DislikedAgreed, although I would have said "generalizations" rather than "semantics" (now that's getting further off track by discussing vocab semantics - yike!).
Anyway, I don't know why I made my previous post. Especially as I'd promised myself that I'd stay away from these kind of threads. LOL. Just killing time while waiting for the delayed telecast of the rugby.
It doesn't matter if something is lagging, or sometimes unreliable. The bottom line is whether (or perhaps more correctly, HOW) one can somehow use it to trade profitably.
The OP says...Ignored
the edge is not saying TA works, no it doesn't, yes it does, but person x can't use it, but person y can use it.... the edge is that DIFFERENCE between one who uses it profitably and the one who does not.
and chances are the edge is not really anything to do with TA/FA/PA/XYZA... it's likely pure luck, or elements that have not been clearly defined and which someone has simply rolled into their methods which they generalize to be TA/FA/PA/whatever and so they now proclaim that their shit works therefore TA/FA/PA works.
here's an edge that most implicitly take advantage of to a degree that doesn't get generalized into PA/TA/FA/XYZA.... don't trade at times of the day, week, year, century, whatever, that shows repeatedly that the market does not move! there! that's not PA. that's not TA. that's not FA.
who gives a shit if saturn is aligned with the moon, or there's a double-top, or a inside bar, or doji, or an upward trendline touching 5 points of the sun god RA, or whatever..... just don't fucking trade if research shows that opening a position at this time simply results in unreliable momentum that reverses itself 20 times going nowhere over the space of the next 3 hours.
where's the magic and pseudo-science? it's just research resulting in an assumption that can help keep one out of trouble and on the safe sidelines. JUST like how everyone assumes painting lines on their charts will result in forecasting the future price, EXCEPT they have not actually researched this and are purely HOPING it to be true... i.e. lazy wankers.
this whole thing is just like saying you need petrol to run an engine. BULLSHIT. you need the right combination of fuel, air, and fire, before an engine will have a chance to work. there's a little more to it than just rolling it all into one big fucking lie of an answer.
Forex Trading for the Savvy Beginner