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There is no such thing as technical analysis

  • #101
  • May 23, 2017 3:24pm May 23, 2017 3:24pm
Interesting. How do I trade/scalp without any news other than Google then?

I must be some sort of wizard Harry.
"The fun is in the hunt. Not the kill."
  • #102
  • May 23, 2017 3:29pm May 23, 2017 3:29pm
Most arguments though appear just because people are talking of different things without understanding it.

For one technical analysis could be having 5 indicators, bundled with trend lines.

For the second technical analysis might be pure supply and demand (again define supply and demand? There are diferent methods even amongst the popular ones in the retail world)

For the third technical analysis might be simple swing tops and bottoms, with a trend bias (again what is a trend? Define trend?)

And etc....
The truth is hidden from you
  • #103
  • May 23, 2017 3:32pm May 23, 2017 3:32pm
Quoting Redeflect
Interesting. How do I trade/scalp without any news other than Google then? I must be some sort of wizard Harry.
Most people will get different images when reading your post) For example some will think that you scalp from a pivot level to pivot level, some will think that you scalp with bollinger bands, some will think that your scalping trades last for seconds, or for hours.

Its a babylonian tower kind of thing going on in trading forums


Now assuming someone thinks that you scalp with pivots (even though you might use and entirely different method), and that your trades last seconds (even though they might actually last 5 hours on average). And for that person, pivots and trades lasting seconds are total b.s. he might start an argument with you about scalping.
The truth is hidden from you
  • #104
  • May 23, 2017 3:37pm May 23, 2017 3:37pm
Quoting MaxenshteinD
{quote} Most people will get different images when reading your post) For example some will think that you scalp from a pivot level to pivot level, some will think that you scalp with bollinger bands, some will think that your scalping trades last for seconds, or for hours. Its a babylonian tower kind of thing going on in trading forums Now assuming someone thinks that you scalp with pivots (even though you might use and entirely different method), and that your trades last seconds (even though they might actually last 5 hours on average). And for...
Nah, just stupid discussions between people who don't know what they want to know and others who know what they don't know.

I find much amusement from things like this; OP is so certain that he's figured it out.
"The fun is in the hunt. Not the kill."
  • #105
  • May 23, 2017 3:50pm May 23, 2017 3:50pm
Geometry describes the entire world, even prime numbers have structure.
  • #106
  • May 23, 2017 3:56pm May 23, 2017 3:56pm
Quoting Paintomaker
Geometry describes the entire world, even prime numbers have structure.
The dilema is though : Does geometry simply describe the entire world ? Or geometry is a actually such a thing which creates order in the world?

Similar to the dilema on the first pages : Does technical analysis suck because it could even be applied to a chart from youtube statistics, or is technical analysis amazing because it could even be applied to a chart from statistics ?
The truth is hidden from you
  • #107
  • May 23, 2017 3:59pm May 23, 2017 3:59pm
I guess it all comes down to predicting vs anticipating.

If we are looking towards buying when the price breaks the last swing high.

We could either be simply anticipating that the price might continue higher afterwards. Or we could be predicting that the price will continue higher...
The truth is hidden from you
  • #108
  • May 23, 2017 5:36pm May 23, 2017 5:36pm
Quoting MaxenshteinD
{quote} The dilema is though : Does geometry simply describe the entire world ? Or geometry is a actually such a thing which creates order in the world? Similar to the dilema on the first pages : Does technical analysis suck because it could even be applied to a chart from youtube statistics, or is technical analysis amazing because it could even be applied to a chart from statistics ?
Technical analysis can be used to help people make decissions. That's why you don't want to make it very complicated for trading, you need consensus from a fair amount of people to sell or buy something.
  • #109
  • Edited 7:21pm May 23, 2017 6:54pm | Edited 7:21pm
With technical analysis you have to determine if you have a strategy that produces a profit. This involves developing a strategy and backtesting it until you have accumulated 100 backtested results. Of these 100 backtested results how many results were profitable e.g. 65 profitable 35 nonprofitable. So you now have a strategy that is profitable 65% of the time. Now develop your entry and exit rulles based on your backtested results. Now forward test the strategy until you have accumulated 100 results based on your entry and exit rules. Of these forward tested results how many were profitable e.g 70 profitable 30 nonprofitable. So now you have a tested strategy that is profitable 70% of the time. This gives you confidence in your trading and an edge, if you stick to your rules. Without this information you do not know if you have a profitable strategy. If you are using an untested strategy then you are very likely to have a strategy that is very good a being non profitable e.g 35 profitable and 65 nonprofitable, a strategy that is very good at losing. Now time to develop a trading plan.
Don't wait for the wind, take to the oars.
  • #110
  • May 23, 2017 7:22pm May 23, 2017 7:22pm
Quoting GEfx
{quote} I just read a few of your posts from last October and November. Honestly, you are (among) the last trader who should offer an opinion on technical analysis, or any other aspect of trading. From your posts, I saw absolutely no evidence that you properly use, or even know any of the basics, of technical analysis. You can count yourself in the company of many failed, fake traders who, after suffering losses and becoming frustrated, have decided to thrash out at life and blame technical analysis for your failure, rather than just admit...
I just wanted to highlight GEfx post once more.


