Trading Tea Leaves

[scose-no-doubt]

For me, "technical indicator" sounds very impressive but, in fact, is a load of BS.

IMO that depends whether you look at it as a signal to buy/sell or you use it as a means of analysing the statistical significance of price movements.

 

[Hilarymannah]

I would use the analogy of a guy/girl diving off a cliff into the sea,.......
If I were to film it,.but delete the image of the cliff and sea, how would you know when the guy/gal was about to leave the edge of the cliff,..and also, when exactly he/she would make the splash ! ?
In other words,.. without the required "indicators", it would be a far more hit and miss situation,..considering the cliff and sea (market), set new parameters every day,...

You're perceived ignorance of above "simple" analogy speaks volumes,.....

 

[HowardCohodas]

I would use the analogy of a guy/girl diving off a cliff into the sea,.......
If I were to film it,.but delete the image of the cliff and sea, how would you know when the guy/gal was about to leave the edge of the cliff,..and also, when exactly he/she would make the splash ! ?
In other words,.. without the required "indicators", it would be a far more hit and miss situation,..considering the cliff and sea (market), set new parameters every day,...

You're perceived ignorance of above "simple" analogy speaks volumes,.....

A man falls off the roof of a tall building. Someone on the fifth floor with his head out the window yells up "What's going on?" As the falling man passes the fifth floor he answers, "So far, nothing much."

 

[Hilarymannah]

BTW:,....For meanies consideration,.... I meant "your",..not you're,... : )
My fingers sometimes get over excited,......ask my missus !!!

 

[Splitlink]

I would use the analogy of a guy/girl diving off a cliff into the sea,.......
If I were to film it,.but delete the image of the cliff and sea, how would you know when the guy/gal was about to leave the edge of the cliff,..and also, when exactly he/she would make the splash ! ?
In other words,.. without the required "indicators", it would be a far more hit and miss situation,..considering the cliff and sea (market), set new parameters every day,...

You're perceived ignorance of above "simple" analogy speaks volumes,.....

If the image of sea and cliff was not visible how would anyone know whether they were there, or not?

The indicator tells one what may, or may not, be there. Therefore, its only use is to give comfort to those who walk in the dark.

 

[Hilarymannah]

It's an image on a screen fool,......try and keep up !!
And the "indicator" tells a lot more folk than one,...LOL
BTW: How does the market indicate to YOU, when to buy/sell, or hold ?,..or do you just plug into the ether and close your eyes ?

Disclaimer: The information is for education purposes only, any advice given is purely for entertainment.

 

[Splitlink]

It's an image on a screen fool,......try and keep up !!
And the "indicator" tells a lot more folk than one,...LOL
BTW: How does the market indicate to YOU, when to buy/sell, or hold ?,..or do you just plug into the ether and close your eyes ?

Disclaimer: The information is for education purposes only, any advice given is purely for entertainment.

It's not about about keeping up, "old chap" It's about keeping in front. That way the dust stays out of your eyes and you can keep them open.

 

[Hilarymannah]

"It's not about about keeping up,"

Splitlink,..... calm down, you don't have to convey your stammer with type,... relax,..listen to that music,..it was for your benefit !! : )

 

[Splitlink]

No, I'll pass on that, if you don't mind-

Good trading, next week.

 

[wackypete2]

While you guys are arguing the value of tea leaves, I've decided to put them to practical use to prove they work.
I have my chart set up with MACTEA histogram, coupled with SIPport & ResisTEAnce lines, and a nice FibonaccTEA retracement.

Wish me luck,

Peter

ADDED: I looked into using a trailing stop, but I decided to LEAF that alone for now.

 

[HowardCohodas]

While you guys are arguing the value of tea leaves, I've decided to put them to practical use to prove they work.
I have my chart set up with MACTEA histogram, coupled with SIPport & ResisTEAnce lines, and a nice FibonaccTEA retracement.

Wish me luck,

Peter

ADDED: I looked into using a trailing stop, but I decided to LEAF that alone for now.

Oh the PUNishment I must suffer.

 

[Rooster34]

If the image of sea and cliff was not visible how would anyone know whether they were there, or not?

The indicator tells one what may, or may not, be there. Therefore, its only use is to give comfort to those who walk in the dark.

Serious question.
Isn't everything and indicator? If I exchange ten USD for X number of Euro's that's real. But isn't a candle a small segment of price packaged in a visual medium that we can identify with, aka an indicator? I mean it indicates what price did, or is doing. And no matter what we do when we place a trade wether we use price action or trend lines or 10 million indicators aren't we basing our actions on lagging data? the future is unknown. Therefore we use money management, position sizing, psychology, and the ability to cut losses and let winners run to make money.
So to me a chart formation, a candle, or MTF stochastics indicator are all the same.
And quite honestly I could, and have lost money with all of them

 

[forker]

Indicators are mathematically based and are completely different to price. You are comparing paper and pencils

 

[DionysusToast]

Before this turns into a TA vs other debate.

There is no reason the Tea Leaves couldn't represent Fundamental Analysis, Money Management, Position Sizing or any other aspect of trading.

 

[Splitlink]

Before this turns into a TA vs other debate.

There is no reason the Tea Leaves couldn't represent Fundamental Analysis, Money Management, Position Sizing or any other aspect of trading.

None, at all, and I am sure that many use them, especially in this recycling age,