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
While I do agree with most of your observations, I beg to differ from "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." There are forums where seniors not only reveal the complete strategies they trade but also post model trades everyday, post excel sheets of how much made in the month, also post some trades in live markets. These forums are run by traders who trade for living and do not have other hidden motives like giving seminars,paid newsletters, tips etc. And they do a really advanced and highly profitable trading.
There were some great traders here in our forum....they posted some very useful stuff but this being a unrestricted public forum, many people with different interests (some holy and some unholy ) comment on the methods with sole aim to criticise and make any progress difficult . The person who tries to post his methods starts getting a feeling that he is doing a thankless job and he finally gives up in utter disgust.
TA is not something which alone will make great traders...but there are many good traders who trade on TA...it gives you a definite edge by way of trading in the direction of longer timeframe trends, adding in profitable positions, strict chart based stoploss etc. TA is a decision support system which gives you an entry, stoploss, add points and exit from a trade. Other things like position sizing, risk control,traders psychology,adequate capitalisation,backtesting of the method in various data samples etc all play a big role in making of a successful trader.
Hope the above gives some realistic view of trading to aspiring traders and they cut their learning curve to some extent.
Best wishes,
Smart_trade