Is Technical Analysis a farce
- Thread starter anuragmunjal
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Anurag, I am not sure if you want to search TA who makes money.. to change your opinion.. I would rather serach for a successful trader and find out what he does to make money.. Because I want to be successful Trader. Let Tech analysts do what they feel is good for them..
In my view, I would spend more energy to learn/find out about the goal that I am working toward, the route I am taking towards. Rather then spending time on other routes.
Does it make sense to find a software developer who has written world's best trading platform and find whether he is good trader or not ?
Software development is another profession and trading is altogather different.
Selling information (so called tips) is different business then running personal trading business.
All the best.
Happy Trading
In my view, I would spend more energy to learn/find out about the goal that I am working toward, the route I am taking towards. Rather then spending time on other routes.
Does it make sense to find a software developer who has written world's best trading platform and find whether he is good trader or not ?
Software development is another profession and trading is altogather different.
Selling information (so called tips) is different business then running personal trading business.
All the best.
Happy Trading
During the last 15 yrs, everybody has been a successful trader because the FII and global boom kept pumping money into our markets creating a bull run. My 50-yr old mom also made a lot of money from 2003 - 2007. Today she is struggling to repeat the same.
Any person who feels he is a genuine analyst should try his skills in the downtrend. In the uptrend, all analysts are correct. In downtrend, they start blaming the global recession, china crack, US bank failure, etc. Actually, there are a good amount of signs for selling or going short just like there are signs for going long.
Not everyone who sits with charts and an expensive TA software is a technical analyst. Most are just idiots thinking that they are doing some technical analysis.
Whatever, you seem a bit too much ticked off.
Any person who feels he is a genuine analyst should try his skills in the downtrend. In the uptrend, all analysts are correct. In downtrend, they start blaming the global recession, china crack, US bank failure, etc. Actually, there are a good amount of signs for selling or going short just like there are signs for going long.
Not everyone who sits with charts and an expensive TA software is a technical analyst. Most are just idiots thinking that they are doing some technical analysis.
Whatever, you seem a bit too much ticked off.
Dear friends
just browsing through some of my posts I chanced upon this long lost thread which I had started an year or so back. in this one year I learnt quite a lot from this forum, although my views about technical analysis have not changed much since then. there definitely are a few people here who make money using TA but I beleive that people who are disciplined and hardworking would make money whether they use TA or not.
I personaly believe that trading successfully all you need to watch is pure price action and nothing else.
there have been a group of select few people who have made tons of money frm the market without using any kind of TA in the past 10-15 yrs. the method used by them is what we now commonly know as btst (which incidentaly today is used and abused by most of the brokerage houses). if any of u guys is interested in knowing the origins of this method and the way it was used to make money in the mkt, I would be glad to share it with u. the method is effective even today although it has lost most of its sheen due to its widespread use and abuse by major brokerage firms.
regards
Anurag
just browsing through some of my posts I chanced upon this long lost thread which I had started an year or so back. in this one year I learnt quite a lot from this forum, although my views about technical analysis have not changed much since then. there definitely are a few people here who make money using TA but I beleive that people who are disciplined and hardworking would make money whether they use TA or not.
I personaly believe that trading successfully all you need to watch is pure price action and nothing else.
there have been a group of select few people who have made tons of money frm the market without using any kind of TA in the past 10-15 yrs. the method used by them is what we now commonly know as btst (which incidentaly today is used and abused by most of the brokerage houses). if any of u guys is interested in knowing the origins of this method and the way it was used to make money in the mkt, I would be glad to share it with u. the method is effective even today although it has lost most of its sheen due to its widespread use and abuse by major brokerage firms.
regards
Anurag
Anurag,
I respect your views on TA. Whether they are right or wrong, I will leave that to you. It is just like convincing someone whether "God" exists or not. Some would say he exists as miracles have happened, others would argue sighting the scientific evidence that God is a mere creation of a man himself.
Anyway, for someone to make money in the market, neither FA is important nor TA. The only thing that matters is "Edge". Now, how one gets that edge is a different story altogether. I have seen Statisticians become excellent traders and have also seen some CMT's being excellent traders. It is one of those questions which is very difficult to answer and very difficult to judge. Rest assured, there's one thing I can say, those who make money from the markets, never ever reveal how they do it. No book, no seminar contains the actual strategy to do it. This my friend is the reality of trading industry. And when people raise doubts about TA or FA, these smart traders, simply sit back and smile.
Tc
I respect your views on TA. Whether they are right or wrong, I will leave that to you. It is just like convincing someone whether "God" exists or not. Some would say he exists as miracles have happened, others would argue sighting the scientific evidence that God is a mere creation of a man himself.
Anyway, for someone to make money in the market, neither FA is important nor TA. The only thing that matters is "Edge". Now, how one gets that edge is a different story altogether. I have seen Statisticians become excellent traders and have also seen some CMT's being excellent traders. It is one of those questions which is very difficult to answer and very difficult to judge. Rest assured, there's one thing I can say, those who make money from the markets, never ever reveal how they do it. No book, no seminar contains the actual strategy to do it. This my friend is the reality of trading industry. And when people raise doubts about TA or FA, these smart traders, simply sit back and smile.
Tc
hi Raunaq
I have been through a few posts of urs and found them to be very informative. I sincerely have a very high regard of you.
I have been associated with the financial markets from 1992, and in these 18 yrs., I have seen a lot. I have also had the good fortune of being associated with some very successful traders.
the idea of writing this post after one year was not to belittle TA in any manner whatsoever but to bring to the notice of newbies that knowledge of macd and stochastics is not the be all and end all of trading. I have seen a few very successful traders who concentrate on studying just the behavioural patterns of masses (who trade the markets) and then benefit from that information. In the past one year I did not find anyone writing about or wanting to learn these 'behavioural patterns' which I feel provides the 'edge' that u were speaking of.
regards
Anurag
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