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#11
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You can talk about semantics all you want, the goal is to make money and I've never seen anything that makes me believe that TA is a way to make money.
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#12
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please separate the idea of LONG TERM INVESTING (which i do) and short term trading [/ QUOTE ] I do seperate them, quite a bit actually. I treat one as the gold standard of managing capital and the other as fallacy. I'll leave you to guess which is which. I think we may have found our main disagreement. Seriously, I will never accept "short term investing" as investing, it is specualation. If you like to do it that's fine. I was at the Borgata this weekend and I played some blackjack because I was drunk and it was fun, not because I felt lucky and thought I was making a winning bet. |
#13
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evan,
Value investing is what I do for a living so I am on your side but you should also realize that there are people who are good traders and can make money at it. A good trader is speculating/gambling only in the same sense that a good poker player is speculating/gambling. However, I don't know of any successful traders that use strict TA to trade. The good ones mostly would say that they 'read the tape'. I'd guess the success rate for traders is equal to or lower than the success rate for poker players. |
#14
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I do not doubt that peope can make money on short term trading. There are probably even people who can make money using purely technical analysis.
However, I can also make money by checking aces in the BB after 7 limpers. Do you see my point? |
#15
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I dident get a chance to read that book, although I will. An iteresting book on that topic is "Beat the market" by Edward Thorp.
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