Tuesday, July 31, 2007
Mid-Day Thought
Technical analysis is an excellent approach towards becoming homeless.
Comments:
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Seriously Fly, as supreme weekend blogger, I demand to know who is feeding you bunk technical analysis.
many day traders use technical analysis to lose money. It seems to only work 50% of the time and you must always wait or confirmation. Fuck it all.
If you would have sold NTRI as the MACD went bearish around 7/18, you wouldn't have lost your butt. Just a thought.
I always believed that T/A for daytraders is one of many reasons they fail. You might as well as flip a coin and then let your winners run and cut your losers quick. A penny will work fine.
TC,
As a daytrader, flipping coins does help me from time to time. Although I get better "flipping action" from a quarter.
-DT
As a daytrader, flipping coins does help me from time to time. Although I get better "flipping action" from a quarter.
-DT
I would start to argue and back it up with my win-loss ratio and earnings, but that would be like a capitalist trying to convince a socialist why their ideology is flawed.
Technical Analysis works very well for short term trading - It works well for period trading that allows certain situations to form - The Fly's Methods work very well in a whole other paradigm - neither are better or worse - the tools work best for those who are masters - although they are there for everyone - the same tools do not work for fools.
It's 11:44 here at 7200 FT altitude with 70 degree weather and 2:44 where it hot and humid
The market just flipped to the downside - I took my daily profits at 12:45 (9:45 my time) and I'm all in cash - which is how I started the day - as I finish this note I see that market is trying to get to the positive side - once again.
It's 11:44 here at 7200 FT altitude with 70 degree weather and 2:44 where it hot and humid
The market just flipped to the downside - I took my daily profits at 12:45 (9:45 my time) and I'm all in cash - which is how I started the day - as I finish this note I see that market is trying to get to the positive side - once again.
Trading on straight TA without any thought for fundimentals or market conditions is blind faith and a good way to get stung.
Entering and exiting trades without some TA can also cost traders money.
Some TA principles are based on facts and others are self fulfilling prophecy caused when a bunch of people are seeing the same signs and taking action.
Entering and exiting trades without some TA can also cost traders money.
Some TA principles are based on facts and others are self fulfilling prophecy caused when a bunch of people are seeing the same signs and taking action.
The index's like muffins in the oven
squatted to rise - near the end of the day - but they got cooked in the squat.
the 15min Bar at 12:30 and at 1:15
told the whole story of the top for the day Nasdaq and Dow (1:15)
it's when I got out.
now there are 15 minutes left and the shit is hitting the fan - Wow!
squatted to rise - near the end of the day - but they got cooked in the squat.
the 15min Bar at 12:30 and at 1:15
told the whole story of the top for the day Nasdaq and Dow (1:15)
it's when I got out.
now there are 15 minutes left and the shit is hitting the fan - Wow!
Hey Harry, I ain't complainin' but that was a lot more A than T.
And Harry, embed the freaking link next time!
It's only polite.
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And Harry, embed the freaking link next time!
It's only polite.
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