Warren Buffet Not a Fan of the Charts - Agree or Disagree? | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

THE JOURNEY TO TO BEAT WARREN BUFFET& jeff bezos 0 replies

Lets trade Warren Buffet's 90/10 index strategy with a twist 9 replies

Charts, Charts, Charts! 1 reply

Warren Buffet said.... 2 replies

Warren Buffet Not a Fan of the Charts - Agree or Disagree?

  • #21
  • Jan 23, 2018 11:49pm Jan 23, 2018 11:49pm
Quoting dkrock
{quote} I don't need FA to see that. I should state that I am an intraday trader. FA is useless to me. A time frame is just a time frame, so I can trade the small ones over and over and over and over and over. When FA is released, I am sitting out of the market until the stop hunts finish and my tools reset their measurements. Then I go back to chasing buyers and sellers. My only interest in FA is tracking what time it is released so I am not in the spikes. Sentiment changes 2-3 times a day on average, with 4-8 profitable direction changes, so why...

Wish I could sit in your shoes and learn from you. Always a pleasure listening you. FF gem!!
  • #22
  • Edited Jan 24, 2018 12:07am Jan 23, 2018 11:55pm | Edited Jan 24, 2018 12:07am
Quoting synicz
{quote} You meant can*? Well, many people can beat a currency fund in the short-run. Just look at those FX competitions! Ridiculous gains! BUT are they able to do it over a 10 year period?
Yes, can*. Error correction/predictive text.

That's because they're trading garbage setups and getting lucky. They just don't realize it at the time. It CAN be done reliably. Just searching out a few decent ones in that 10 year period and trade them the right way at the right time and beating the fund is almost guaranteed.

I believe it was Charlie Munger who said something like "it's amazing how far people like us have gotten just by trying not to do anything stupid". Warren Buffett's words were something like "you don't need to do too many things right as long as you don't do too many things wrong". It applies to TA as well.
"The fun is in the hunt. Not the kill."
  • #23
  • Jan 24, 2018 12:32am Jan 24, 2018 12:32am
Quoting dkrock
{quote} They are just opinions. I used to trade stocks before I traded currency, so I am quite used to FA and all the panic trading. I used FA all the time for trading options, but for a long-term hold, it is really annoying. Currency is more predictable since it is based on economics. It's FA is also normally scheduled, which is a huge relief since you never know when a CEO is going to stub his toe on a golf course and cause his stock to crash. I have learned how to trade without FA only because currency is more stable than stocks. If it wasn't,...
I mostly agree. But if you look at Eur/Try over the last decade... LMFAO. Zar/Jpy is almost as funny.
"The fun is in the hunt. Not the kill."
  • #24
  • Last Post: Edited 1:11pm Jan 24, 2018 12:59am | Edited 1:11pm
Quoting Redeflect
I believe it was Charlie Munger who said something like "it's amazing how far people like us have gotten just by trying not to do anything stupid". Warren Buffett's words were something like "you don't need to do too many things right as long as you don't do too many things wrong". It applies to TA as well.
IMHO there's definitely some truth there. I believe it comes down to (1) solid analysis (and it's possible for both TA and/or FA can be used advantageously, if the trader knows what he's doing); (2) risk management/MM (not allowing one loss to wipe out multiple gains); (3) personal qualities (e.g. patience, nerve, composure, stamina, resilience, discipline, self-belief, dedication, humility, .....); and (4) an ability to 'read' the market, and knowing when/how to adapt that comes only through many years of experience.

But perhaps one often underestimated ability is that the really good traders find a way of maximizing their gains when conditions are favorable (e.g. pyramiding; recycling profits; ....) and minimizing damage (e.g. cutting losses; finding other markets/opportunities; .....) when conditions are not. In other words, a good trader with a mediocre strategy will potentially outperform a mediocre trader with a 'good' strategy.
0 traders viewing now