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With few exceptions, TA tools are strictly of an objective nature. They
plot exactly what has been asked of them when designed.
For example, a Simple Moving Average will always plot an exact average of
price - there is nothing subjective about this.
Only their interpretation and usage can be vague and subjective. It is at
this point where any confusion and false expectations originate, specially
by traders who misunderstand TA.
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "richellen" <richandellen@xxx>
wrote:
>
> 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@>
> 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
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