Old thread ..... but I totally agree with the member above who said its a marketing ploy ....
Most of the strategies that you see in forums and the internet will simply not work ..... no matter what money management , psychology, discipline , stop loss etc. you employ.
To win first thing you need to have is a profitable strategy which has an edge (positive expectancy) and then after that you need all the other aspects I mentioned above.
Let me give you an example.
TA has no predictive ability imho when one squiggly line crosses another squiggly line it can not predict anything whether MA's or oscillators or whatever. It has zero predictive ability and if you trade that way you may win for a while just out of randomness but if you trade long enough you will lose all your money.
There is an exception though i.e. the long term trend following pure TA systems do appear to exhibit an edge but you must be well diversified to trade them if you are to profit.
Now lets consider where TA can help ....it can help us if we have a bias or an edge.
So anyway just in case you didn't know the pair you should have been trading this past many months is the Eur/Chf. why? because it has a clear edge since over a year and hence you have a very high probability of profitability although that edge may now be nearing its end. You didn't even need to trade anything else.
Now to exploit that edge we can bring in all out TA tools for entries & exits, and we can bring in money management , psychology etc. but TA by itself can not provide that edge.
Most people (not all) are lost in the technical analysis jungle they are looking for the wrong thing and going in circles. Some are even fooled by randomness for a while.
