TA does/doesn't work thread with a difference.

[TheBramble]

Donkey, maybe you should start another thread titled "Why most traders don't use TA correctly"?

I could start it off with half-a-dozen charts where I thought I should have known better.

And that's just from this morning....

 

[scose-no-doubt]

I thought that this flamey title would attract more interest. Stupid in retrospect.

 

[TheBramble]

Was that last sentence an observation or were you simply signing off?

 

[scose-no-doubt]

Been tired for last couple days so havent had the energy to try carry on or even lulz tbh

 

[TheBramble]

Try a raw carrot. They're a healthy instant energy boost.

 

[scose-no-doubt]

Somehow they always seem out of reach.

 

[Splitlink]

Hi Split
This is what I was getting at when I said post charts of when it didn't work and we can discuss why it didn't.

I think that, when we look at a chart and see that it did not work for us, we know why. I do not kid myself that it is anyone's fault but my own. There is no point and neither do I see any point in bemoaning our failure to others. Neither do I believe that the reason for our failures can be shared . What we should have done is obvious. The reason that we did not is, IMO, purely psychological.

 

[Pazienza]

Somehow they always seem out of reach.

 

[Geofract]

Are you discussing any aspect of TA?

Here's a little AUD/JPY Rising Wedge failure.

Well I guess the orange lines suggested a reasonable rising wedge pattern, which would be bearish according to the TA books. Well I could probably find better examples of rising wedge failure, but really it doesn't matter.

Why did it fail? I don't know, nor do I think anyone can know exactly (save to say obviously the buyer came back in), and frankly I don't think it matters. Pattern failure happens often. Or patterns morph from one to another. For example an H&S can morph into a symmetrical triangle quite easily. It can be difficult to accurately identify patterns in realtime.

I have found S&R, market structure highs and lows, and looking for impulsive moves to be the most useful and reliable aspects of TA. They are also easy to work with.

I've seen some great examples of traders misinterpreting patterns. Finding H&S at market lows is a really funny one (not IHS either!).

Oh well, not sure that really helps the thread starter much, but still wanted to put in my 2c! Are you actually asking about chart TA failure anyway, or rather trading method failure?

 

[price777999]

I would say anyone who starts out trading should not touch TA until they are already profitable. They need to understand what actually drives the markets (order flow - there is nothing else. but they need to understand how that flow appears too)

Once they know what they're doing then there's no harm, and some use, in it as can help one understand the flow better...

Sadly some person who sticks £200 in a spread betting account to punt cable is unlikely to acheive any understanding, so they might as well use TA... I can't see what ELSE they could use!

see here please :smart: http://www.trade2win.com/boards/first-steps/119690-order-flow.html

 

[jimioddy]

Hi

I started a thread called "Trading from Charts" without knowing about yours, which I'm reading with interest. Perhaps you might find something of interest in the other one.
Do you know if it's possible to print/download a complete thread, which would be very convenient.

Jim

 

[scose-no-doubt]

I've read your one lol.

 

[barjon]

Hi

I started a thread called "Trading from Charts" without knowing about yours, which I'm reading with interest. Perhaps you might find something of interest in the other one.
Do you know if it's possible to print/download a complete thread, which would be very convenient.

Jim

if you go to "thread tools" on the red banner at the top of the thread page there is a "show printable version" tab.

jon

 

[scose-no-doubt]

Hello TA bugs. Anyone got any charts they fancy annotating for illustration purposes?

Markets been choppy as hell since this bad boy fizzled out. (I assume)

 

[DashRiprock]

i will do but on my schlong thread if i can get my package (lol) 2 work properly k?

 

[scose-no-doubt]

link it byatch

 

[enragedcow]

just gonna be a troll and point your attention to the strong form of Eugene Fama's EMH that all information is priced into asset prices rapidly thus no individual can outperform the market

then i'm going to make my economics and accounting levturers angry by saying "******** mr Fama!"

'tis my belief that technical analysis of price charts does in fact lead to above market returns (gets ready to be chased off campus by enraged lecturers)

 

[scose-no-doubt]

bump

 

[Devilicus]

lol

 

[Stirf]

Read the attachment. That's why TA is nothing more than nonsense with a brilliant marketing unit behind it!