My trading company, Factor LLC, trades almost exclusively with 1930s classical chart patterns (Richard W. Schabacker) When I first started we did not have computers. Only later did we have a computer that could print out charts (on that old shiny fax paper We kept charts my hand We had no indicators other than open interest and volume There where bar charts or P&F charts -- that's it I've seen many TA approaches come and go I do not go along with almost all the fancy gimmicks such as VWAP. Fifteen years from now people will forget VWAP was even a big thing back when There is really no edge in any of the FA or TA studies. They are all a gimmick - part of the con that is trading Yes, folks, active trading in stocks, futures, FX, etc. is the con The game is rigged to move money from the many to the few The edge has never been and never will be about the "set -ups." The game is all about managing losing trades. The con wants you to believe the magic sauce is in the "set-ups" The stories about a few guys turning $10k into $10M are all part of the game. Sure, there will always be some legit 3 stnd. dev. winners. Good for these guys. I will be the first to praise them for beating the odds It is easy to make money in the markets - but then try to keep it. That is the hard part The game all comes down to managing risk and the law of large numbers. The con keeps telling people that the game is all about the fancy indicators and flow and all other sorts of gimmicks being sold for high prices If there is an advantage anywhere for the average Joe, it is in buying and holding the stock of quality companies. But that idea is poo pooed in most modern narratives of making money Futures trading presents a major disadvantage relative to long term holds in equity positions Futures trading is a zero sum game (actually a small minus sum game due to trading costs) In futures there is a loser for every winner. There are always people or companies on both sides of every trade Professionals love bull markets in commodities because it attracts retail traders to the game. Most retail traders think the game is all about being right when the real game is all about managing the "wrongs."

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