And to the OP:

Before bashing TA you should learn to use them properly. It takes a while to get the hang of MAs and fib lines. And you won't be making money when a blue line crosses the red. If thats the TA you're referring you're probably using it the wrong way. You need a lot of screen time to learn price behaviour and various patterns and just to get the feel of things. Once you've done that you'll start to see those lines in a whole different way. And that's just the beginning of TA. Wonder how much you can do with them ? Open up your screen and spend hours and hours looking at candles, price movement instead of venting out your frustration on your failed attempt to make millions when a blue line crossed the red and now you're dismissing the whole TA for your failure. What a joke.
...
  • #111
  • May 23, 2017 11:33pm May 23, 2017 11:33pm
Quoting Nabz
{quote} I said none of those things, I've had very good experience with almost all the brokers I traded with. Never complained about stop hunts, because they don't exist. So, stop making things up. I am just showing you the fallacy of technical analysis. Its all in your mind, its an illusion. I am not blaming anyone, because I haven't failed. I'm a very profitable fundamental investor. Making a living out of trading based on technical analysis is a pipedream. I know this is a very unpopular opinion as it plays with hopes of people.
Yeah, uh, no. You're just doing it wrong. If you took the time to learn HOW it works then you could have a legitimate discussion about it rather than look like a fool in front of everyone. Why not just draw smiley faces and animals on your charts since you don't know how to make sense of them anyway? Maybe you'll feel better about failing.
"The fun is in the hunt. Not the kill."
  • #112
  • Jun 10, 2017 12:43am Jun 10, 2017 12:43am
Hmm. Let me guess. No Statistics class, no Calculus class, no Trigonometry class, no Quantitative Analysis class, no Business Management class, no Accounting class, etc, etc. However, without any knowledge, you have concluded that TA, the process by which all businesses operate, does not work. WOW!

Two very simple business analysis techniques that you might consider exploring, in order to look less foolish, are P/L lines and Correlation and Regression analysis. These are the basics of TA that are extrapolated onto graphs. As a trader, you have the graph, so your job is to the reverse the graph into P/L and C/R. If you cannot do that, it does not mean TA does not work. It means you do not know how to do it. Big difference.
You cannot be extraordinary by being normal
  • #113
  • Jun 10, 2017 1:14am Jun 10, 2017 1:14am
I like to eat stew meat
she likes to eat fish
they like to eat BBQ meat
my family like chicken served on lunch
oh .many people eat beans that it is full with protein...
in some lands they like to boil eggs
and on another lands , fried eggs are so welcomed more than boiled eggs.............................................

wow..... we all like to eat protein but in different models and types

same as TA

i see the chart in different mode compared to your mode and of course it will be different than many others opinions...

TA is just a way to express our feelings and ideas and thoughts about something happened in the past....

for example, you enter your house and you find on table empty plates with smell of cooked meat with potato ... first thing you will think did they enjoy the meal, while another one will say did they kept for me one serve or not, while another one will say in his mind why the plates are not yet cleaned..... and this is TA

each one of us sees the TA in different way than the others...

i see the price action up, to the support, and you will see it might go south due to ...xyz points... and so on.

i hate TA and I hate fundamentals and i hate forex too much because it is boosting our hormones to maximum limits when we trigger the deal.... i do not think it will lose if i follow that guru analysis , but it did failed and i lost then my thoughts to accept the TA from that guru was not good, then i should follow that lady guru in the another site as she predicted correctly this time the direction, but wow , on next time i followed her points, i lost again..., ahh what should i do...

stop trading forex...

you have decided to enter the lions den so you must be brave to learn the TA and the fundamentals and the tricks of forex all, but you will not memories all as you are just human have limits, and you will not compete with the strong servers trading against your trades...

