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How many of Technical Analysis based systems are junk?

  • #61
  • May 9, 2007 1:55pm May 9, 2007 1:55pm
I think Bytebodger and blueruby are on the right track.

What information do you think a particular indicator should provide to you?
  • #62
  • May 12, 2007 7:54am May 12, 2007 7:54am
I dont know about indicators because I dont use them (I trade via price action off levels of support/resistance), but I reckon a wise combination of Moving Averages can indeed help determining the health of the trend. Not the trend in itself, but the health of it. I certainly use them myself.
  • #63
  • May 12, 2007 9:57am May 12, 2007 9:57am
Quoting TopTick07
What information do you think a particular indicator should provide to you?

personaly to confim why price changed direction. and to get more closer view on the market pressure(RSI) and helping to regognice current more importat fibonacci points.
  • #64
  • May 13, 2007 6:19am May 13, 2007 6:19am
WTB, SMA's are the only thing worth while I've been through everything else that is there all crud.

60mins SMA calls the trend perfectly for GBPUSD at the moment, and S/R nicely.

12 and 24hours are both very strong SMA's for S/R/Trend ( 5min chart 144SMA 288SMA )

Also Envelope 144SMA 0.50Dev, as a OB/OS indicator is unbeatable, bounces off this level without fail time and time again, only 2 or 3 occurances recently when it's moved beyond this.

But do you class that as TA ?? I don't, as well it's against TA training, interestingly, despite it working!!
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Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65
  • May 13, 2007 6:32am May 13, 2007 6:32am
Quoting Turveyd
But do you class that as TA ?? I don't, as well it's against TA training, interestingly, despite it working!!
its TA if you know why this is happening, if you look it without knowing nothing about it.?

dont be fooled that its the only way to look, then you have not looked enought.

allmost everything works, its just in the eye of the beholder.
  • #66
  • May 13, 2007 7:01am May 13, 2007 7:01am
Quoting Mother
personaly to confim why price changed direction. and to get more closer view on the market pressure(RSI) and helping to regognice current more importat fibonacci points.
Hmmm. I never saw an indicator that showed why a price changed or a turn occured. Can you give an example?
  • #67
  • Edited 7:41am May 13, 2007 7:15am | Edited 7:41am
i quess the point of the indicator is to give that why questions and to create points what gives ansfer for this.

as everyone can drive a car without knowig nothing about why it moves.
  • #68
  • Last Post: Nov 16, 2007 11:34pm Nov 16, 2007 11:34pm
What I'd really love to see are statements from people that are trading these indicator based system LIVE. We don't have enough real money statements around the factory, only claims.

What's the saying? "Money talks?"

I am not posting a live statement because I don't have elaborate claims of a great system..... However a "LIVE STATEMENT" thread would go over pretty darned well.
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