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On April 09 2013 08:25 Nymphaceae wrote:Show nested quote +On April 09 2013 07:57 MysteryMeat1 wrote:
woah thanks alot. I'll probably just read them over the next few weeks. I find this stuff interesting It's a lot of reading, but I found the things to be really interesting trying to understand it and then apply it to other places. Also I would like to recommend trying to find something about "trading by the stars." It's actually is interesting, as long as you don't get too into the Ms. Cleo kind of stuff.
I'm not finding anything. But I'll shoot you a pm in a few weeks after i get done reading everything else if I still can't find it
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On April 09 2013 08:42 MysteryMeat1 wrote:Show nested quote +On April 09 2013 08:25 Nymphaceae wrote:On April 09 2013 07:57 MysteryMeat1 wrote:
woah thanks alot. I'll probably just read them over the next few weeks. I find this stuff interesting It's a lot of reading, but I found the things to be really interesting trying to understand it and then apply it to other places. Also I would like to recommend trying to find something about "trading by the stars." It's actually is interesting, as long as you don't get too into the Ms. Cleo kind of stuff. I'm not finding anything. But I'll shoot you a pm in a few weeks after i get done reading everything else if I still can't find it
I mean just look up the astrology trading things. Sure they seem really bs, but everyone wants to make their trades a few percentages less risky. I can't remember who it was, but there was a big name trader who said something like, if you want to be a millionair, then trade, but if you want to be a billionair keep an astrologist by your side. I know this is miss quoted, but it's close enough.
I think for the most part, it's done by people with fairly good chart analytical skills, in which they make up BS things about different signs, to try to sell their trading secrets. "If you're a leo, then you're affinity for courage is stronk! You should buy the riskiest stocks you can find, and women will arrive waiting for you at the playground!!! XXX XOXO <3"
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On April 09 2013 09:43 Nymphaceae wrote:Show nested quote +On April 09 2013 08:42 MysteryMeat1 wrote:On April 09 2013 08:25 Nymphaceae wrote:On April 09 2013 07:57 MysteryMeat1 wrote:
woah thanks alot. I'll probably just read them over the next few weeks. I find this stuff interesting It's a lot of reading, but I found the things to be really interesting trying to understand it and then apply it to other places. Also I would like to recommend trying to find something about "trading by the stars." It's actually is interesting, as long as you don't get too into the Ms. Cleo kind of stuff. I'm not finding anything. But I'll shoot you a pm in a few weeks after i get done reading everything else if I still can't find it I mean just look up the astrology trading things. Sure they seem really bs, but everyone wants to make their trades a few percentages less risky. I can't remember who it was, but there was a big name trader who said something like, if you want to be a millionair, then trade, but if you want to be a billionair keep an astrologist by your side. I know this is miss quoted, but it's close enough. I think for the most part, it's done by people with fairly good chart analytical skills, in which they make up BS things about different signs, to try to sell their trading secrets. "If you're a leo, then you're affinity for courage is stronk! You should buy the riskiest stocks you can find, and women will arrive waiting for you at the playground!!! XXX XOXO <3"
Too bad im not a leo T.T i want women waiting for me at the playground.
but that makes more sense
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I mean just look up the astrology trading things. Sure they seem really bs, but everyone wants to make their trades a few percentages less risky. I can't remember who it was, but there was a big name trader who said something like, if you want to be a millionair, then trade, but if you want to be a billionair keep an astrologist by your side. I know this is miss quoted, but it's close enough.
I think for the most part, it's done by people with fairly good chart analytical skills, in which they make up BS things about different signs, to try to sell their trading secrets. "If you're a leo, then you're affinity for courage is stronk! You should buy the riskiest stocks you can find, and women will arrive waiting for you at the playground!!! XXX XOXO <3"
Wait wat. People actually use astrology as a guidance for trading? Well, I guess people using astrology as a guidance for anything is crazy.
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I've always wondered whether or not technical or chart trading actually works.... used in conjunction with top down fundamentals analysis i mean
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On May 29 2013 01:15 BlindKill wrote:
I've always wondered whether or not technical or chart trading actually works.... used in conjunction with top down fundamentals analysis i mean
I use top down fundamental analysts in contrast to the global macroeconomic trends (NA, EU, and ASIA)
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Imo classical chart analysis like candle stick or trend lines,and using indicators do not work, nor do all the other weird theorys like eliot wave , cycle analysis or even astrology. Though they all can help you to form your own vision if you know how to interpret them.
It makes sense also that it does not work, there is real monney to be made here and if there was a system that generates a profit consitently it would be arbitraged away (collapse under its own succes) verry fast.
There are thousends of highly educated (and paid) people and algorithms looking for such paterns every day and nothing will escape them.The best way to make monney with a trading system is selling the system to other people.
There is a contest atm in the netherlands for trading wich has a few celebrity analist competing, some of them work at a bank and the odd thing is that they all perform pretty badly in this trading contest (though that might be due to bad luck i have to be honest and this is just a small time frame). All of them but one is at a loss and the biggest loss is made by the "turbo expert" from RBS (royal bank of scotland) who has -18% result (after beeing -30% earlier). This should be quiet an eye opener to that it is verry difficult to realiable predict the market.
Am not saying there analysis are useless, they definatly are not but they are not to reliable.
In the end fundamentals determine the trend and hedgefunds, banks and pension funds who make the trend use fundamental analysis, i think fundamental analysis for private investors is verry difficult though as imo they can never compete with the hunderds of analists working for thoose institutions and who have acces to way more and also more reliable information , for example direct acces to companys ceo,s to get information wich you can not find in the annual report or on the internet.
For trading its best to be a bit stupid tbh, the smarter you are the more your intelect will hinder you.
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On May 29 2013 03:18 Rassy wrote:
Imo classical chart analysis like candle stick or trend lines,and using indicators do not work, nor do all the other weird theorys like eliot wave , cycle analysis or even astrology. Though they all can help you to form your own vision if you know how to interpret them.
It makes sense also that it does not work, there is real monney to be made here and if there was a system that generates a profit consitently it would be arbitraged away (collapse under its own succes) verry fast.
There are thousends of highly educated (and paid) people and algorithms looking for such paterns every day and nothing will escape them.The best way to make monney with a trading system is selling the system to other people.
There is a contest atm in the netherlands for trading wich has a few celebrity analist competing, some of them work at a bank and the odd thing is that they all perform pretty badly in this trading contest (though that might be due to bad luck i have to be honest and this is just a small time frame). All of them but one is at a loss and the biggest loss is made by the "turbo expert" from RBS (royal bank of scotland) who has -18% result (after beeing -30% earlier). This should be quiet an eye opener to that it is verry difficult to realiable predict the market.
Am not saying there analysis are useless, they definatly are not but they are not to reliable.
In the end fundamentals determine the trend and hedgefunds, banks and pension funds who make the trend use fundamental analysis, i think fundamental analysis for private investors is verry difficult though as imo they can never compete with the hunderds of analists working for thoose institutions and who have acces to way more and also more reliable information , for example direct acces to companys ceo,s to get information wich you can not find in the annual report or on the internet.
For trading its best to be a bit stupid tbh, the smarter you are the more your intelect will hinder you.
Great post, completely agree. Unless you have some highly sophisticated algorithm combining all the knowledge we have about the markets with the sickest internet speed, or unless you have just done research into market behaviour and found an inneficiency you could exploit. You won't get far.
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EPT
