole bunch of people throw in their money. It gives the bank greater incentive to move against them.

Curve fitters continue to disregard the banks' incentive, and the curves continue to fail.

 

[darktone]

Could always drop me a pm if youre curious phoe...

 

[darktone]

So whats the plan then joe. Just get bigger and bigger and hope oil doesnt stick you one where the sun dont shine.

 

[EnlightenedJoe]

So whats the plan then joe. Just get bigger and bigger and hope oil doesnt stick you one where the sun dont shine.

Yes, I have room for more size, but not at the current price. I'll wait for them to stick me one first.

 

[darktone]

do you know how to work a position joe?

 

[EnlightenedJoe]

do you know how to work a position joe?

Work is too much effort. I know how to sit a position. Besides sitting, I also do a bit of fencing. I move only after they move.

 

[piphoe]

i'm kind of sick of cat's and their meme's, how about you.

i don't even like cats

 

[darktone]

I'll put you in the same camp as darktone, who appears to trade in a similar style to you but, equally, is a mystery to me!
Tim.

Ooo howd i miss this!!?

No, he really doesnt tim. joe thinks he knows where the markets gona go because of Inventory. with the courage this unneeded psychology gives the enlightened one, he fades the move taking additional positions mostly at breaks of resistance using the TA he doesnt believe in. managing his size is a mouse click too much like work so hes just gets bigger and bigger and is happy to sit with it. But its all ok because hes getting paid 7.5% in short oil (sometimes) on one 50th of his size in the market that he doesnt take a profit on unless it really comes his way.

Lets hope the folks that saw a bit o value at selling the 100s dont give him somethin to sit on :clover:. Or we gone see tar put up a zulu chart

 

[darktone]

i'm kind of sick of cat's and their meme's, how about you.

i don't even like cats

 

[timsk]

. . . No, he really doesnt tim. joe thinks he knows where the markets gona go because of Inventory. with the courage this unneeded psychology gives the enlightened one, he fades the move taking additional positions mostly at breaks of resistance using the TA he doesnt believe in. managing his size is a mouse click too much like work so hes just gets bigger and bigger and is happy to sit with it. But its all ok because hes getting paid 7.5% in short oil (sometimes) on one 50th of his size in the market that he doesnt take a profit on unless it really comes his way . . .

Hi dt,
I wouldn't have expressed it quite in the way that you have but, nonetheless, that more or less encapsulates what Joe appears to be doing. I've emphasised 'appears' as I admit that I don't know for sure this is what he's doing but, as he doesn't take kindly to questions seeking clarity on the issue, I've got no alternative scenarios to consider.

I know what you do is different to Joe in as much as the language you use is different. You don't talk about 'inventory' and you believe psychology is paramount and, as far as I'm aware, you don't get 7.5% daily interest on your positions. That said, looking at a chart showing your trades and one showing Joe's trades, I suspect many members would say you're both trading using similar styles and techniques. Namely, incrementally fading moves by averaging in without the use of stops. So long as you get in roughly at the right time and in the right size, your trades will turn into winners when price reverts to the mean - which it almost invariably does sooner or later.

If I've got this wrong, please do what Joe has so far failed to do and 'enlighten' me!

Tim.

 

[darktone]

Hi dt,
I wouldn't have expressed it quite in the way that you have but, nonetheless, that more or less encapsulates what Joe appears to be doing. I've emphasised 'appears' as I admit that I don't know for sure this is what he's doing but, as he doesn't take kindly to questions seeking clarity on the issue, I've got no alternative scenarios to consider.

I know what you do is different to Joe in as much as the language you use is different. You don't talk about 'inventory' and you believe psychology is paramount and, as far as I'm aware, you don't get 7.5% daily interest on your positions. That said, looking at a chart showing your trades and one showing Joe's trades, I suspect many members would say you're both trading using similar styles and techniques. Namely, incrementally fading moves by averaging in without the use of stops. So long as you get in roughly at the right time and in the right size, your trades will turn into winners when price reverts to the mean - which it almost invariably does sooner or later.

If I've got this wrong, please do what Joe has so far failed to do and 'enlighten' me!

Tim.

Still a ways off tbh tim, timing and mean reversion dont have much to do with it. Its just seeking value and you can use in anyway you choose. Discovering tops bottoms or playing a trend, its all the same. Ill cobble something together of my last play and pm you. Heiken Ashi style for added understandability.

 

[EnlightenedJoe]

Since we are helping tim with trading techniques, I might as well throw something in as well. He asked in a beginner thread: where is the bank at. Well here is where the banks is at.

The 2 red lines indicating approximate locations of my positions. The bank likes to brush against them. This is how you tell the bank is there. It's pretty much up close and personal. Of course the bank can do nothing with me since I know all their moves. If tim were in my shoes he would surely have gotten out and say to himself: phew that was lucky ! Then bank will say: phew, that's another noobie out of the way.

To make money in the market you have to know where the bank is at. TA is no use.

 

[tomorton]

Priceless.

To coin a phrase.

 

[timsk]

I'm speechless.

To coin a phrase.