Does Technical Analysis Really Work??

[CreditViolet]

Re: Is Technical Analysis Really Works ???

Hi CV

May be following the foot steps of some professional technical Analyst may help me. But how it could be possible.

Do not tell me follow some recommendations. I have done that also
I put my money with ACE Technical Analyst 'SURESH KRISHNAMURTHY' of InvestTech. LOL LOL. CV being Bangalorean knows about this guy.

I am following the 'SYSTEM IMPLEMENTATION EXERCISE'. The returns are not impressive. Mutual Funds give better returns than those systems.

So the world is same across the globe. It is not different than what I am seeing.

Okay.

Can anybody, disclose the system they are following and announce the trade entered by them using that system and rationale of the entry, and let them show making money out of it.

Yeah it is the same thing what 'SYSTEM IMPLEMENTATION EXERCISE' people are doing.

hi LP

I understand your dilemma but you have to understand the fact throughly that no one will put out stuff that actually works in public. That would be utter disrespect of ones work IMO. Books and courses are just a starting point , there is a whole lot of testing and real time feedback that is required to understand market dynamics.And you know what it takes time and lots of it for anyone to 'get it'. This is not a game where you can dabble and expect great results.So dont lose heart and be patient! It will click eventually.

CV

 

[CreditViolet]

Re: Is Technical Analysis Really Works ???

Can anybody, disclose the system they are following and announce the trade entered by them using that system and rationale of the entry, and let them show making money out of it.

Disclose? No!

But here is the deal, come on Yahoo Msgr and for a day and I will call my trades in advance and the market behavior expected for the next few minutes. You can see for yourself if 'something' works and hopefully it will get some of your lost enthusiasm back to reseach a bit more!

CV

 

[swagat86]

Re: Is Technical Analysis Really Works ???

Disclose? No!

But here is the deal, come on Yahoo Msgr and for a day and I will call my trades in advance and the market behavior expected for the next few minutes. You can see for yourself if 'something' works and hopefully it will get some of your lost enthusiasm back to reseach a bit more!

CV

Ok dont disclose ur sytem, Get a partner and start a chat room for live calls. Im sure ul get huge huge client base.


wat say???

 

[lokanathpai]

Re: Is Technical Analysis Really Works ???

hi LP

I understand your dilemma but you have to understand the fact throughly that no one will put out stuff that actually works in public. That would be utter disrespect of ones work IMO. Books and courses are just a starting point , there is a whole lot of testing and real time feedback that is required to understand market dynamics.And you know what it takes time and lots of it for anyone to 'get it'. This is not a game where you can dabble and expect great results.So dont lose heart and be patient! It will click eventually.

CV

My God !

Patience, how much do I require ?
I am there since last one and half years with no much success rather loss.

So I am getting a feeling that all this tech analysis is 'Bakwaas'.

I am overwhelmed by your offer CV. U r great.
But I prefer you to evaluate my picks if possible with rationale.
That may solve my dilemma or allow me evaluate a right path

- Lok

 

[oxusmorouz]

Re: Is Technical Analysis Really Works ???

Loknath, you just squandered a golden oppurtunity buddy

 

[lokanathpai]

Re: Is Technical Analysis Really Works ???

Disclose? No!

But here is the deal, come on Yahoo Msgr and for a day and I will call my trades in advance and the market behavior expected for the next few minutes. You can see for yourself if 'something' works and hopefully it will get some of your lost enthusiasm back to reseach a bit more!

CV

Yeah here are my picks:
After EOD 06.02.2007
Buy above - Target - Stoploss
ARVIND MILL: 61.50 - 64-66 - 58
Ashokleyland: 47.50 - 50-52 - 48
BATAINDIA: 224 - 232-235 - 215
CHAMBLFERT: 39.50 - 40 - 38
GDL: 191 - 197-214 - 186
gtl: 160 - 180 - 154

Ok how I picked them ?
All these are in uptrend and broken some resistance on increased volume.

Let me check my luck once more LOL

- Lok

 

[Bullet]

Re: Is Technical Analysis Really Works ???

Hey Lk
Dont lose your hope keep trying....

Somebody had said a nice thing.
If you are sinking, become a SUBMARINE.

Here is a piece of Trading Psychology from Dr.Alexendar Elder from his book.
Which you must have read before.

Your feelings have an immediate impact on your account equity. You may have a brilliant trading system, but if you feel frightened, arrogant, or upset, your account is sure to suffer. When you recognize that a gamblers high or fears is clouding your mind, stop trading. Your success or failure as a trader depends on controlling your emotions.

When you trade, you compete against the sharpest minds in the world. The field on which you compete has been slanted to ensure your failure. If you allow your emotions to interfere with your trading, the battle is over.

