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We are attempting to measure or determine fear/greed, mass psychology with tools of a very subjective nature.
Hardly clear cut.
---- Original Message -----
From: Jose Silva
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Sunday, March 11, 2007 10:06 PM
Subject: Re: [EquisMetaStock Group] Does TA work?
Well, that's exactly the point, Richellen. A hammer and saw will always
work, but not always as intended by the user. The same applies to TA
tools - it all depends on how well they are understood and applied.
Give the hammer and saw to a total idiot, and see what the outcome is.
Give TA tools to the inexperienced, and the result is likely to be
confusion and loss of capital.
Give TA to a clueless charlatan, and you can multiply confusion and loss
of capital 100-fold. This is the reason there are laws in some countries
against handing out financial advice by the inept - not that they always
protect the public...
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "richellen" <richandellen@xxx>
wrote:
>
> This is a nonsense analogy..I've never seen a situation where a hammer
> will not drive a nail or a saw won't cut a piece of wood.
> Any indicator should be as reliable. We can only hope.
>
>
>
> ----- Original Message -----
> From: Jose Silva
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Saturday, March 10, 2007 9:15 PM
> Subject: [EquisMetaStock Group] Does TA work?
>
> Technical Analysis (TA) can be both a time-saving tool and an extension
> of a trader's own abilities. Unbeknown to some, it is not an effortless
> shortcut to profitable trading, its is not an ATM, and nor is it the
> Holy Grail.
>
> TA is a tool like any other, useful only to those that can put it to
> good work. Often, sweeping statements are made such as "TA doesn't
> work".
> What I read there is, "TA doesn't work for *me*, because either I don't
> understand it, and/or I don't have the skills or experience to put it to
> good use, and/or I'm waiting for someone to do my homework and explain
> it all to me".
>
> For an analogy to TA tools, take the building tools of a good tradesman:
> hammer, saw, nails. Given enough experience and skills, there is a good
> chance this person could build a simple house with his tools. I see this
> where I live.
>
> Now, along comes anonymous amateur handyman Blow Joe, and saturates a
> tool forum with sweeping statements such as "building tools don't work,
> they cannot be profitable, you cannot build a house with them, they've
> been fail-tested by professionals, the saw doesn't work anymore, blah,
> blah, blah."
>
> TA does work.
>
> It works for those who are prepared to put the time and effort to
> understand the tools and use them appropriately. Beware of charlatans
> that come to a TA forum and claim otherwise.
>
> jose '-)
> http://www.metastocktools.com
[Non-text portions of this message have been removed]
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