If you want to fail as a trader, study TA
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DionysusToast
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Not quite true. Positions open as we speak - with enough info for people that know the platforms to know it's not SIM.
Day Trades
A Swing Trade (I consider all positions to be one trade) - a couple of weeks old.
See - now we can both be accused of cutting and pasting in this thread.
For some reason - you think I didn't use any TA on establishing these positions. That is not true, I did in fact use TA. I just used it in conjunction with other stuff and I didn't use any indicators - which is what RTA is based on.
Let's say your decided to create a sport called "Boxing with one hand tied behind your back". Then let's say a lot of competitions were held - low key events as it's a niche sport. Finally, you become the champion.
One day, you are walking down the road and you spot Mike Tyson. You say to yourself - I could beat that guy with one hand tied behind my back.
What would you expect the outcome to be ?
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BSD
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I'm sure he would send you his picture if you asked ...
No no I'd want one from you
Well then I really don't know what all the argument was about in the first place.
All I keep saying is that any ole combo or standalone version of just TA and yeah also withour or also with indicators, TA with FA, or just FA can work depending on how you're wired, more of a left brain logical trader or more of a right brain visual trader, how you see the world, your appetite for risk / drawdown, and what time frames you wanna trade, etc.
Oh, and if I saw Mike Tyson coming down the road and he were in one of his moods I'd just drop my pants and shake my lil friend at him lol.
Assuming he isn't into guys I'd expect him to take off double quick.
If he is then I'd be in trouble.
temporarilylight
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If he is then I'd be in trouble.
I tihnk you'd be in troube either way! lol
You may have missed this DT, from about 10 pages back:
BSD
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Decide if that girl is turning clock or anti clockwise before clicking on this link:
http://www.news.com.au/heraldsun/story/0,21985,22556281-661,00.html
I'm clearly a right brainer so it's clear why I approach trading exclsuively and purely visually, and why I like my colorful indicators.
;-)
Mr. Charts
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Originally Posted by temporarilylight
DT - Im not sure if you've detailed your method at all or not, but am I right in thinking it is a little like Mr. Charts type of method? - picking stocks based on news etc and then trading them based off of time and sales info?
cheers.
News stocks only form a part of my alert list.
After that come specific set ups/charts and only then do I focus in on the third "dimension" of level2 and T&S - and that only at specific times to read buy/sell pressures. The latter sometimes provide me with a strong edge, not always.
Richard
DT - Im not sure if you've detailed your method at all or not, but am I right in thinking it is a little like Mr. Charts type of method? - picking stocks based on news etc and then trading them based off of time and sales info?
cheers.
News stocks only form a part of my alert list.
After that come specific set ups/charts and only then do I focus in on the third "dimension" of level2 and T&S - and that only at specific times to read buy/sell pressures. The latter sometimes provide me with a strong edge, not always.
Richard
GladiatorX
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I traded BAX too - Well actually i bought last night and sold the open.Not quite true. Positions open as we speak - with enough info for people that know the platforms to know it's not SIM.
Day Trades
A Swing Trade (I consider all positions to be one trade) - a couple of weeks old.
See - now we can both be accused of cutting and pasting in this thread.
For some reason - you think I didn't use any TA on establishing these positions. That is not true, I did in fact use TA. I just used it in conjunction with other stuff and I didn't use any indicators - which is what RTA is based on.
Let's say your decided to create a sport called "Boxing with one hand tied behind your back". Then let's say a lot of competitions were held - low key events as it's a niche sport. Finally, you become the champion.
One day, you are walking down the road and you spot Mike Tyson. You say to yourself - I could beat that guy with one hand tied behind my back.
What would you expect the outcome to be ?
The only reason i mention this is because the other day we traded 4 of the exact same markets... This time; i had to say something.
P.s. Its funny that you have a tradestation + IB account (as i do too) but do you have Esignal aswell ? be a major coincidence.
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timsk
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I'm only taking a passing interest in this thread as I failed dismally to grasp anything from TE's first thread and thought this one would also leave me feeling similarly frustrated. However, while I don't agree with the premise of the title, I have to admit that I used conventional TA for two trades today and had my arrrrrse ceremonially handed to me on a plate. Long at the first bloo circle and short at the second. Yes, I had stops in place, so no serious damage done. But, it reinforces something I've known for a long time: I've never been able to get my head around trading with the trend! Enjoy my (minor) misfortune folks!
Tim.
Tim.
temporarilylight
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were you trying something new today then, Timsk? Or were them trades part of your ususal strategy.....
Im sure even the fundamental traders with the secret systems dont win every day!
Im sure even the fundamental traders with the secret systems dont win every day!
N Rothschild
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N Rothschild
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always looks obvious in hindsight doesn't it! different when its just all black to your right
N Rothschild
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ive been long euros for few days now, today TA was telling me its maybe time to get out, "**** the ta" I thought..if i had of listented to how I look at TA i would have cost myself some money!
GladiatorX
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What precedents promoted your long ?
The thing about your oil comment is that, the news itself would have been hard to profit from; unless you had anticipated the results (Which from what i saw; the 5-minute bar running up to the news was down and had large volume... Was the best evidence i had)
Ofcourse; you could have shorted the momentum the news caused for a couple minutes, and even bought at the lows .... Both of which, in my view; would have been level 2/ order flow/ time/sales based trades; which in my eyes are technical.
I cannot see any other approach to that, but i'm interested in what you have to say (genuinely)
I'm not for or anti anything btw; i watch almost everything (Y) Fundamentals, economic indicators, level 2, charts & C.o.t. report all go into my decision making process
Obviously various things have stronger weighting than others, as i think you shall know; when your confident in what your doing and results are proving your ideas to be correct, you have no doubts over what your doing.Cheers
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N Rothschild
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why am i long euros? thats for me to know and you to er..never! lol
N Rothschild
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as for oil, inventories came in quite high, market sold off 100pts..ended the day higher..when you know why, you no longer need charts to trade!
elitejets
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as for oil, inventories came in quite high, market sold off 100pts..ended the day higher..when you know why, you no longer need charts to trade!
85 here we come
Prawnsandwich
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Ah come on...no offence but if your constantly on here having a go at charts and TA, the least you can do is give some indication of what your alternative is.....you dont have to give away any secrets - an outline would do
N Rothschild
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in short i look for trades that are to crowded, and look for them to "unwind" , combined with a few other cheeky little things.
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