T2W Bot

Staff member
1,454 54
Remember the article called Our Jack – the trader who should be a loser, but wasn’t and who should have been more profitable, but didn’t care a jot? Well, I bumped into Jack the other day which was a happy coincidence because I’d been reading a fierce argument on Trade2Win about whether Technical Analysis (TA) ‘worked’ or not. I knew Jack used TA, so I was anxious to hear his views.
“Works”, laughed Jack, “It’s just a tool, you know, which just as much ‘works’ as Alexandros’s hammer and chisel did in sculpting the Venus de Milo. No, dear boy, it’s you and me that ‘works’ not the tool.”
I thought that sounded somewhat fanciful so I asked Jack how he used TA as a tool. “I use it to make assumptions about what price might do,” he said, “but it’s how I manage the assumptions and the money that determines whether my account increases or decreases over time. Let me explain.
First, some obvious stuff, but bear with me. Price moves in mysterious ways, but...
Continue reading...
 
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jesteruk

Junior member
43 2
Re: Our Jack & Technical Analysis

Interesting article. Only question is those pullbacks on the illustration charts are pretty clean with most days having lower highs not giving many false signals. Unfortunately when you look and most charts pull-backs are messy with many days taking out previous days highs so you would ultimately have to try 5 or 6 times to get the follow through back up to the swing high which I would imagine would eat at your profits.
 

sellit

Active member
125 0
It all depends what TA tools you use and what time frames you use to fit your trading.

TA can really work if you know what to use....It will not work if you use the wrong indicators in the wrong time frames. For day traders a 4 and perhps 2 hour chart with stochastics and Fibs can work well. I can prove it to you.
 

Lord Flasheart

Legendary member
9,796 975
Re: It all depends what TA tools you use and what time frames you use to fit your tra

TA can really work if you know what to use....It will not work if you use the wrong indicators in the wrong time frames. For day traders a 4 and perhps 2 hour chart with stochastics and Fibs can work well. I can prove it to you.
go on then,im listening
 

The Leopard

Experienced member
1,877 1,020
Re: It all depends what TA tools you use and what time frames you use to fit your tra

For day traders a 4 and perhps 2 hour chart with stochastics and Fibs can work well. I can prove it to you.
No need, I know it can work well. Especially if you take off the fibs and stochastics.
 
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alan5616

Established member
671 47
A very good article

You don't have to have charts cluttered up by a plethora of indies to make trading profits. This article is a perfect illustration of that
 
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Tayto_Crisp

Junior member
39 3
Re: A very good article

You don't have to have charts cluttered up by a plethora of indies to make trading profits. This article is a perfect illustration of that
I have to disagree here. You simply CANNOT have enough lines and indicators. I am building a 3d trading movie theatre to prove it.(n)
 

Lord Flasheart

Legendary member
9,796 975
Re: Our Jack & Technical Analysis

The point is Sellit said he can prove it,so I said go on then.
ive no doubt most things can work,if MM and discipline are applied
 

Just4Fun

Junior member
45 1
Nice article

Well explained and obviously from a veteran amateur. Entertaining and informative.
 

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