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Originally Posted by Soul-Trader2004
All i know is that in my world MOST ta is total bollocks and cannot be relied upon for a more than 50% probability - this observation is held up by the latest research.
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Can't say I've seen any detailed or authoritative research on the subject but even if there was, 50% is perfectly adequate provided it's consistent.
If TA and/or discretionary trading didn't work for you for whatever reason then fine, different strokes, but it doesn't mean either is bollox. If you were a seasoned vet in the markets then perhaps your opinion would hold more weight, as it is you base your opinion on limited experience and readers should bear that in mind.
Ok, let's put this to a practical test.....
Taking fundamentals, technical analysis, and discretion into consideration my trade for this week is buy dips on yen crosses ie Gbp/Jpy leading up to, and after, the BOJ decision. What does your system say?
As for investors, Australian or otherwise, most astute investors and large funds screen fund managers using various metrics, the Sharpe Ratio as mentioned in another thread is one, a 40% drawdown 30% return wouldn't even get you through the door, 70%/40% would end up in the bin!
I'm not bitter to you or anyone else but in a business where vast amounts of people's cash are on the line any advice needs to be balanced and accurate and when I see this kind of misinformation I have an insatiable urge to correct it, I'm kinda quirky that way
Of course there will always be the idiots who fall for any old line.......