Technical analysis disappoints me

[rl2000]

Troj, I agree with Mongoose and Baruch. I personally do not use any technical indicators there all bullshit, don't waste you time. I lost money when I used to use them.

I use a technique similar to Bam (S/R). I find fundamentals helpfull to get a long term feel of the market. Money Management is of the upmost importance. Also I do not day trade because I do not have the time, I position trade off the daily chart and I don't use stop losses.

[Baruch]

Originally posted by bam
Could not agree more!

The only indicators I use are S/R levels and fib ratios( which tend to correspond with with support/resistance levels anyway).
Indicators lag the price and only react as the price changes,personally having tested and used them I can't see any advantage of using them.
But they are great as a learning tool until you get the hang of things.

Fib ratios? Do they work? And if yes: Why? To me they seem to be snakeoil.