Re: Which one do you use? Technical or fundamental analysis
enzo
Dear Mr Ducster,
You do like to carry grudges don't you.
I respectfully decline your offer of a trading challenge. I also decline, in accordance with the agreement both you and I made to Joe, to indulge in acrimonious discourse with you. I will be honouring that agreement.
I didn't for one minute expect you to partake.
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And while I'm still on the topic of excuses let's examine the evidence from the techies...........that is,
claims of superlative trading results, combined with an excuse of why they cannot demonstrate
eddievanhalen
I am not going to even try and make any claims myself , but let's just say that I am in contact with traders all day every day and have seen trading statements/tax returns of my closer trading friends.
So no claims from you sir.
there ARE a few traders who are making 50,60,70,80,90% returns on large sums of money.
I thought you said no claims?
Where is the evidence?
What no evidence...........I'm scandalized.
Do you think I could be stuffed posting my trades (around 70 positions currently) and trying to prove myself to some people on the internet I don't know. I actually spend a lot of my free time helping other traders with general queries and am all for pointing people in the right direction but as far as trying to explain my system and prove it to everyone??
You can't post a few trades, that takes 5mins, but you can spend your free time helping the peanuts.
I should be extremely contrite in the face of such philanthropy. Jog on.
most of the traders I know making really big money from the markets do it full time. TechA does a fantastic job using a low maintainence system
No, now you are confusing someone who made a claim, and
backed it up with a publically traded system Irrespective of his results, and as much as I quibble with him over his methodology........you cannot place your *traders* in the same category.
That's my piece - make of it what you will. I have made no claims about my own results - I have been making a living fulltime from the market from the age of 27 (currently 32) and have no need to prove myself to anyone.
But of course that's total nonsense.
You have made a claim right there.
*I have been making a living*...........that my freind is a claim, that implies you or any potential aspirant can make returns good enough to live off.
This is difficult.
You say otherwise.
Provide the evidence.
The only way to seriously outperform everyone else is to do something everyone else isn't doing.
Well here we can agree.
But *Technical analysis* is by definition, exactly what everyone else is doing.
The only reason I posted at all was to try (in vain probably) to maybe influence some of those who refuse to believe that returns greater than 10-20% pa are possible to think outside the square a bit.
They are, no argument.
There are people that do it.
Their results are in the public domain, and their funds are closed to new investors.
My assertion is that very few who participate on this BB are capable.
There are many claims.
Almost zero action.
Why is that?
Because to actually do it, day in day out, is very hard to do.
Most like
enzo etc like to talk the talk, but bail out very quickly when required to put up the goods.
PS the only real "claim" I made to illustrate a point was that I currently hold 70 positions and TURN OVER 1m/month. When I say turnover I mean total sales. I could do that buying in and out of BHP 50 times for the month using only $20,000. It doesn't imply a level of profit
Of course it doesn't.
It tells people absolutely nothing.
bunyip
Thanks Ed.....that was an outstanding post. You show knowledge and wisdom beyond your years.
I doubt if you'll convince the non believers though....maybe one in fifty of them will be prepared to think outside the square he's living in, get off his backside and start putting in the hard yards necessary to learn a better and simpler way of profiting from the market.
Most of them however will continue to believe the age old crap that keeps them slugging along at 10 to 15% annual returns (if they're lucky) and believing that because they can't get above this level, nobody else can either.
More nonsense.
Buffett, Lynch, Gabelli, Ruane, Washington Post Pension Fund, etc.
All have publically verifiable records.
There are even some *techies* that manage it for periods of time.
Public knowledge.
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What very few people ever learn is that the chart is one of the best fundamental analysts you can have on your team.
A technical analyst utilising a trend riding approach is really using fundamental analysis in the first instance, simply by looking at the chart and identifying the trend of the stock.
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I was trolling through some stocks one day when I came across a stock that was downtrending on the weekly chart. I immediately thought 'poor fundamentals' even though I knew nothing about the stock (which happened to be ION).
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The concept of using trend analysis to make an assessment of company fundamentals is just so alien to the average fundamentalist that he simply can't accept it as a viable way of assessing whether or not a stock is worth buying.
That's because it's total nonsense.
You are confusing the basics, and yet you claim so much.
Magdoran
Bunyip, eddievanhalen, (even tech/a),
Applause.
tech/a is worth his applause.
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We'll come to blows on Friday.
jog on
d998