is TA an ART or SCIENCE...?

[linkon7]

Linkon

Agreed, Enclosed chart (Reversal points marked in Red), though it is in narrow range also, as i mentioned "Application of Knowledge and Opportunity Trade", we can succeed. My entry will be always in Hourly Chart. Intermediate trend information i will just keep daily chart (levels) in my memory.

My exit point is always 20% per trade, so, opportunities may be less in Nifty (last 3 months almost 7 entries). But, opportunities are available in other places, needs homework.

Good Discussion and sharing of information. Any Criticism welcome.


Nirahjan

My point was different. What works brilliantly on a trending market get's jacked on sideways. One has to tone down the expectation and trade light.

We dont drop a class player from the team because of a few bad innings.
As long as its working for you and result is fairly consistent, stick to it.

The fact that you are applying it to options itself is a huge plus. The RR is always favourable..!

 

[Rish]

My point was different. What works brilliantly on a trending market get's jacked on sideways. One has to tone down the expectation and trade light.

We dont drop a class player from the team because of a few bad innings.
As long as its working for you and result is fairly consistent, stick to it.

The fact that you are applying it to options itself is a huge plus. The RR is always favourable..!

Agreed and points well taken.

 

[Steve]

With my recent foray in trading, for me, TA is how well I am able to intrepret it, with respect to market movements. Definetely not a science but more of an art that can mature with experience, which can result in a higher probability of positive trades.

 

[sumeetsj]

Setting the expectations right is the most important thing to be done.
Almost everyone here has a friend whose uncle bought some shares,
sold them 3-4 years later and went on foreign trip, or bought a car,
or something else with the money earned. Never verified though, or is
the lucky product of the pre 2008 bull run. Thats it !!

They make it sound so simple, put a few thousands, or lacs and earn,
a couple of thousands everyday.

Everyone wants to go to heaven, but no one wants to die.

Everyone wants to earn thousands (and they should be, Amen)
but no one is prepared to do the hard work.

If you are afraid to say to others that you are a trader, be it
part time or full time in the stock market, means you are not
confident of your analysis, your trading. Taking a sabbatical
in this case would be the best thing to do to yourself.

 

[AnAtheist]

IMO .....

Technical Analysis is Science....
but Application of TA on Trading is an Art ....

Regards
AnAtheist

 

[RockyTrader]

IMO .....

Technical Analysis is Science....
but Application of TA on Trading is an Art ....

Regards
AnAtheist

TA is pure Math.

 

[praveen taneja]

:rofl::rofl::rofl::rofl::rofl:

worst example of TA is here:clapping::clapping:

 

[onlinegtrash]

:rofl::rofl::rofl::rofl::rofl:

worst example of TA is here:clapping::clapping:

let me ask you guys a puzzle.

You are a drug company and you discover a drug to cure disease X.

How will you claim, the drug actually cures the disease, instead of
some other factor(simple rest/diet/exercise etc or simply body heals itself) other than drug curing that disease ?

Ans: randomized control studies
i.e we take a 100 people with disease and randomly give 50% of people with vitamin tablet,
and other 50% with actual drug. To assert that your drug works it should improve health in intervened group
way better than 50% ppl who received placebo, other wise we can say either drug never worked or the disease healed without any use of drug!

Now lets apply the same line of thought to TA.

If I replace 50% of your charts with fake computer generated random price series
Will you be able to detect all those fake charts which are plain random series of prices
against original charts ?

I think most chart gurus (equivalent to drug in above story) will fail this test!
But I do think support/resistance/price channels/Fib levels work in real charts!

 

[muinali]

i am ready to attend class (lecture) of art and science whatever it may be if i get something................

 

[Anarchist]

PT bhai gives lectures on tukka maar , TM better than TA:rofl: maano ya na maano