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Pattern recognition software

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Elite Member
Norwich, UK
 
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Big Mike View Post
I would recommend you read Evidence Based Technical Analysis by David Aronson before you spend any time on these patterns.

Or if you a true believer, you can look at Suri Duddella has made patterns work for him in several futures.io (formerly BMT) webinars. Hint, it's not the patterns that make him successful...

Mike

Hi Mike,

I remember you read David's book some time ago - did you actually went through the full material ... and what were your thoughts ...
I think some of his conclusions are just ... so different from anything else ... for example:

Quote:
>>>
TA stands at a fork on the road. The traditional path continues the nonscientific subjectivist tradition of naive theories built on untestable propositions, anecdotal evidence, and intuitive analysis....
<<<

How much from what you see on this website's activity would qualify according to the above ...

Quote:
>>>
I now exercise literary license for literary effect and make the following unfalsifiable forecast: Technical analysis will be marginalized to the extent it does not modernize ... <just like> Astrology which gave birth to the science of Astronomy, now languishes to the periphery while its offspring thrives as the mainstream discipline.
<<<

In other words, all this pattern recognition <eye balling - as Dr. Gary Dayton likes to repeat so many times in his classes> screen chart based techniques so spread everywhere in TA, is just plain useless ... I'm not entirely sure what you mean with "if you're a true believer" in the above, do you think that if you fully believed with all your heart and mind in Suri's patterns - will this make you profitable in the markets?


Last edited by andby; November 29th, 2015 at 07:27 PM. Reason: corrections
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