Technical Analysis is stupid

[Euler]

I'd feel lost with a graph on my screen, so I think I can say they may possibly be of value.

[ruthlessimon]

Personal incredulity.

"Technical analysis" is extremely vague. It's like saying YouTube is not reliable for genuine information.

[Kai]

NGL I'd be a bit lost without matchsticks next to each ladder, if anyone has a better way of measuring volatility and momentum I will gladly listen

One can probably do without most indicators, think it's mostly preference and habit, but I'd say generally the most important one is the matched volume column. The Betfair graph is just another way of looking at more or less the same information, I'm used to them but for a lagging indicator they do a pretty crap job overall.

Never personally went into any more advanced charting than that, it's unlikely that I will. A minimalist approach to indicators works best imho.

[ruthlessimon]

Sceptics used to wind me up endlessly.

I think everyone needs to be a bit sceptical; but when that scepticism turns into cynicism, yeah that's toxic.

When a new idea is put forward: cynics poke holes, sceptics plug holes, disciples can't see holes. We don't wanna be too much of the former or the latter imo!

[Kai]

Sceptics used to wind me up endlessly.

I think everyone needs to be a bit sceptical; but when that scepticism turns into cynicism, yeah that's toxic.

When an new idea is put forward: cynics poke holes, sceptics plug holes, disciples can't see holes. We don't wanna be too much of the former or the latter imo!

A healthy dose is recommended for sure, enough to form own opinions on things. However, forming premature conclusions can be damaging in many ways.

And a bit of controversy can be a good catalyst for productive discussion, that's why I rarely mind it Helps to break up the boring monotony too, otherwise it's like rik said, it would just be endless automation threads

[Emmson]

NGL I'd be a bit lost without matchsticks next to each ladder, if anyone has a better way of measuring volatility and momentum I will gladly listen

Me too as a visual aid matchsticks matter but Euler & many others are massive sceptics of matchsticks.

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I've always traded off volume as it's more important how much has been traded rather than where something has traded. Price without volume is like a burger without fries.

[Kai]

NGL I'd be a bit lost without matchsticks next to each ladder, if anyone has a better way of measuring volatility and momentum I will gladly listen

Me too as a visual aid matchsticks matter but Euler & many others are massive sceptics of matchsticks.

posting.php?mode=quote&f=20&t=10411&p=88454#preview

I've always traded off volume as it's more important how much has been traded rather than where something has traded. Price without volume is like a burger without fries.

And I agree with that, like any sensible trader would, as you can see in the above post. Like I said, for me volume is the most important thing, it would be hard to imagine trading without it, while matchsticks and graphs etc is something I can imagine trading without, but it's mostly just personal preference.

It obviously also depends on approach and market too. I for example find the matchsticks especially useful for volatile in-play markets, as you can imagine, because the action can get pretty hectic.

[Euler]

Sceptics used to wind me up endlessly.

I think everyone needs to be a bit sceptical; but when that scepticism turns into cynicism, yeah that's toxic.

When a new idea is put forward: cynics poke holes, sceptics plug holes, disciples can't see holes. We don't wanna be too much of the former or the latter imo!

I agree, you need a critical and enquiring mind to progress. I regularly look at myself and wonder if I could do better or whether I missed something.

I still find it amazing after being the one of the first people to do this and then carrying on doing it for the best part of 20 years on a large scale, that people still question if it's possible. I mean, seriously?

[Realrocknrolla]

Sceptics used to wind me up endlessly.

I think everyone needs to be a bit sceptical; but when that scepticism turns into cynicism, yeah that's toxic.

When a new idea is put forward: cynics poke holes, sceptics plug holes, disciples can't see holes. We don't wanna be too much of the former or the latter imo!

I agree, you need a critical and enquiring mind to progress. I regularly look at myself and wonder if I could do better or whether I missed something.

I still find it amazing after being the one of the first people to do this and then carrying on doing it for the best part of 20 years on a large scale, that people still question if it's possible. I mean, seriously?

It’s like questioning if CR7 is the goat or not!

(Now i will set people off)

[Euler]

And I agree with that, like any sensible trader would, as you can see in the above post. Like I said, for me volume is the most important thing, it would be hard to imagine trading without it, while matchsticks and graphs etc is something I can imagine trading without, but it's mostly just personal preference.

It obviously also depends on approach and market too. I for example find the matchsticks especially useful for volatile in-play markets, as you can imagine, because the action can get pretty hectic.

Everybody is different and you should use what works for you and how you best interpret something. That's why we have let the software be driven by its users. I don't use matchsticks, but realise that a lot of people wanted them or found use for them, so it was an easy additional to make to the software.

Life would be a bit boring if we were all the same and also the markets wouldn't function the way they do and nobody would make any money.

Years ago I was a trading sceptic in financial markets, probably because I was bloody useless at it. But I learned to rewire myself to become a good risk-taker and love it now. The journey has been a revelation for me and very enlightening as you feel you are peaking underneath the floorboards of the collective psyche of the market when you can do it.

[weemac]

In financial markets, candlesticks show the current collective psyche of the neverending market at a glance. Not convinced about their efficacy in sports markets which have different dynamics and are all over in a few minutes.

In sports, matchsticks show the most immediate trend, the precise manner in which the most recent prices traded, whether or not one big order moved the market several ticks in an instant, and they often help to fine-tune entry and exit. All that info can be gleaned at a millisecond's glance while everyone else is scratching around trying to find out what just happened.

People who've never learned, or even tried to learn about the myriad things going on at any given time, will rubbish what other people think, say and do till their dying breath.

And then they'll be dead.