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Originally Posted by mrbaseball
Actually I am very open to new ideas and approaches. My way works for me but I am often adapting to new conditions. I don't think my way is the only way unlike others (ie YOU) who believe the way they do it is the ONLY way it can be done.
This is a wrong characterization. The last time you that said I listed half a dozen ways that don't work for me that others use that are valid approaches. Yet you keep saying it. Technical analysis is a confirmation biased cesspool and its practitioners fail to do basic things that intelligent practitioners would do if it were truly something with an edge. This makes it very suspect. The smartest technical analysts, the physics and math PhDs who do quant on tiny edges and speed edges that retail can't touch, openly laugh at retail technical analysis, and likely exploit their habits.
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I have always thought that trading is something you have to make your own that matches your own comfort levels and risk tolerance. Something that you personally have developed and have made your own. Ask a question. You never seem to?
I've asked you lots of questions in old threads but they seem beyond your understanding of technical analysis or basic signals analysis. Here's a few:
- How much alpha does technical analysis add to trading vs not using it?
- Do you have any evidence that support and resistance provide any tradable information from which you can extract alpha in US equity markets? (your quote above references a single study about forex, as if forex markets have any relationship to equity markets, lol). How large is the edge? Studies of indicators like support and resistance have shown no predictive ability. The tendency for technical analysts when confronted with this is to say "but it's about risk/reward setups". Sorry, but "predictive ability" encompasses that, so that's just a dodge. How do you answer that charge and that scholarship?
- How do you account for the fact that same technical patterns frequently show in random noise? What noise correction do you use?
- Do you trade technical patterns blind or do you also read market news and try to gain a short term fundamental picture? If it's the latter, like the great fundamental stock picker or news traders who consults the daily horrorscope and swears by it, how do you know it's really TA which is giving your edge?
- What statistical analysis have you done on your setups?
- You've been a commodities trader for a long time. The literature shows there are tradable short term technical patterns in commodities, vs none with an edge that beats retail fees in US stocks. Do you claim you've achieved outsized returns in US equity markets over a decent sample?
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You sometimes preach always judge and insult but never seem to ask anything? I have always been very open about my trading approaches and have even done ama threads. What is your unanswered question?
I've asked lots of questions. I'll even quote them if you like. You slide around them and re-assert.