Technical analysis. Truth or fiction?

[[Deleted]]

My personal opinion is that this is fiction!!! Because we will always find an excuse on the charts if our initial prediction fails. What's your opinion?

[moskitman]

The topic has been discussed, and hotly so.
It's all imho, mine is fiction.

[Leonid Borsky]

Let it be fiction. What's wrong with that? At least the trading strategy has to be worthwhile somehow. Let it be based on some fictitious technical reasoning. As long as it works profitably!

Do you have an alternative to such a "fiction"?

[sand]

Indicators and methods for interpreting them were developed a long time ago and for completely different markets.

Using these methods now and here is like predicting the weather in Africa by Russian folk omens.

[moskitman]

leonid553:

Let it be fiction. What's wrong with that? At least the trading strategy has to be worthwhile somehow. Let it be based on some fictitious technical reasoning. As long as it works profitably!

Do you have an alternative to such a "fiction"?

There already is, even though the branch is about to be demolished.

[sand]

moskitman:
Already there, though the branch will be demolished soon.

And not just any branch.

[AlexeyFX]

Most of the known tools and methods of thechanalysis are sucked out of thin air or something else. But that does not mean that thechanalysis does not work at all.

[sand]

Technical analysis is a set of technical indicators and methods of their interpretation.

And everyone has their own indicators and techniques.

[Алексей Тарабанов]

sand:

Indicators and methods for interpreting them were developed a long time ago and for completely different markets.

Using these methods now and here is like predicting the weather in Africa by Russian folk omens.

I would not trust Newton's laws either :)

[[Deleted]]

AlexeyFX:

Most of the known tools and methods of thechanalysis are sucked out of thin air or something else. But that does not mean that thechanalysis does not work at all.

No, it just means that price has simply followed your predictions=)

[Алексей Тарабанов]

Myth63:
My personal opinion is that this is fiction!!! Because we will always find an excuse on the charts if our initial prediction fails. What's your opinion?

Tehanalysis does not include prediction, you can only use the result of TA to make predictions. Accordingly, if the prediction does not come true, you may kick either the classics or yourself, whichever you like :)