How can you even claim that technicals matter?

Discussion in 'Technical Analysis' started by farmerjohn1324, Jan 30, 2020.

  1. _eug_

    _eug_

    I don't think TA is what moves the market at all. Moving average cross over or over sold RSI doesnt mean anything at all and doesnt make people buy or sell unless you are rookie that just read his first trading book. Proper Price Action analysis allows you to make an educated guess about where possible liquidity levels exist based on what has happened in the past and then you can look at how price reacts in the now to make your decisions.
     
    #171     Jan 31, 2020
  2. NQurious

    NQurious

    We're all really great folks in person. You're confusing our internet personae for real life.

    I think I agree with you: TA indeed cannot do what you say it cannot do. It is not predictive of anything, and certainly not events outside of the market that have nothing to do with human behavior.

    But it sure can make you a lot of money nonetheless doing what it is perfectly capable of doing. I'm sure someone somewhere in these 170+ responses has brought this up, but if you were to replace "prediction" with "probability" and you were to limit TA's scope to market activity rather than market external events, then you'll move toward an understanding of the value and use of TA.
     
    #172     Jan 31, 2020
    murray t turtle and speedo like this.
  3. NQurious

    NQurious

    Nice to see ET hasn't changed at all. Has anyone figured out Dest's new nick?
     
    #173     Jan 31, 2020
    zdave83 likes this.
  4. speedo

    speedo

    This is the Nth iteration of this topic initiated by the OP. In the beginning he was given no lack of well intended comment but he is stuck on a faulty premise....a clear case of marketsurfitis.
     
    #174     Jan 31, 2020
  5. speedo

    speedo

    Don't think he is back yet.
     
    #175     Jan 31, 2020
    NQurious likes this.
  6. NQurious

    NQurious

    Meanwhile back to the lows ...
     
    #176     Jan 31, 2020
  7. speedo

    speedo

    Pretty damn clean trend also.
     
    #177     Jan 31, 2020
    NQurious likes this.
  8. NQurious

    NQurious

    When someone posts a trade in real time that happens to be a winner, and someone from the gallery asks, "But how did you know ..."

    I'm like Sargent Schultz: "I know nothing!"
     
    #178     Jan 31, 2020
    nooby_mcnoob likes this.
  9. speedo

    speedo

    :D
     
    #179     Jan 31, 2020
  10. So I should start learning "price action analysis" instead of trying to make use of TA?
     
    #180     Jan 31, 2020