DislikedIf TA offers no better probability than 50/50, and your trade P/L has no bearing, then what is the basis for your exits?
(Hopefully that's a valid question; I'm not trying to be a smarta$$.)Ignored
Absolutely valid, Hanover. I, like you and many others, use TA for entry and exit criteria, the only problem is that it only works some of the time. Sort of like predicting whether the next toss is a head or a tail.
What seems to increase the probability of TA working appropriately are real world events. A fine example is the FED's Aug 31st approval of China's 10% stake in Morgan Stanley. If you were strictly looking at price, TA was saying south. Obviously, that's no longer the case.
Without real world events, TA is a complicated coin toss. That's all I'm willing to discuss about the TA subject, otherwise we're having another random/nonrandom discussion... and I'm pretty sick of those.
P.S. - for the record, I know that you don't have a single smart ass bone in your body.