Technical Analysis does not work - News moves markets

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0FXTrader0

Just wanted to put it out there that the charts are a scam
to get you into the market and then get you completely
destroyed 🔥 when news hits. There is not a single form of
technical's that make any sense all it is where traders were 👿
buying and selling at that time. How can that go forward
to indicate anything other than yep was buying there at
8 am so what, buy there again and news comes out and whack.
News flow drives price not where was traded prior. 📉💩
 
I agree that news flow does drive price but that doesn't necessarily invalidate TA. I suspect that there are quite a few others like myself, who do follow the news but still use charts to make a bob or two. For me: no charts = no profits!
 
From experience I can say anyone trying to teach you how to use charts or trading systems is a con man. The news flow and your own psychology are what matter not prior price action.

One windy day two monks were arguing about a flapping banner across the
shore.

The first said, ìI say the banner is moving, not the wind.

The second said, ìI say the wind is moving, not the banner.

A third monk passed by and said, The wind is not moving. The banner is not
moving. Your minds are moving.
 
Bluntly put.

But, yes, it never hurts to remind people that something is only ever 'worth' what someone else is prepared to pay you for it.

And that can change with the wind, the toss of a coin or what the buyer had for breakfast.

Many here rave on about charts and technical analysis and trends and systems.

And after all that is calculated and predicted and analyzed to death, it's people and their emotions that rule.

Need convincing? - Take a look at HSBC today ....

;)
 
A tool worth paying for is Brain.fm puts you in the zone to read and trade.

HSBC along with the European banking sector just have not recovered since the crisis like the US banks have.
 
It depends..........

TA does not work for purposes where TA would be the wrong tool. But that does not mean TA does not work.
 
If TA is giving you the confidence to put on trades so be it.
Being a discretionary trader will give much more flexibility
to trade well. But I find people using TA tend to want to build
systems so as not use there minds.
 
Bluntly put.

But, yes, it never hurts to remind people that something is only ever 'worth' what someone else is prepared to pay you for it.

And that can change with the wind, the toss of a coin or what the buyer had for breakfast.

Many here rave on about charts and technical analysis and trends and systems.

And after all that is calculated and predicted and analyzed to death, it's people and their emotions that rule.

Need convincing? - Take a look at HSBC today ....

;)
Agree with all you say. But looking at HSBC from this technician's point of view it would never have been a player (long) for me because it wouldn't have come up on my scanner. But looking at the chart anyway, I wouldn't have touched it with a barge pole after 10th February. You can say that I'm being wise after the event but that's what my signals would have told me. It could be a buy in the very near future but I wouldn't indulge it when there are so many much better opportunities available.

I'd be the 1st to agree that charts/Indicators/TA used badly are a recipe for disaster. As far as I'm concerned it doesn't matter how you make your money from trading – so long as you make it!
 
Charts are not a scam and it's speculation (which can be driven by news events) that is moving the market. And not by the little guy either but by the big institutions that hold all the chips (money). And they are algorithmically running on all cylinders so the little guy can be left in the dust if they don't utilize some more sophisticated toolsets to help themselves. using a smart trailing stop can help you determine when to exit or hedge.
 
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