You are responsible for every trade that you make. A trade begins when you decide to enter the market and ends only when you decide to take your self out. Having a good trading system is not enough. Most traders with good systems wash out of the markets because psychologically they are not prepared to win.
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[jptoshniwal]

Re: Is Technical Analysis Really Works ???

hi feinds..It is rubbish if anyone says that TA doesn't work....It works exteremely for short time.... IT is like that if you don't know how to drive a vehicle then u will not able to get the benefit of it...

 

[lokanathpai]

Re: Is Technical Analysis Really Works ???

You are responsible for every trade that you make. A trade begins when you decide to enter the market and ends only when you decide to take your self out. Having a good trading system is not enough. Most traders with good systems wash out of the markets because psychologically they are not prepared to win.
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One of my freind has sent me a link: http://www.swing-trade-stocks.com

Excerpts from it

5 Trading Tips-

-Remember that there is always another trader on the other side of the trade doing the exact opposite that you are doing. Only one of you can be right.

- Waiting around for the perfect trade or the perfect opportunity will guarantee that you never trade stocks.

- Trading stocks is about probabilities, NEVER certainties. You are not smart enough to predict, with consistency, what will come next.

- Conventional wisdom is usually wrong. Trade against the crowd, not with them.

- Money, trade, and self management has always been and will always be the holy grail to trading stocks.

 

[lokanathpai]

Re: Is Technical Analysis Really Works ???

One more from Credit violet : WOW

38 steps to becoming a trader

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38 steps to becoming a trader

They are as follows:

1. We accumulate information - buying books, going to seminars and
researching.
2. We begin to trade with our 'new' knowledge.
3. We consistently 'donate' and then realise we may need more
knowledge or information.
4. We accumulate more information.
5. We switch the commodities we are currently following.
6. We go back into the market and trade with our 'updated' knowledge.
7. We get 'beat up' again and begin to lose some of our confidence.
Fear starts setting in.
8. We start to listen to 'outside news' and to other traders.
9. We go back into the market and continue to 'donate'.
10. We switch commodities again.
11. We search for more information.
12. We go back into the market and start to see a little progress.
13. We get 'over-confident' and the market humbles us.
14. We start to understand that trading successfully is going to
take more time and more knowledge than we anticipated.

MOST PEOPLE WILL GIVE UP AT THIS POINT,
AS THEY REALISE WORK IS INVOLVED.

15. We get serious and start concentrating on learning a 'real'
methodology.
16. We trade our methodology with some success, but realise that
something is missing.
17. We begin to understand the need for having rules to apply our
methodology.
18. We take a sabbatical from trading to develop and research our
trading rules.
19. We start trading again, this time with rules and find some
success, but over all we still hesitate when it comes time to
execute.
20. We add, subtract and modify rules as we see a need to be more
proficient with our rules.
21. We feel we are very close to crossing that threshold of
successful trading.
22. We start to take responsibility for our trading results as we
understand that our success is in us, not the methodology.
23. We continue to trade and become more proficient with our
methodology and our rules.
24. As we trade we still have a tendency to violate our rules and our
results are still erratic.
25. We know we are close.
26. We go back and research our rules.
27. We build the confidence in our rules and go back into the market
and trade.
28. Our trading results are getting better, but we are still
hesitating in executing our rules.
29. We now see the importance of following our rules as we see the
results of our trades when we don't follow the rules.
30. We begin to see that our lack of success is within us (a lack of
discipline in following the rules because of some kind of fear)
and we begin to work on knowing ourselves better.
31. We continue to trade and the market teaches us more and more
about ourselves.
32. We master our methodology and our trading rules.
33. We begin to consistently make money.
34. We get a little over-confident and the market humbles us.
35. We continue to learn our lessons.
36. We stop thinking and allow our rules to trade for us (trading
becomes boring, but successful) and our trading account
continues to grow as we increase our contract size.
37. We are making more money than we ever dreamed possible.
38. We go on with our lives and accomplish many of the goals we had
always dreamed of.

Most traders will identify with this list and should be able to place
themselves within these steps. Keep in mind that very few people
progress through these steps in an orderly fashion. Developing your
trading skills is an iterative process. For example, you may reach
Step 13., find that although you were making money, your basic
premise for trading was flawed (you might have been benefiting from
the bull market, rather than your own trading prowess and then have
been rudely awakened when the market entered a bear phase) and you
may drop back to Step 4. and start 'climbing' the steps again.
Having the proper mindset, attitude and psychological makeup becomes
increasingly important as you progress through the steps. The focus
of the earlier steps is on external issues, i.e. developing
proficiency in the mechanics of trading while the focus of the
latter steps (particularly from Step 30, on) is on internal issues,
i.e. improving ourselves mentally and psychologically, maturing as
trader


regards
creditviolet


Where I am ? in which step ??