timsk
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According to Dan Zanger - T.A. Works Rather Well!
There is an article in the latest edition of Traders' magazine about Dan Zanger, a U.S. based equities trader who turned $11,000 into $42 million in two years. If you don't subscribe to the magazine, you can still read the interview - and many others besides - by going to Mr. Zanger's web site:
http://www.chartpattern.com/media.html#stocks
In his interview with Stock & Commodities magazine he says: "I use absolutely no indicators whatsoever. I simply rely upon chart patterns, price and volume". On a section of his site accessed from the home page entitled 'Understanding Chart Patterns', he writes: "Research has proven that some patterns have high forecasting probabilities. These patterns include: The Cup & Handle, Flat Base, Ascending and Descending Triangles, Parabolic Curves, Symmetrical Triangles, Wedges, Flags and Pennants, Channels and the Head and Shoulders Patterns. In my opinion, these are some of the best patterns to trade".
By any standard, his achievements are extraordinary. However, in my view, what is especially impressive is that he is not an 'insider' having worked as a pit trader or analyst or market maker etc etc. Before trading full time, he worked in the construction industry and studied chart patterns, price and volume in his spare time. Mind you, he studied hard, very hard, for many years so that he could spot his favourite patterns instantly in real time. His is an inspiring story and evidence that not only does T.A. work, but it works rather well.
Tim.
There is an article in the latest edition of Traders' magazine about Dan Zanger, a U.S. based equities trader who turned $11,000 into $42 million in two years. If you don't subscribe to the magazine, you can still read the interview - and many others besides - by going to Mr. Zanger's web site:
http://www.chartpattern.com/media.html#stocks
In his interview with Stock & Commodities magazine he says: "I use absolutely no indicators whatsoever. I simply rely upon chart patterns, price and volume". On a section of his site accessed from the home page entitled 'Understanding Chart Patterns', he writes: "Research has proven that some patterns have high forecasting probabilities. These patterns include: The Cup & Handle, Flat Base, Ascending and Descending Triangles, Parabolic Curves, Symmetrical Triangles, Wedges, Flags and Pennants, Channels and the Head and Shoulders Patterns. In my opinion, these are some of the best patterns to trade".
By any standard, his achievements are extraordinary. However, in my view, what is especially impressive is that he is not an 'insider' having worked as a pit trader or analyst or market maker etc etc. Before trading full time, he worked in the construction industry and studied chart patterns, price and volume in his spare time. Mind you, he studied hard, very hard, for many years so that he could spot his favourite patterns instantly in real time. His is an inspiring story and evidence that not only does T.A. work, but it works rather well.
Tim.
