Mesa1, if you have been using TA and have been a CMT since 1986... when did you get fired?
mesa1 wrote: You're apparently all about the charts, at least that's the shield you put up to state your case, and present your position. Of course to maintain your credibility you selectively point to calls that seem to be well timed, and ignore the remaining 80% that were so much wishful battering at the ramparts.
FWIW I've been using technical analysis since 1986 and ended up with a CMT along the way (Chartered Market Technician) from the Market Technicians Association of New York. I'm pretty good at trading and timing, and in fact made a very public living at it for many years (published). You do have some technical ability for sure, and maybe alot.
The difference here is that:
1. I do not wish to try to manipulate a bunch of retail investors to enhance my technical beliefs to create a bigger swing trade, and
2. become a guru of sorts to build up my ego.
And it's worth pointing out that using technical analysis effectively is more suited to the more liquid and bigger market cap traders, if it's true TA that one is all about.
In your case, you chose to apply TA where you stand a better chance of effectively enhancing volatility to increase your returns.
TA is useful to be sure, especially for timing the entry and exit of positions. And under-capitalized traders really have no choice but to try to day trade to eke out a living. It that what you do Pamps, eke out a living while trying to sway others doing the same to sell in fear near technical bottoms and greedily buy more near technical tops?
You see, I don't need to worry about the day to day noise, other than to add to my 6 and 7-figure positions when the fear index is extreme. I'm here for the inevitable end game when Fission gets take out. It will happen. I can afford to hold, and don't need to make rent every month and churn my account.
As so well-stated in that 1923
roman clef Reminiscences of a Stock Operator author
Edwin Lefvre, the thinly disguised biography of
Jesse Lauriston Livermore, (The
Wall Street Journal described the book as a "classic", it was ranked #15 on 'Fortune's 75 The Smartest Books We Know', and
Alan Greenspan said it is "a font of investing wisdom.") ...
"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon."