My head hurts!

[Jason101]

Ok, I have just had a look at some of your old posts and I now see what you are trying to say.

You are not saying TA is useless at all, you are saying you use TA in the form of PA on a chart.

And, that chart based technical indicators based on price and time movement (rather than other chart based technical indicators based on things other than price such as volume, COT etc.) are just re-working of past price. I think we would all agree with that.

Jason

 

[QuestOptions]

Technical analysis is probabilistic and not deterministic.

How can we have successful traders swear by technical analysis and other successful traders not even use it?

I believe these successful traders share one thing in common regardless of what method they use to draw their market opinion and that is risk management.

Nobody knows what the futures is going to bring, the only thing we can do is control our risk.

Technical analysis can not predict natural disasters, government or human errors, human emotions etc...

The ability to identify a trend is a great talent but how you are positioned and the ability to identify where you are exposed is an even greater talent in my opinion.

 

[safvan]

It takes about 2 years to understand the structure of market mechanics and a life time to understand its practical implementation for profits.

Keep it simple. Eventually you will learn it. It takes a lot of time to learn and then even a lot more to unlearn before you learn steps that would actually make you money.

Follow certified success and you would get clues. In the end form your own opinions. You will lose money but eventually turn a profit and then some more which would lead to financial freedom you probably are looking for.

 

[Stirf]

Ok, I have just had a look at some of your old posts and I now see what you are trying to say.

You are not saying TA is useless at all, you are saying you use TA in the form of PA on a chart.

And, that chart based technical indicators based on price and time movement (rather than other chart based technical indicators based on things other than price such as volume, COT etc.) are just re-working of past price. I think we would all agree with that.

Jason

Sorry mate, wrong conclusion... But if that thought makes you sleep well I suggest you stick to it !

Shaka ,

Frits

 

[VendorExterminator]

Your head might also be hurting from breathing in the noxius fumes from the vendor infestation on T2W. Many don't realise the vendors are actually here living in the community, and if not identified early, can cause irreversible damage to your well-being and account. Please consult your local GP should your symptoms persist.

 

[Stirf]

Your head might also be hurting from breathing in the noxius fumes from the vendor infestation on T2W. Many don't realise the vendors are actually here living in the community, and if not identified early, can cause irreversible damage to your well-being and account. Please consult your local GP should your symptoms persist.

Very much agree to that:clap:! Here's a list of scammers you realy should avoid. Of course it's a living document, the thread is on elitetrader.com: http://www.elitetrader.com/vb/showthread.php?threadid=212110&perpage=6&pagenumber=73 (scroll to bottom of page).

Do I know about a legit educator? Nope, sorry mate

Shaka ,

Frits

 

[TylerDurden]

Hi folks,

Well, I'll chuck in my twopennyworth of thoughts on this thread.

I've been using a demo account for about a fortnight, mainly focusing on GBP/USD, EUR/USD, and USD/CHF. I don't know much about either the Fundamentals or TA, but I learnt double-quick-time about dojis and railroad tracks. As far as I can see, there is definitely something in these candlesticks to indicate indecision and possible price reversal. They appear again and again.

Hope your head stops hurting - don't read too much!

 

[Stirf]

Hi folks,

Well, I'll chuck in my twopennyworth of thoughts on this thread.

I've been using a demo account for about a fortnight, mainly focusing on GBP/USD, EUR/USD, and USD/CHF. I don't know much about either the Fundamentals or TA, but I learnt double-quick-time about dojis and railroad tracks. As far as I can see, there is definitely something in these candlesticks to indicate indecision and possible price reversal. They appear again and again.

Hope your head stops hurting - don't read too much!

This could indeed be a twopennyworth of thought... I can give you just as many doji's that don't indicate a price reversal. Doji, hanging man, hammer or shooting star it's all about your settings. Change your candle stick settings from what you had e.g. 1 minute to e.g. 10 minutes. Where is that doji you saw in your 1 minute chart?? It suddenly disappeared! It's oriental magic! But does that mean that the chance on a possible reversal has gone or does that mean that that doji was just a pause in a continuing trend? No one knows, since no one knows what the market's next move will be ! Markets move at random and as soon as you can mentally accept that you are on the right (railroad) track

Nevertheless it's all a learning curve and TA is one way to learn how not to look at the market. Everybody's input is welcome!

Shaka ,

Frits

 

[TylerDurden]

Thanks, but I kinda knew about different times for charts anyway. You sound like you have lots of experience. How long have you been trading?

Have you had any experience of correlation trading? Does it work? Got any words of wisdom on that subject for a humble newbie sadly obsessed with TA?

 

[Stirf]

Thanks, but I kinda knew about different times for charts anyway. You sound like you have lots of experience. How long have you been trading?

Have you had any experience of correlation trading? Does it work? Got any words of wisdom on that subject for a humble newbie sadly obsessed with TA?

How long? Long enough to spread some words of wisdom
Experience with correlation trading? Nope
If you apply correlation trading, the question is what index is leading? Do you always see the dollar index decreasing when the dow is gaining? Nope... Do we always see the CHF rising when gold is going up? Nope... When the dow is gaining will the S&P follow? Most likely, but when does the upward trend that the dow is in end? It might be 10 seconds after you entered a long trade in the S&P and then you're f*cked... As I already mentioned, learn to accept that the markets move at random. It's a mental issue.

I wouldn't call it "sadly obsessed". You're going the road that many have walked because vendors want you to go there. Read the attachment with this thread about TA for some more wisdom. Your advantage is that you're just starting out, that means it should take you less effort to leave the road scammers want you to take.

Shaka ,

Frits

 

[TylerDurden]

Thanks Frits.

I will watch out for the scammers. I guess this is a world where you are best off making your own judgements and finding your own path.

 

[Stirf]

Thanks Frits.

I will watch out for the scammers. I guess this is a world where you are best off making your own judgements and finding your own path.

That indeed plus try to pick some brains on forums like this one. Nice example of "predicting the market". Yesterday the YM (Dow future) opened up more than 1% higher because of the "debt deal" and now... Well now we are down 0.8% I guess that TA would have predicted that !

If you like some more info, an exercise I'll be happy to send it to you. My email address is in this vdo:

Shaka ,

Frits

 

[Jason101]

Sorry mate, wrong conclusion.. But if that thought makes you sleep well I suggest you stick to it

Shaka

Frits

Very strange reply.

In that case I have no idea what you are talking about. I don't think you do either.

 

[rawrschach]

By God, that's two posts you've made that suggest an actual understanding of probability.

Technical analysis is probabilistic and not deterministic.

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