Not all is bullshit, much in the same fashion not all martial arts are bullshit. I'm more interested in those that think their "chi" or "TA" is almost magical when in fact it is not. Many patterns work quite well, as does TA, hell read my market analysis for the last week.. or even the ones for the last 3 days, go back a year if you like.. So depending upon method, time frame etc. you can make some excellent calls and good money with "technical BS".. Others take it to the outlandish realms of bullshitville and start making ridiculous calls against the greater trend which is just fucking dumb on its most basic level...
I agree. Technical analysis can be a great tool, IF supplemented with fundamentals and news. Technical analysis is basically the psychology of price action. However, Haijin seems to believe his chart readings are sufficient without looking into any recent news or fundamentals at all. This is a foolish way to trade.
I mostly agree with you. About the only place we differ is that I am more of the school of thought that the price makes the news, the news does not set the price; its strange concept I'm sure for those that may not do this 12 hours a day. Regardless I concur he seems to be of the belief that he can draw lines on a chart and will them into existence.. It does not work that way, the greater market will always over rule foolish predictions.
Where are you living?
Complete financemarket of the big players is only working with this " technical bullshit".
Look to an investmenbankers office. Do you think they do it with a pencil and a piece of paper?
Not all is bullshit, much in the same fashion not all martial arts are bullshit. I'm more interested in those that think their "chi" or "TA" is almost magical when in fact it is not. Many patterns work quite well, as does TA, hell read my market analysis for the last week.. or even the ones for the last 3 days, go back a year if you like.. So depending upon method, time frame etc. you can make some excellent calls and good money with "technical BS".. Others take it to the outlandish realms of bullshitville and start making ridiculous calls against the greater trend which is just fucking dumb on its most basic level...
I agree. Technical analysis can be a great tool, IF supplemented with fundamentals and news. Technical analysis is basically the psychology of price action. However, Haijin seems to believe his chart readings are sufficient without looking into any recent news or fundamentals at all. This is a foolish way to trade.
I mostly agree with you. About the only place we differ is that I am more of the school of thought that the price makes the news, the news does not set the price; its strange concept I'm sure for those that may not do this 12 hours a day. Regardless I concur he seems to be of the belief that he can draw lines on a chart and will them into existence.. It does not work that way, the greater market will always over rule foolish predictions.
Ha! It's the chicken or the egg scenario I guess.
True, very true, and excellent way of looking at it... :)
Where are you living?
Complete financemarket of the big players is only working with this " technical bullshit".
Look to an investmenbankers office. Do you think they do it with a pencil and a piece of paper?
Actually MIT did a study on TA and found it to be quite accurate when stacked beside FA..
http://web.mit.edu/people/wangj/pap/LoMamayskyWang00.pdf
You may want to read up on it, as the big kids to play with TA on their big kid computers..