NIFTY 50 future TRENDS

[sanjosedesi]

Ok, that was too tongue in cheek on my part ...

OK, spat was a strong word, but ... what amused me was your initial position sahing TAs are right, when I have seen you give the 85% accuracy number I guess 85 times, and linkon saying TAs are useless when obviously he uses TAs. The point being made was radically different ... of course ... and that was the relative importance of MM vs TA.

 

[LivetoTrade]

TA can be a hobby, or serious business.
Increase in ratio of success comes with experience.

We may use various systems for fun, but sub-consciously, we know one of them is better. Over repeated use, we put in our faith in that particular system, knowing its weaknesses too.

So, knowledge or exposure to multiple systems, focus on a comfortable system, faith in it allowing leeway for its weakness, can help a trader increase ratio of winning trades.

 

[adityasaraf007]

Oh my God...... I made that comment on a lighter note.... as a humor and went away.... and all of you took that so seriously.....

The reason Linkon Sir has said TA is useless because one analyst (Paul Sir over here) would look at the Price chart (Ichimoku - TA) and say its headed south and the other analyst (Linkon Sir over here) would look at the same Price chart (Market Profile - TA) and say its headed north...... So, the chart shows what we want to see and hence TA is useless......

PS: Wanted to thank all the posts but........

 

[4xpipcounter]

Regardless of the words you use, I think everyone here knows you are one of the easiest going members here.

When I hear "TAs are useless", I'm probably getting involved. After all, TA's has made my career in trading what it is. That is my passion.

I know Linkon was sharing his view, and who is not going to respect his view? I might be mistaken, but I think after his last post, and my response, the context has been straightened out.
Someone might say that the interpretation of TA's are right a maximum of 85% of the time, so they are useless. Someone else comes along and says, "TA's are right 85% of the time, and they are making me a good living."

A Q did arose when the thing with MM vs TA came up. But, each individual's perception of the markets changes as you get deeper in your career.

OK, spat was a strong word, but ... what amused me was your initial position sahing TAs are right, when I have seen you give the 85% accuracy number I guess 85 times, and linkon saying TAs are useless when obviously he uses TAs. The point being made was radically different ... of course ... and that was the relative importance of MM vs TA.

 

[4xpipcounter]

Sooo...Adit. Your the trouble maker.

Actually, I've enjoyed the conversation. Linkon has a deep mind, and I like looking into it.

Here's something else that has dawned on me while writing. Personal perceptions of the markets makes TA's useless to many. To some, just because personal perception are wrong, it dopes not make TA's useless.
I've even said, if you are consistently wrong, then you need to go back to square 1 and review your methodology.

Oh my God...... I made that comment on a lighter note.... as a humor and went away.... and all of you took that so seriously.....

The reason Linkon Sir has said TA is useless because one analyst (Paul Sir over here) would look at the Price chart (Ichimoku - TA) and say its headed south and the other analyst (Linkon Sir over here) would look at the same Price chart (Market Profile - TA) and say its headed north...... So, the chart shows what we want to see and hence TA is useless......

PS: Wanted to thank all the posts but........

 

[Piratetrader]

I can't find it but where is the post that says TA are "useless" ?

 

[Piratetrader]

Sooo...Adit. Your the trouble maker.

Actually, I've enjoyed the conversation. Linkon has a deep mind, and I like looking into it.

Here's something else that has dawned on me while writing. Personal perceptions of the markets makes TA's useless to many. To some, just because personal perception are wrong, it dopes not make TA's useless.
I've even said, if you are consistently wrong, then you need to go back to square 1 and review your methodology.

Sir how can T.A be useless to someone also ? ! Even trading based on fundamental would require Some T.A Knowledge to make a trading decision some high lows and lowers lows Support Resistance to set SL,TP entry all that? Sir you know I was 100% fundamental as you can see in my first thread and my first post here but that lead me to bankruptcy today I am 100% technical and you already saw my zulutrade after that ! I don't know how can T.A be useless to someone !?

 

[4xpipcounter]

Saif, if you read my previous posts, you will see that it is my opinion that the term "useless" is a matter of semantics. Unless Smartrade has further comment, I'm counting everything resolved.

And yes, I've seen your account, and you have turned things around through using the ichimoku cloud, TL's, et al.

Sir how can T.A be useless to someone also ? ! Even trading based on fundamental would require Some T.A Knowledge to make a trading decision some high lows and lowers lows Support Resistance to set SL,TP entry all that? Sir you know I was 100% fundamental as you can see in my first thread and my first post here but that lead me to bankruptcy today I am 100% technical and you already saw my zulutrade after that ! I don't know how can T.A be useless to someone !?

 

[linkon7]

Sir how can T.A be useless to someone also ? ! Even trading based on fundamental would require Some T.A Knowledge to make a trading decision some high lows and lowers lows Support Resistance to set SL,TP entry all that? Sir you know I was 100% fundamental as you can see in my first thread and my first post here but that lead me to bankruptcy today I am 100% technical and you already saw my zulutrade after that ! I don't know how can T.A be useless to someone !?

When i say, TA is useless, i mean, TA is useless without proper money management. TA contributes about 20% to the success of a trader. The other 80% is trade management. If you look at the back test result of any good system, you'll see that 80% of the profit has come from hardly 20% of the winners. a good system will have a strike rate of about 50-60%. Do the math...!

Out of 100 trades taken with the system, 60 are winners, 20% of those winners means, 12 trades. Now, if you mess up the exits of this 12 trades, you end with a below average system. Leaving profit on the table is very emotionally challenging. Bigger challenge is taking the proper exits on the balance 88 trades. You mess the exits on even few of those, you have a failed system on your hand....!

A good exit is only clear on hindsight. Real time trading involves fighting the urge to be right, fear of loss, fear of profit vanishing in front of your eyes, fear of stop loss getting hit....!

To be a successful trader we have to play the game on a whole new level...!

 

[shinchan]

Very very true:thumb:

When i say, TA is useless, i mean, TA is useless without proper money management. ............
...............

A good exit is only clear on hindsight. Real time trading involves fighting the urge to be right, fear of loss, fear of profit vanishing in front of your eyes, fear of stop loss getting hit....!

To be a successful trader we have to play the game on a whole new level...!