TA is just a method to express your action to what happened and you expect the better to happen, but this is wrong, YOU MUST EXPECT THE WORST TO HAPPEN TO WIN...

I AM SORRY, I AM REALLY SORRY..... TA IS JUST A WAY NOT HIGHWAY
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #114
  • Jun 10, 2017 1:29am Jun 10, 2017 1:29am
Quoting daivid40
Someone used to post a picture of a guy pissing in these kinds of situations. Where is he? It's time he posted that. lol Why do you guys fighting over BS. I think some guys think their reputations are on the line here on FF if they don't win at any BS arguments. Who cares!! No one gives a damn about reputation here. The only thing that is important is your account balance. If someone thinks something is true and if they want to help to enlighten something they can only try to do so. If the other guy accepts and wants to know more you can keep on...
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #115
  • Jun 10, 2017 1:45am Jun 10, 2017 1:45am
Technical analysis is a guided method to intepret how you view the market. So yes it exist.
But does it work? This depends on whether your guided method has positive statistical edge on the market.
  • #116
  • Edited 9:50am Jul 5, 2017 9:39am | Edited 9:50am
Quoting EcoTrader
{quote} yes and no. Yes when i trade an individual news release but then again i still do that very differently. I base stops and targets on the context of the news release and the average daily range. This can offer a 1/1 or 2/1 but i don't go beyond the average and therefore don't over scope. No on longer term trades where i target percentage change in price and this is typically greater than 3/1 but not on a single trade but many trades in the same position (taking targets and getting back in later). I am still trading a yen position that i started...
hi dear, could u mind to tell us how to know which strongest n weakest pairs? whats is options dates? btw, is premium news really different than the free/public one?
  • #117
  • Jul 6, 2017 3:28am Jul 6, 2017 3:28am
Quoting Nabz
I was a firm believer in technical analysis (TA), and based my trades solely on it. But slowly, I've come to see the light that there isn't any such thing. First time I doubted technical analytics was when I saw a video where a guy was doing technical analysis on a picture of mountains. Yup, he was drawing support, resistance and trend lines on mountains. So, today I was looking at a chart and thought why not draw the lines and see if it connects. Its just a chart of daily watch time in minutes for my Youtube videos. There are no sellers, no buyers,...

Nobody said it was easy dude..
I live entirely from the growth of my personal trading account
  • #118
  • Jul 6, 2017 3:59am Jul 6, 2017 3:59am
Quoting Samer1970
... TA is just a method to express your action to what happened and you expect the better to happen, but this is wrong, YOU MUST EXPECT THE WORST TO HAPPEN TO WIN... I AM SORRY, I AM REALLY SORRY..... TA IS JUST A WAY NOT HIGHWAY
Rather apt!

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #119
  • Edited 6:22pm Jul 6, 2017 5:42pm | Edited 6:22pm
Quoting Nabz
So, today I was looking at a chart and thought why not draw the lines and see if it connects. Its just a chart of daily watch time in minutes for my Youtube videos. There are no sellers, no buyers, no one looking at lines to make decisions, no pending orders hitting at breakouts. Yet this chart looks exactly like chart of any financial market. Technical analysis is the biggest bullshit fed to the masses. You will see what you want to see. {image}
This thread is hilarious and definitely made me laugh. That said, to the OP, I can understand why you have given up on TA. It's pretty darn hard, but it doesn't mean it doesn't work just because you don't understand it. It's not like conventional finance where things are based off of logical assumptions and mathematical calculations similarly to fundamental analysis, but think about it this way. Technical analysis is based on price patterns. You don't need a chart to recognize price patterns. There are tape readers that do the same thing with no chart at all. There are quantitative traders that do the same thing with only mathematical equations. The one thing they all use is price patterns. Charts are just a graphical representation of price behavior.

Also, I might add, you saw a trend in your youtube video minutes. There's nothing magical about that. trends exist in everything.
  • #120
  • Jul 6, 2017 6:18pm Jul 6, 2017 6:18pm
The only question is : what do you want from life ?

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Don't give up on your dreams. Keep sleeping.
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